The City of Madison is highlighting the programs and resources available to local business owners during National Small Business Week. One such program is Kiva, a crowdfunding platform that offers loans to small business owners and startups at 0% interest. Through Kiva, new business owners can receive up to $15,000 in crowd-funded loans. The City also offers a match program for Kiva loans for businesses that work with designated community partners, allowing qualifying businesses to access an additional match loan of up to $7,500. Eligible partners include the Madison Black Chamber of Commerce, the Hmong Chamber of Commerce of Wisconsin, and other local business organizations.
One business that has benefited from the Kiva program is JustVeggiez, a restaurant, catering, and vending services company located downtown. They received a total of $11,000 in 2023 through the program. Funding for the City’s Kiva project comes from the Small Business Equity and Recovery (SBEG) program in the City of Madison’s Operating Budget. To learn more about Kiva loans and how to apply, visit the Office of Business Resources’ website.
Another valuable resource for local businesses is the City of Madison’s Building Improvement Grant program. These grants help business owners cover capital costs associated with renovating the interior and exterior of their retail spaces, allowing them to stay in their current locations longer and establish roots in the community. JustVeggiez was able to participate in this program and received $50,000 from the City to help cover renovation costs.