Season 242 Episode 10177

S1 E89 - Empowering Underserved Entrepreneurs with Kiva: A Conversation with Claudia Porras Scott

Discover How Kiva of Northwest Arkansas Is Transforming Lives Through Microloans and Community Support http://s4g.biz/13jun24 tl;dr: 1. Introduction to Claudia Scott and Kiva in Arkansas: Claudia Scott, associated with Kiva in Arkansas, shares her journey from San Jose, Costa Rica, to becoming involved with Kiva through the Startup Junkie in Northwest Arkansas. She detailed her educational background and what led her to Kiva, emphasizing the personal fulfillment she finds in her role. 2. Kiva's Work in the U.S.: Claudia elaborated on Kiva’s expansion into the United States around 2011 and the establishment of hubs, including the one in Northwest Arkansas in 2019, which is supported by the Walton Family Foundation. She highlighted Kiva’s focus on historically underserved minorities and the significant impact in the area, including over 130 loans, primarily to women-owned businesses. 3. Crowdfunding and Loan Processes: Claudia explained Kiva’s dual-phase loan process (private and public). Local entrepreneurs in Arkansas are required to gather a certain number of pledges during the private phase, a practice rooted in community validation. She also discussed the significant support from the Walton Family Foundation, which helps match funds to expedite the fundraising process. 4. Startup Junkie and Kiva's Connection: Startup Junkie, which offers consulting and resources to entrepreneurs at no cost, complements Kiva's microloan services by providing smaller loans (e.g., $5,000) with no interest or fees to businesses that usually cannot access traditional bank loans. Claudia emphasized the symbiotic relationship between the services provided by Startup Junkie and Kiva’s focus on democratizing access to capital and resources for small businesses. 5. Personal Insights and Advocacy: Claudia opened up about her personal experiences with Tourette syndrome, using her journey to activism and her work with Tourette’s associations in the U.S. and Costa Rica to bring awareness and sensitivity to neurodiversity. Additionally, she shared her immigration story and the challenges she faced, advocating for greater empathy and understanding of the immigrant experience and highlighting the importance of humor and assuming positive intent in interactions. http://superpowers4good.com