Overview

Why are you interested in becoming a Trustee?

Supporting small business owners is a priority for the City of Long Beach Economic Development Department. One way that we support small businesses is by facilitating access to important resources, such as loans that enable business owners to stabilize and grow their business. Because accessing traditional forms of capital isn't always easy, we hope to help more businesses benefit from non-traditional lending products, such as Kiva loans. Through Kiva, the City of Long Beach aspires to create a more inclusive, resilient, and sustainable business ecosystem.

What is the mission of your organization?

The mission of the City of Long Beach Economic Development Department is to create economic opportunities for workers, investors, and entrepreneurs.

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?

The City of Long Beach Economic Development Department will encourage all potential borrowers to meet with an experienced business consultant from the local Small Business Development Center. Business consultants offer free technical assistance and can help with assessing a business' needs, identifying financial priorities, and preparing loan applications. Additionally, the Economic Development Department will speak with each potential borrower to understand their business model, learn about their business needs, learn about their challenges and opportunities, and asses their digital media presence, which is vital to a business' success in this day and age. The Economic Development Department will review each application in full before deciding to endorse a borrower.