Overview

Why are you interested in becoming a Trustee?

As manager of entrepreneurial development for an economic development org here in Iowa, I think KIVA greatly fills a need. Funding sources are available for high-growth/tech startups, advance manufacturing, etc. However when it comes to other service or retail-based startups, funding can be incredibly slim. Many entrepreneurs aren't bankable, nor are they necessarily wanting high-interest options if they are. CDFI's are an option, but sometimes cause some anxiety for the founder, or maybe they only need a very small amount of capital infusion to get their business launched, which KIVA can provide. KIVA has previously proven success, making it easy to be an ambassador for the program.

What is the mission of your organization?

Advance Southwest Iowa Corporation is the economic development organization for Council Bluffs and all communities in Pottawattamie County. Advance is a one-stop shop for economic development with a focus on business attraction, retention, entrepreneurship and site development. The Advance staff are proud to work alongside our many community partners to enhance the image and increase the tax base to make Pottawattamie County a prosperous and desirable community to live and do business.

Borrower Due Diligence

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

Part of working with any entrepreneur is making sure they're set up for success. Not all entrepreneurs are ready for a funding phase. We make resource connections based on where they are - as a service provider, there is no one-size fits all approach. For example, we're not going to recommend KIVA (or any funding source) for a business that is still in the ideas phase. We'll make sure they have a sound business plan/lean canvas, have proof of concept and the passion to follow-through.