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Umpqua Bank Crowdfunding Partnership Accelerates No-Cost Financing for BIPOC, Women Entrepreneurs

The bank encourages eligible entrepreneurs needing access to capital to apply for zero-percent financing for up to $15,000.

Umpqua Bank, a subsidiary of Umpqua Holdings Corporation, has officially activated its one million Umpqua Bank Managed Loan Fund with Kiva. Kiva is a nonprofit unlocking capital for historically underserved entrepreneurs and their communities. Through Kiva’s crowdfunding microloan platform, Umpqua is providing eligible BIPOC and women entrepreneurs across its footprint accelerated financial support towards a zero-percent interest loan. Entrepreneurs can receive up to $15,000 to finance their emerging businesses.

Qualifying business owners in Oregon, Washington, California and Idaho will receive a triple match from Umpqua. The bank will meet every dollar raised for their business from family, friends, and supporters in their communities.

Umpqua is encouraging entrepreneurs in communities it serves to learn more about Kiva and apply for funding.

“Our partnership with Kiva helps entrepreneurs turn support from their communities into a source of capital. This is something that would otherwise be unavailable,” said Umpqua’s Chief Marketing Communications Officer Eve Callahan. “If individuals are willing to help finance a local entrepreneur, Umpqua will triple-match the amount of their financial support. This way, enterprises can more easily and quickly access the financing they need.”

How Kiva works

For any business owner in need of funding, the only collateral needed to access capital is the support of the community they serve. It removes typical barriers to access from the consideration. This includes credit history, physical assets for collateral, citizenship or a verifiable financial track record.

Kiva works hand-in-hand with entrepreneurs to set a financing goal of up to $15,000 and raise contributions from supporters. Kiva also offers access to a global network of lenders interested in supporting businesses. Financial commitments raised are then combined into a zero-percent interest business loan eventually repaid to supporters over three to five years.

Umpqua, through the Umpqua Bank Managed Loan Fund, will help BIPOC and women entrepreneurs reach financing goals more quickly by effectively quadrupling every dollar they raise towards their financing goal.

How to apply

To apply for Kiva financing and the triple dollar match through the Umpqua Bank Managed Loan Fund, entrepreneurs in Oregon, Washington, California and Idaho can visit the Umpqua-Kiva partnership page. The initial application process typically takes between 20 and 30 minutes.

The Kiva partnership is part of Umpqua’s Small Business Empowerment Program. This brings together the bank’s various initiatives to improve access to funding, products/services and expertise under one strategic umbrella. Along with Kiva, the Small Business Empowerment Program partners with organizations that are often the first step for accessing funds. This includes Oregon-based MESO (Micro Enterprise Services of Oregon), Washington-based Business Impact NW and California-based Centro Community Partners.

“We’re excited to partner with Umpqua Bank as part of its Small Business Empowerment Program. We’re ready to provide additional loans and unlock capital for under-resourced entrepreneurs,” said Sarah Marchal Murray, Chief Strategic Partnerships Officer at Kiva. “Ensuring equal access to capital and other resources to succeed is important for creating strong and vibrant communities. Partnering with Umpqua, Kiva is honored to extend our platform’s reach to more communities across the West Coast.”

About Umpqua Bank

Umpqua Bank is a subsidiary of Umpqua Holdings Corporation and has locations across Idaho, Washington, Oregon, California and Nevada. Umpqua Bank receives recognition for its innovative customer experience and banking strategy from many national publications. This includes The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. FORTUNE recognize the company for eight years in a row on the magazine’s list of the country’s “100 Best Companies to Work For”. It was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the seventeenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc. This is a nationally recognized commercial finance company that provides equipment leases to businesses.

About Kiva

Kiva is a global nonprofit that brings people together to invest in lasting impact. Kiva connects individuals, institutional investors and corporations with global opportunities to invest in humanity. With as little as $25, you can help women, refugees and small businesses across the globe build a better future for individuals, their families and communities. Join two million people who have invested $1.7 billion in real dreams and real opportunities around the world. 

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