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Kiva Zip microlending program hopes to be the Lyft or AirBnB of finance
Kiva Zip microlending program hopes to be the Lyft or AirBnB of finance

Microlending nonprofit Kiva.org hopes to do for small-business financing in Los Angeles what Lyft has done for transportation and AirBnB has done for lodging – take it to the people. The organization is partnering with the city of Los Angeles on the local launch of its Kiva Zip pilot program, which enables individuals to make small loans directly to entrepreneurs. In a city that is “not getting a lot of new resources,” public-private partnerships and ground-level networking in the business community are key to growth, said Kelli Bernard, the deputy mayor of economic development. Los Angeles, she said, is the top manufacturing hub in the country and the third most...

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