Kiva Rochester Director Amy Ventura:
[3:30] What is Kiva and why we needed it in Rochester to create "more equitable opportunities for residents"
[5:40] What is "character-based underwriting?"
[8:50] The process of applying for a Kiva loan
Open Mic Rochester Publisher Shappelle Thompson:
[11:45] How Shappelle created of OpenMic Rochester
[16:00] How a Kiva loan helped grow OpenMic's business and mission
[20:15] The advantages of having a Kiva office in Rochester
Marvelous Mind Academy Founder Rosa Marie Curtis:
[22:15] How Rosa founded Marvelous Mind Academy
[24:20] The unique MMA business model: childcare for low-income workers
[25:45] Becoming a worker owned cooperative through OWN Rochester
(Listen to the episode with OWN Rochester CEO Kate Washington here: https://fortheevolutionofbusiness.simplecast.com/episodes/inclusive-prosperity-through-worker)
[26:50] Connecting with Kiva Rochester as an opportunity for growth
[28:45] Why purposeful, community-focused businesses succeed on Kiva
Advice from Rosa's grandmother: "Your business won't grow until you find your WHY"
Amy: "We are always looking for businesses that are socially impactful. That's actually something that Kiva incorporates into their underwriting. There are certain businesses that are going to have greater impact on a community than others, however, they recognize that almost all businesses are going to have a positive impact on the community by generating revenue and hiring people."
[34:00] How Kiva Rochester addresses an underserved market and early wins so far (82 loans totaling $423,500. Borrowers have an average 575 credit score, and median income of $35,000)
[36:45] Beyond capital: building a more inclusive entrepreneurial ecosystem
(Listen to the episode with the Venture Jobs Foundation's Denny DeLeo here: (https://fortheevolutionofbusiness.simplecast.com/episodes/venturejobs)
Consumer Credit Counseling (https://www.cccsofrochester.org/)
SCORE (https://greaterrochester.score.org/)
Office of Community Wealth Building (https://www.cityofrochester.gov/wealthbuilding/)
Rochester Works (http://rochesterworks.org/)
[40:15] Gaps for more inclusive prosperity in Rochester
-Connecting to the right resources
-Reaching people where they are with the right information
-Reintegration for the formerly incarcerated
-Building generational wealth
Shapelle: "Give a man a fish, he'll eat tonight; teach a man to fish, he'll eat forever; but teach him how to buy the pond, his whole family, and everybody eats. I don't want you to give me a fish. I don't want you to show me how to fish. Show me how to buy the pond...and that's what I want for everybody."
[46:20] How Rochester is setting the standard for Kiva programs across the US
Learn more about Kiva Rochester here:
https://www.cityofrochester.gov/Kiva/
Learn more about Kiva here:
https://www.kiva.org/
Learn more about ROC I.D.E.A. (Inclusion, Diversity, Equity and Action) events here: (http://roccitycoalition.org/ and r-y-p.org)
Learn more about Marvelous Mind Academy here:
https://123me.xyz/
...and check out Rosa featured on the INTERNATIONAL Kiva blog and newsletter for ""changing the childcare paradigm in Rochester" here:
https://www.kiva.org/blog/rosa-created-an-overnight-daycare-to-support-working-parents-in-her-community
Learn more about OpenMic Rochester and subscribe here:
https://openmicroc.com/
