Kiva Zip: Crowd-fund your farm innovation
You likely have heard of Kiva.org, a micro-lending site that lends to the entrepreneurial projects of individuals in developing countries through crowdsourced financing.
A year-old project of Kiva is Kiva Zip, which flips the tables. Through Kiva Zip, individuals in the United States (and Kenya) can apply for an interest-free loan up to $5,000 for their project. This tool could be great for farmer-entrepreneurs with a well-developed innovation idea that want to market their innovation to others, and that need startup capital to bring this project online.
One Farm Hacker has already used Kiva Zip to do this – Louis Thiery, co-developer of the FIDO greenhouse monitor, applied for and received a $5000 loan through the service to produce 100 initial units of the Fido monitor. This loan allowed him to build the original FIDO unit, and also develop a second improved iteration, now called the Sentinel Bee, through his new business Apitronics.
To receive a Kiva zip loan, you must apply through a Kiva Zip Trustee, whom you can locate on the site. You also need to prove your business plan is viable, and be vouched for.
If you are applying for a loan, let us know at info [at] farm hack [dot] net, and we can vouch for your project! Once you are approved, your project is then posted to the site, where users (hopefully) crowd fund your project. The great thing about the Farm Hack community is that we can use our network to get out the word about projects, and ensure they get fully funded. Use that farm hack community capital!
Find more info about Kiva Zip on their website.