Bootstrapping? Kiva Wisconsin can help

For the 99% of startups that never land a venture capital deal, finding that first $5,000, or $15,000, can be a major roadblock. Kiva Wisconsin is working to change that.

As part of an international nonprofit platform, Kiva Wisconsin offers 0% interest, fee-free loans ranging from $1,000 to $15,000. These crowdfunded loans are designed for early-stage entrepreneurs who often find themselves locked out of traditional lending. There’s no credit check, no collateral required, and no fees, making the program especially accessible to those who may struggle to secure a bank loan, like women, people of color, immigrants, veterans, and low-income founders.

“It really is that idea of community-based lending making a difference,” said Lisa Sullivan, Director of Kiva Programming at the Wisconsin Women’s Business Initiative Corporation (WWBIC). “These might be small loans, but they can absolutely accelerate growth. Sometimes lenders ask, ‘Can $25 really make a difference?’ And the answer is yes—it really can.”

Since its launch in Wisconsin in 2013, Kiva has supported nearly 837 borrowers with about $5.9 million in loans. More than 800 loans have been facilitated statewide since WWBIC began coordinating operations in 2014, with the pace of lending increasing as community partnerships have strengthened.

Madison is currently the state’s largest Kiva market, with robust support from city foundations and technical assistance providers. West Allis has also invested deeply in the model, becoming a designated Kiva City in 2019 and offering matching funds to local entrepreneurs.

Kiva loans are crowdfunded by a combination of the borrower’s own network and Kiva’s global base of microlenders. Loan campaigns begin with a private fundraising period to demonstrate community support. Once that threshold is met, the campaign is opened to public fundraising on Kiva.org. The minimum investment from an individual lender is just $25, and national partners, like Capital One and Etsy, often offer matching funds.

“Every time a borrower makes a payment, the lender gets a little update,” Sullivan said. “It’s part financial, part marketing, and part inspiration. You get to see someone making it work, and you feel connected to that journey.”

Borrowers receive guidance through every step of the process, thanks to WWBIC’s role as Kiva’s hub in Wisconsin. Sullivan and her team provide hands-on support to help founders navigate the platform and meet underwriting requirements.

While Kiva’s international work began with microloans to women in rural African villages, the U.S. program, launched in 2012 in partnership with PayPal, brings that same community-based philosophy to urban and rural entrepreneurs across the country. It’s a small but mighty option that fills a critical funding gap.

“Small businesses make up about 86% of all businesses in Wisconsin,” Sullivan said. “Helping them grow isn’t just good for the founder, it strengthens the entire community.”

To learn more about Kiva loans or to browse currently fundraising Wisconsin borrowers, visit WWBIC’s Kiva page.