Since its launch last December, Kiva.org/Philadelphia, the crowdfunded small-business, no-interest lending program, has funded 57 loans totaling $261,000. Fund-raising is underway for an additional eight loans totaling $40,000, said Kiva spokesman Jason Riggs.
Of the Philadelphia businesses that have received funding, 59 percent are owned by ethnic minorities, Riggs said. To qualify, small businesses create a profile at Kivazip.org, where they outline their business plans and crowdfunding loan goals.
An anniversary celebration set for at 5:30 p.m. Friday at the Center for Architecture will feature a holiday marketplace and include remarks by Mayor Nutter and Premal Shah, Kiva's president.
Tickets are available at https://kivacityphiladelphia.splashthat.com.