Business Bits

Entrepreneurs in the U.S. like Carlos Rojas and Ximena Morales, who own Huitzil Imports in Forest Grove, have been able to secure zero-interest micro-loans to purchase inventory, expand operations and achieve other goals for their small businesses thanks to Kiva and match-funders like Umpqua Bank.

Umpqua reaches Kiva micro-loan goal

Umpqua Bank, a subsidiary of Umpqua Holdings Corp., has reached an initial goal of deploying $1 million in micro-loans through Kiva, which uses a crowdfunding approach to provide micro-loans to entrepreneurs. Since April, the Umpqua Bank Loan Fund has supported nearly 200 BIPOC and women entrepreneurs, addressing a critical gap in access to funding for many micro- and small-businesses.