Kiva, a global micro-crowdlending platform, has selected Clear Conscience Pet, a pet nutrition company, to crowdfund a US$25,000 loan on Kiva.org.
Kiva loans previously were limited to US$10,000, and Clear Conscience Pet was one of the first ten companies worldwide to be tapped for the US$25,000 “superloan” pilot program. Since 2005, Kiva has distributing over US$1 billion in loans to 1.7 million borrowers in 82 countries.
Clear Conscience Pet founders Anthony Bennie, winner of the Pet Industry Icon Award, and Amanda Malone Bennie, a 2017 winner of the Women of Influence in the Pet Industry Award, were sponsored for the loan by Kiva trustee Pennye Jones-Napier, co-owner of the Big Bad Woof stores in Washington, DC.
“We have known Anthony and Amanda for a decade, and watched them take their vision for a sustainable and thoughtful line of treats and SuperGravy food toppers to a national brand,” said Jones-Napier in a press release. “We are delighted to have the opportunity to endorse this loan. Clear Conscience Pet makes exactly the type of products that independent pet supply stores need to keep them competitive today.”
The loan is in the second week of a thirty-day “crowd lending” period, during which people around the world lend money by visiting the online loan page at Kiva.org. “We still have a few weeks for this loan to be fully funded,” said Amanda Bennie in a press release. “We are beyond grateful for the support we have received so far, but we have a tough challenge and hope that everyone who believes that our pets deserve exceptional quality food and treats will log on to our loan page and help us to achieve this goal.”
How Kiva “crowd lending” loans work
Kiva is an international nonprofit, founded in 2005 and based in San Francisco, that connects people through lending to help a borrower start or grow a business, go to school, access clean energy or reach other goals. After a borrower applies for a loan, the loan goes through the underwriting and approval process. The loan is then posted to Kiva for lenders to support during a fundraising period. Once the borrower repays the loan, lenders use the repayments to fund new loans, donate or withdraw the money.