KIVA CHATTANOOGA

2021 UPDATE

THE COMPANY LAB

1100 Market Street, Suite 100
Chattanooga, TN 37402
Dear Kiva Supporter,

We are tremendously grateful for your support of the Chattanooga

Kiva program.

When we first launched in 2018, we were new to microloans and

LYA KIMBROUGH
the world of crowdfunding. Our mission was to provide access
to capital for small business owners with a focus on minority and CAPITAL ACCESS
female entrepreneurs. MANAGER

It has been both a great opportunity and a challenge, but Kiva is

succeeding by providing loans ranging from $1,000 to $15,000.
That funding is incredibly important for early stage — often
underrepresented — entrepreneurs. By providing access to this
type of capital, we have helped small business owners purchase
equipment, secure inventory, and turn side hustles into full-time
jobs.

To date in 2021, we have six fully funded loans to founders

ranging from a caterer and sheep farmer to a tech-enabled LINDSEY COX
woman’s gym. It has been wonderful to see that momentum CEO
continue with three loans on the platform in August, including one
close to reaching its funding goal.

This year also brought opportunities that lead Katie Hendrix,

CO.LAB’s first Kiva leader, to take on a new challenge at a
different company, and that opened the door for Lya Kimbrough to
step into the role of heading up Kiva.

Even with our transition between Kiva leaders, we are confident

the momentum will continue because more business owners are
understanding the possibilities Kiva provides in the microloan
space. In fact, we have shared our experience and knowledge
with the state, as well as other funders in the area, because Kiva is
unique in the capital stack.

We are confident that your investment over the past three years
will have lasting impact for the twenty-two funded Kiva borrowers
but — more specifically — it has demonstrated that the future of
entrepreneurship in Chattanooga is bright.

Thank you again for your belief in this program and your generous
support in launching Kiva Chattanooga.
 THE NUMBERS

100 5
hosted companies
Community funded in
Events Q2 of 2021

3 years of Kiva
in Chattanooga
375
Wayfinding
meetings featuring
Kiva with businesses

$
124,000
in loans to local businesses 22
companies
funded
(to date)

KIVA + PARTNERSHIPS OUR BORROWERS

4 TRUSTEES EMPOWERING KIVA

THROUGH THEIR NETWORK INCLUDING:
30+70+
30
70%
MINORITY
FOUNDERS
45+55+
45
55%
FEMALE
FOUNDERS

TRUSTEES are organizations invested in

economic development that source, vet and
endorse businesses before recommending to
CO.LAB for Kiva funding.

PARTNERS practice outreach in areas

where having access to capital is vital for
12 COMMUNITY PARTNERS, INCLUDING:
small businesses, with a special focus on
minority and female founders.

CHATTANOOGA is part of a network

of 40 cities offering Kiva, on a platform that
hosts over 230,000 lenders in the U.S. and 1.5
million lenders worldwide.

FOUNDERS are eligible for matches from

national partners such as Bank of America,
Paypal and Google.

ROADMAP
As we close out our third year of
Kiva in Chattanooga, we are looking
back with pride at the incredible
milestones local entrepreneurs have
reached.
Often inspired by a challenge,
entrepreneurs have stepped up
during the pandemic to start
businesses, and they are looking for
capital.
Kiva meets those capital needs,
but the process also instills
valuable lessons about raising
money through crowdfunding,
because — although it’s a zero-
interest loan with no collateral —
borrowers must still hustle to attract
contributions. If done well in the
beginning, this can create a lasting
foundation for a new business.
BONUS
With Kiva, lenders are kept up to
date about how their money is
benefiting the business.
Kiva is also a stepping stone for
businesses that need additional
capital but who have not been
in business long enough to gain
collateral to secure supplies to
produce a large order.
“Kiva makes it easy to raise
funds for an early stage
company, while indirectly
showing validation to the
business concept.”
KaDeadra McNealy
Millennial Nail Bar
Raised $8,000 in 48 hours moved
into a space two months later
“Kiva helped me obtain funds
for my startup company when
no traditional bank would...
At first I was nervous that I
wouldn’t be able to get fully
funded; but my family, friends
and the community on the Kiva
platform showed me that they
were people rooting for the
success of my business.”
Ella Livingston
Cocoa Asante
Raised $5,000 for new equipment
“My Kiva loan kept my doors
open during the very stressful
and financially trying time at
the beginning of the Covid
crisis. I’m very happy to now
be at a point where I can pay
it forward and help fund other
Kiva campaigns.”
Amber Droste
Soda, Ash, & Sand
Raised $3,000
HIGHLIGHTS THROUGH
THE YEARS
SEPT. 2018 • Hired & trained Kiva lead
OCT. 2018 • Kiva Kickoff at Will This Float?
NOV. 2018 • 1st loan funded for Jinan’s Kitchen
FEB. 2019 • Established advisory committee with partners
organizations
MAY-NOV. 2019 • Partnered for “City of Chattanooga Doing
Business with the City Vendor” events
JULY & AUG. 2019 • Hosted events with La Paz supporting
hispanic founders
OCT. & NOV. 2019 • Partnered with UTC on Power of
Crowdfunding event
JAN. 2020 • Partnered with TN Driving Innovation’s Biz Growth
Roadshow in area rural counties
FEB. 2020 • Hosted “Level Up Your Hustle” event in
partnership with Urban League
APRIL 2020 • Partnered in the Small Business Stabilization
Fund committee
MAY 2020 • Began hosting the COVID-19 Small Business calls
JUNE TO OCT. 2020 • Hosted/participated in virtual talks on
funding & COVID-19 with partners
JAN. 2021 • Hosted partner meeting
JULY 2021 • Kiva Chattanooga made a Lead transition
AUG. 2021 • 22 companies funded to date
 CHATTANOOGA
BUSINESS DIRECTORY
BOOMRNG • STEPHANIE KOUKAS
Updated website/app integrations and plan to launch at the end of 2021
CHEF CHASTY • CHASTY HARRIS
Paid rent in commercial kitchen, which allows her to cater for any type of need
COCOA ASANTE • ELLA LIVINGSTON
Bought quality product boxes, and high-quality product shoots to market her
chocolate
CPRWRAP • FELICIA JACKSON
Constructed a product that could serve as a template to help guide someone
during an emergency situation
GMST TRANSPORTATION • REGINALD YEARBY
Provided jobs for those in the local inner city
HASHTAG MALL, LLC • ERROLL WYNN
Paid for app integration and launch a podcast to further connect
with their audience
JINAN’S KITCHEN | ABDULWAHAB ALABID
Continued his family-owned catering service
JR SPA | NIGHAT JOSEPH
Upgraded her inventory to provide a better service for her customers
KINGSHIP CHESS ACADEMY | ANTHONY GLADDEN
Developed a program for kids to learn heighten decision making skills through
chess
MAMA CRUNK’S PIES | CHRISTINE NGUYEN
Partnered with other local eateries on a pop-up campaign to promote her product
MARCKITA’S MUNCHIES | MARCKITA WILKES
Launched a professional website and has been able to manage new clientele
through the upgraded system
MILLENNIAL NAIL BAR | KADEADRA MCNEALEY
Continued to grow her business and is adding her mobile nail tech service
NEUTRAL GROUND | KENYATTA ASHFORD
Funds helped in hiring unemployed restaurant workers during the height of the
COVID 19 pandemic & was the winner of Food Network’s show “Chopped”
NOBLE BEAR FARM | DARRIN INGRAM
Purchased a fence around their stock to deter hunting dogs from their farm
RIDESPIDER | DENNIS KERLEY
Used funds to promote new service to the community
SODA, ASH AND SAND | AMBER DROSTE
Grew her business through high profile contracts and credits Kiva for saving her
business
SOUL SANESSASSARY | SANESSA WOODS
Has put a payment down on brick and mortar
SQUEAKY CLEAN | LUIS SILVA
Provided better equipment and training for employees to enhance their customer
experience
TEQTOUCH | GABLE EATON
Expanded its standard product to make corporate branding available
THE BAR STUDIO | ABBY BADGETT
Created a safe space for hard-working moms to come and feel encouraged and
supported in their fitness journey
THE BITTER BOTTLE | KALEENA GOLDSWORTHY
Started off as a solo worker in a manufacturing space, and has now grown her
business with hired employees in a restaurant incubator
TOR-SO BEAUTIFUL | SHERYL BENFORD
Partnered with local nonprofits to provide workshops for young females to help
realize their strength and purpose
YELLOW RACKET RECORDS | BEN VANDERHART
Reinvested in their physical retail space as they prepared to open and have
recently celebrated they 1-year anniversary
APPENDIX A
METRICS
# of Applications 54

# of Local Loans Posted 29

# of Local Loans Funded 22

Total Local Loan Amount Funded $124,000

Average Local Loan Amount $5,166

Average Local Borrower HH Income N/A

# of Local Trustees 4

Asian 5.9%
Black/Afr-Amer 54.2%
Hispanic 5.9%
Ethnicity Distribution (30% Minority)
Native Amer. 0.0%
White 37.5%
Other 5.9%

Female 60.4%
Gender Distribution (40% Female)
Male 39.6%

Food/Beverage 25.0%
Arts 12.5%
Healthcare 10.0%
Industry Distribution Technology 7.5%
Construction 7.5%
Transportation 5.9%
Online Retail5.0%

Average Years in Business 3

Regional Repayment Rate 85.63%

 APPENDIX B
FINANCIALS & BUDGET UPDATE
Year 1 Actual Year 2 Year 3
3 Year
Financials Budget Budget
Budget
9/1/18- 12/31/19 1/1/20-12/31/20 1/1/21-12/31/21

Total Funding $289,000 $203,000 $54,000 $43,000

Kiva Lead
Compensation + $133,270 $59,153 $44,352 $46,570
Benefits

Kiva Lead Training &

$9,000 $1,100 $1,000 $2,731
Technology

Program Administration
$85,730 $38,658 $27,800 $27,800
and Support

Kiva Launch Event $11,000 $9,836 $0 $0

Funds to Kiva $50,000 $10,000 $10,000 TBD

Kiva COVID-19
$11,000
Relief Grant

Total Expenses $289,000 $118,747 $94,152 $77,101

TIMELINE UPDATE
Due to the delay in the launch of Kiva cities in 2018, including Chattanooga, we
have shifted the three-year timeline to end in calendar year 2021. Year 1 began
September 1, 2018 and ended December 31, 2019. The extra 4 months in year
one reflects the hiring and training for the Kiva Lead. We believe this best reflects
the timeline under which we can measure outcomes and evaluate the impact of
the program. The table below includes the year 1, year 2, and year 3 activities as
outlined in the proposal. We have updated the table for activity status and/or dates
for future activities.