What it is
Kiva is a nonprofit that crowdfunds 0% loans to small businesses. After approval, you first invite people you know to lend (usually 5 to 40 of them, depending on the amount, within about 15 days). Then the loan opens to Kiva's lenders for up to 35 days, and funds only if it fills.
There's no collateral and no fee. Repayment usually runs 12 to 36 months, starting a month after the money arrives.
What it really costs per year
Nothing: 0% interest and no fees. The real costs are time, and asking people you know to lend.
How fast the money comes
About two to three months in all: the application, Kiva's review (20 to 25 business days, so four to five weeks), up to 15 days of inviting your own lenders and up to 35 days of public fundraising.
Who qualifies
- Owners 18 or older running a U.S. business (outside Nevada and North Dakota). Kiva doesn't decide on credit score, net worth or years in business.
- Not for paying off debt. No bankruptcy, foreclosure or liens, and no violent or financial criminal conviction in the last five years.
- As of November 5, 2026, Kiva takes U.S. applications only through referral links from its community partners (called Trustees and Hubs), because of high demand, and says it hopes to reopen to everyone. Find a local partner before you plan around it.
Where it breaks
- If too few people you know lend in the first stage, the loan doesn't go ahead.
- The public stage is all or nothing.
- $15,000 at most, and it's slow, so it doesn't fit an emergency or a big project on its own.
Compare with
- Friends and family: yearly cost about 0–5%, money in days to weeks.
- Presales, gift cards and store credit: yearly cost 0% at full price, money in weeks.
- Community lenders (CDFIs) and local programs: yearly cost about 7–13%, money in weeks to 2 months.