Crowdfunding Program For Women Entrepreneurs

Mayor Bill de Blasio and the not-for-profit crowdfunding platform Kiva.org today launched WE Fund: Crowd, a first-of-its-kind City-led crowdfunding program to help women entrepreneurs access affordable capital and start businesses in New York City. Through Kiva, women entrepreneurs can apply for crowdfunded loans of up to $10,000 and the City will contribute the first 10% of their loan request. The program is designed to reach at least 500 businesses over three years.

Crowdfunding means raising money from many people, typically through a campaign on the internet. WE NYC has partnered with Kiva, a platform specializing in crowdfunded loans, to help more women entrepreneurs achieve crowdfunding success.

WE Fund: Crowd helps address the gender entrepreneurship gap:

• Seventy percent of women entrepreneurs in New York City cite access to capital as a major challenge as they launch and grow companies.
• While approximately half of women entrepreneurs in New York City seek less than $10,000 when launching a business, traditional financial products are often unavailable in small amounts and non-traditional financial products typically come with high interest rates.

Make NYC the 1st investor in your crowdfunding campaign!

Entrepreneurs interested in the program should visit we.nyc.