Microfinance Nonprofits Explore A Merger to Expand Services

Kiva and Working Capital for Community Needs (WCCN) are two organizations focused on expanding access to capital for underserved communities through microfinance.  Both organizations take pride in the fact that they are creating access to financial services for individuals who are unqualified or unable to access traditional banking and credit services. Kiva does not pay its investors interest; however, they wanted to launch a new interest-paying note offering for investors and decided it was more financially prudent to merge with a partner that already had state registrations in place. As a registered broker in every state and with 35 years of experience, WCCN was a perfect partner with which to explore a merger.  A grant from the SeaChange-Lodestar Fund for Nonprofit Collaboration supported a portion of the cost of a consultant to facilitate the exploration process.

Grant Information

Grant Amount: $8,750

Year Granted: 2019

Grantee: Kiva

Location: CA - California

Grantee Website: Kiva