Online incorporation services business BizFilings by CT, a Wolters Kluwer Company, today announces a joint initiative with Kiva Zip, an organization that addresses the access to capital needs of the growing number of mission-driven businesses in America.
BizFilings by CT offers small business owners a full suite of services to incorporate, form an LLC, Benefit Corporation, and other business structures. Kiva Zip's 0% loans are up to $5,000 that are crowd funded by a community of more than 1 million lenders looking to make a social impact through their investment. Getting a loan is typically limited by an entrepreneur's credit score, collateral and time in business. Kiva Zip forgoes traditional financial underwriting in lieu of a process of “social underwriting” based on the borrower's character and network of trust. Through the joint initiative, qualifying BizFilings customers are connected with Kiva Zip and receive extra promotion for their fundraising profile on the Kiva Zip site.
“Formation and fundraising are linked, because businesses need accessible capital when they start and at crucial moments in their growth,” said Jennifer Friedman, CMO of the small business segment of CT, a Wolters Kluwer company. “We are a trusted compliance partner for businesses. Formation is at the core of what we do, and partnerships with organizations like Kiva Zip help bring our customers other opportunities important to their overall success.”
The mission-driven marketplace is experiencing exponential growth. Sales of “responsible consumption” products (‘organic,’ ‘green,’ ‘local’) in retail chains across America have grown 70 percent in the last three years. Among the world's 250 largest companies, 93% now issue corporate responsibility reports, according to a KPMG survey. Start-ups in this space must ensure that they manage formation, compliance with state laws, and of course, fundraising, the right way.
“Having a trusted partner in formation and compliance is important for Kiva Zip borrowers who often have unique and complex registration or licensing needs to qualify for donations and government funding,” said Justin Renfro, Kiva Zip Program Manager. “We are excited to work with BizFilings by CT to support entrepreneurs creating social impact within their local communities.”
The first two BizFilings by CT customers to benefit from the program -- Cuddle Me Diaper & Food Bank, and JettPakk, Inc. -- launch profiles on Kiva Zip this month. Camden County, NJ based Cuddle Me Diaper & Food Bank (also with offices in Florida, Pennsylvania, Tennessee, and Virginia) aims to use the loans to expand its program providing diapers and wipes, formula and food to more than 37,000 children in need. Raleigh, NC based JettPakk hopes to use the Kiva Zip funding to further develop its leadership and learning platform used to engage, motivate and inspire teachers and students to achieve their goals in classrooms across the country.
CT and BizFilings customers can inquire about eligibility by contacting us.