Crowd-funded lender increases loan sizes during COVID-19 outbreak

CLOSE

Here are five bills to pause payments on during the coronavirus. York Dispatch

Kiva, a crowd-funded lending platform, has increased its zero-interest loan program for small businesses and entrepreneurs amid the COVID-19 outbreak.

The company, which partnered with York City on February, is now offering loans of up to $15,000. The loans do not require interest, fees or collateral, according to a Friday news release.

Upon solidifying the partnership in February, when loans couldn't exceed $10,000, York City Mayor Michael Helfrich called it "a dream come true."

More: York City to roll out micro-loan program for small businesses

More: UPDATED: The latest closings and cancellations in York County

Those wishing to apply for loans or contribute to the crowd-funded program can do so at www.kiva.org. The city hopes particularly to benefit low-income, diverse businesses.

— Logan Hullinger can be reached at lhullinger@yorkdispatch.com or via Twitter at @LoganHullYD.