I’ve always been an entrepreneur at heart. Growing up in Barling, a small town in Arkansas, I sold candy on the playground in elementary school, I ran video game servers in middle-school, and in high school, I sold web design and music production services on Fiverr. My family struggled financially growing up, but always worked incredibly hard so that my brother and I could have the best lives possible. I’ve recognized the value of independence and determination through them. Due to these experiences, I founded my own business at the age of 18 while attending college at the University of Arkansas. My time at the university allowed me to pursue my love of technology with a B.S. in Computer Science and pair it with my entrepreneurial ventures. Most importantly, it allowed me to forge relationships with my peers and create a work environment for students who share my interests in both technology and business. CopiedCode is a software and web development company made up entirely of students and alumni, mostly from the University of Arkansas, including multiple women and people of color who historically have not had a presence in the world of technology ventures in our country. It is my hope to grow our business to include more students and continue working with local businesses in the community.
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A loan helped a vibrant tech startup weather the COVID crisis and provide employment in its community.
Nicholas's story
This loan is special because:
More about this loan
Business Description
CopiedCode is a multifaceted startup technology company that concentrates on software and web development. However, our abilities extend far beyond that to provide other extensive services to small businesses that don’t have huge technology budgets. We have worked on many projects such as auditing and redesigning existing websites for local businesses to improve user experience, as well as offering experience to design custom mobile applications. Many of these have been created to work in tandem with existing web platforms to increase functionality and automation for businesses. One of our current contracts is with a global non-profit entity using blockchain technology to create a more secure donor platform. We also provide valuable services such as web hosting and cloud functionality at a fraction of the cost compared to national providers. Recently, we have added student employees specializing in marketing outreach, copywriting, and search engine optimization. Their current projects involve implementing a company blog and developing strategies for greater community outreach. Our diverse team allows CopiedCode to excel in multiple areas, making us a one stop shop for technology and website needs. We are proud to have worked with multiple local small businesses and nonprofits to grow their digital presence and improve their customers experience. Our roots are in the importance of small business and entrepreneurship, so we relish the opportunity to partner with others in the community who share our goals. Shortly before COVID-19 crisis, CopiedCode found a physical office space with a sharted work startup in Fayetteville, Arkansas. We are currently poised to return to work with a space to meet and work with our clients and grow our business, but need help paying the rent and marketing to continue to increase our business.
What is the purpose of this loan?
I am applying for this loan to help us expand our services and to start marketing campaigns to recover lost revenue and expenses due to the COVID-19 crisis that shut so many businesses down, and to also help our business grow. We began moving into an office right as the pandemic hit, and we were stuck paying for rent on an unfinished office that we weren’t able to use yet, and our business slowed down heavily. We primarily want to start putting more towards our marketing campaigns and get a bigger reach, but we could also use new equipment and new software. I would like to use this loan to purchase a circuit board printer. This equipment would allow us to create custom circuit boards, which would facilitate our ability to work on hardware projects. The ability to work with both software and hardware in house would be invaluable to our growth as a company and increase an already versatile skill set. Additionally, we would like to purchase server space to increase our web-hosting operation and a few low-cost software platforms to make some of our work processes a little easier.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Lending Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Lending Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Lending Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Lending Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Lending Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Lending Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Lending Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Lending Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Lending Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
We also encourage you to read the following articles if you are interested in further educating yourself on the topic: Microfinance 101 (https://www.kiva.org/microfinance), Top 10 things to know about microfinance (https://www.kiva.org/blog/top-10-things-to-know-about-microfinance), Microfinance interest rates explained (https://www.kiva.org/blog/whats-up-with-microfinance-interest-rates)
What is a risk rating?
The Lending Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Lending Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Lending Partner section of every loan. Lending Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Lending Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Lending Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
About Copied Code LLC
Lenders and lending teams
Country: United States
Trustee: StartupJunkie.org
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Nicholas?
Martha Executive Consultant with the Startup Junkie Foundation has met with Nic to discuss his business' history, operations, sales, and plan for the future. She is very well acquainted with the University of Arkansas programs in which he is a part of and the professors he has had. This education and his hands on experience running his business CopiedCode in Fayetteville the past year and a half, and the talented team members he has brought on with him has laid the groundwork for an excellent business future. He is committed to employing and empowering women and minorities in the tech field. Northwest Arkansas is a growing and vibrant community of 500,000 people with a very strong economy and huge support system for young entrepreneurs. Nic has an engaging, humble, and thoughtful personality and is very intelligent and experienced in regard to computer science and customer service. Startup Junkie Foundation wholeheartedly supports his Kiva loan application. His plans to grow the business with marketing are very good, and the business is gaining a very good name for itself.
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Loan tags help lenders find loans that match certain areas of interest.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Lending Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Lending Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Lending Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Lending Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Lending Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Lending Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Lending Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Lending Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Lending Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
We also encourage you to read the following articles if you are interested in further educating yourself on the topic: Microfinance 101 (https://www.kiva.org/microfinance), Top 10 things to know about microfinance (https://www.kiva.org/blog/top-10-things-to-know-about-microfinance), Microfinance interest rates explained (https://www.kiva.org/blog/whats-up-with-microfinance-interest-rates)
What is a risk rating?
The Lending Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Lending Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Lending Partner section of every loan. Lending Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Lending Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Lending Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
Trustee: StartupJunkie.org
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Nicholas?
Martha Executive Consultant with the Startup Junkie Foundation has met with Nic to discuss his business' history, operations, sales, and plan for the future. She is very well acquainted with the University of Arkansas programs in which he is a part of and the professors he has had. This education and his hands on experience running his business CopiedCode in Fayetteville the past year and a half, and the talented team members he has brought on with him has laid the groundwork for an excellent business future. He is committed to employing and empowering women and minorities in the tech field. Northwest Arkansas is a growing and vibrant community of 500,000 people with a very strong economy and huge support system for young entrepreneurs. Nic has an engaging, humble, and thoughtful personality and is very intelligent and experienced in regard to computer science and customer service. Startup Junkie Foundation wholeheartedly supports his Kiva loan application. His plans to grow the business with marketing are very good, and the business is gaining a very good name for itself.
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