Summary
On this episode of The Bentonville Beacon, host James Bell is joined by Martha Londagin, the inaugural Capital Access Manager for the Northwest Arkansas Kiva Hub, a non-profit that increases access to capital for entrepreneurs. Additionally, Martha is a Business Consultant at Startup Junkie, an organization that offers consulting services to entrepreneurs at no cost, and she is the creator of HER Entrepreneur Journey, a yearly series to encourage the development of woman-owned businesses in NWA. Throughout the episode, James and Martha discuss how Kiva provides funding opportunities for entrepreneurs when conventional lenders can’t, ways Startup Junkie and HER Entrepreneur Journey positively impact founders, and why Bentonville’s culture is ideal for small business owners.

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‍Show Notes
(0:52) Introduction to Martha
(3:18) About HER Entrepreneur Journey
(8:31) Startup Junkie’s Mission
(10:38) About the Northwest Arkansas Kiva Hub
(14:48) Ideal Micro-Borrowers
(18:33) Northwest Arkansas Success Stories
(22:28) The Kiva Loan Process
(28:17) Ideal Micro-Lenders
(33:43) Spreading the Word about Kiva 
(38:24) What Makes Bentonville Great
(45:07) How Bentonville Has Changed
(48:15) Bentonville in the Next Five Years
(51:29) Advice to Small Business Owners
(54:38) Closing Thoughts
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‍Links
JAMES BELL‍‍
‍BENTONVILLE ECONOMIC DEVELOPMENT‍‍‍
MARTHA LONDAGIN
STARTUP JUNKIE
KIVA NORTHWEST ARKANSAS

Quotes
“The Startup Junkie Foundation is funded by multiple grants and resources and it’s to appoint a mission-driven organization that believes that entrepreneurship improves lives, families and communities. And so we are here to empower innovators and entrepreneurs at every level in the nine counties of Northwest Arkansas.” – Martha Londagin, (9:04)

“By having hubs, by having a partner like the Walton Family Foundation pay a local nonprofit like Startup Junkie to get someone trained to offer the program, to have classes, to sit beside them…they are eighty percent more likely to finish the application and get approved.” – Martha Londagin, (14:08)

“That’s the whole point of Kiva. We want to help you build your business credit and get used to having a business loan and paying it back.” – Martha Londagin, (25:41)

“Bentonville has always throughout its history been a hub of commerce, and all of that is small business. And so if you want to come to a place that has at least one-hundred-fifty years of history being a great birthplace, a great place to develop and grow a small business, this is it.” – Martha, Londagin, (39:45)

Expanding Access to Funding for Small Businesses with Martha Londagin of Northwest Arkansas Kiva Hub
On this episode of The Bentonville Beacon, host James Bell is joined by Martha Londagin, the inaugural Capital Access Manager for the Northwest Arkansas Kiva Hub, a non-profit that increases access to capital for entrepreneurs. Additionally, Martha is a Business Consultant at Startup Junkie, an organization that offers consulting services to entrepreneurs at no cost, and she is the creator of HER Entrepreneur Journey, a yearly series to encourage the development of woman-owned businesses in NWA. Throughout the episode, James and Martha discuss how Kiva provides funding opportunities for entrepreneurs when conventional lenders can’t, ways Startup Junkie and HER Entrepreneur Journey positively impact founders, and why Bentonville’s culture is ideal for small business owners.‍‍‍
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Making Funding Accessible
Kiva is an online, nonprofit platform that provides funding opportunities for entrepreneurs where conventional lenders can’t. The Northwest Arkansas entrepreneurial community contains a multitude of sole proprietors and business owners that face incredible challenges when attempting to access capital. That is why Kiva partners with other nonprofits, microfinance institutions and various organizations to disperse loans to its micro-borrowers–and provides no-interest loans through community-based micro-lenders.

Kiva’s goal is to provide funding to underrepresented individuals such as immigrants, refugees, felons or marginalized groups. As a result, eighty percent of its loans go to women. Moreover, there are forty-six Kiva hubs across the United States, which means that in one way or another, forty-six foundations, chambers of commerce or economic development groups have expressed they want individuals in their region to receive help with Kiva’s online application process.
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“By having hubs, by having a partner like the Walton Family Foundation pay a local nonprofit like Startup Junkie to get someone trained to offer the program, to have classes, to sit beside them…they are eighty percent more likely to finish the application and get approved.” – Martha Londagin, (14:08)
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Empowering Small Business
Kiva is unique because it’s supported by grants and donations, whereas other platforms like GoFundMe and Kickstarter are for-profit companies. Although Kiva’s application process is not difficult, it is lengthy. Kiva differs from traditional banks or credit unions in that borrowers don’t have to meet a minimum credit score, don’t have to show immigration or citizenship documents nor do they have to provide audited financials and profit loss statements. This is why Startup Junkie helps borrowers complete the application process.
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An ideal micro-lender for the Kiva platform is an individual or organization that has a heart for others and believes it’s empowering when people are able to own their small businesses. Although anyone can apply for Kiva funding, certain business models are preferred, and businesses do have to meet some requirements such as being legal on a federal level. Additionally, Kiva does provide business credit reporting in an effort to ensure that its borrowers become bankable.

“That’s the whole point of Kiva. We want to help you build your business credit and get used to having a business loan and paying it back.” – Martha Londagin, (25:41)
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Get Connected!
‍Thanks for tuning in to this episode of The Bentonville Beacon! Join us weekly for more stories from entrepreneurs and business leaders who are making a positive impact on Bentonville’s culture, community and lifestyle. Don’t forget, Bentonville is a place where you can have more of what you want and less of what you don’t! You may reach James at JBELL@GREATERBENTONVILLE.COM or (479) 273-2841.