Prairie Rose Development Corp.

A nonprofit organization

0% complete

$10,000 Goal

One in five Colorado households is unbanked or under-banked and can't access funds to start or grow a small business. We facilitate 0% / $0 fee loans up to $15,000 to help otherwise financially excluded entrepreneurs start, grow and/or build job creating business in Colorado communities.

Mission

The mission of Prairie Rose Development is to stimulate the creation, prosperity, and economic welfare of diverse small businesses creating sustainable, living-wage jobs within their communities

Background Statement

After a different nonprofit discontinued facilitating Kiva loans in Colorado in early 2021, Prairie Rose Development secured grant funding to operate a Kiva Hub in Colorado and hire two bilingual Capital Access Managers to provide technical assistance and support to new, emerging or established small businesses otherwise unable to secure financing on reasonable terms from other nonprofit or bank lenders in the state. Kiva loans are 0% and $0 fee loans up to $15,000 (average loan is around $8,000) provided through a crowd-lending platform, kiva.org.

Kiva loans are no-cost loans to help small business owners start, scale and prove-out a business model as they grow operations. Year to date, Prairie Rose Development has facilitated almost $200,000 worth of Kiva loans in Colorado. Some 74% of funding has gone to woman-owned businesses, 22% to Latino-owned businesses, 22% to BIPOC-owned businesses, and 13% to rural-based businesses.

Prairie Rose Development earns no income from facilitating Kiva loans and offers this service because Colorado's economy has traditionally been dependent on jobs created by new small businesses and no other nonprofit lender in the state is willing to offer funding and support to otherwise typically financially excluded entrepreneurs.

Organization Data

Summary

Organization name

Prairie Rose Development Corp.

other names

Kiva Colorado

Year Established

2020

Tax id (EIN)

85-1239978

Category

Community Improvement & Capacity Building, Employment

Organization Size

Small Organization

Address

16765 County Road 3
Kirk, CO 80824

Service areas

Denver, CO, US

Colorado Springs, CO, US

Summit County, CO, US

Mesa County, CO, US

Saguache County, CO, US

Phone

719-751-3470

Social Media