Big support for small businesses

Lobeck Taylor Family Foundation partners with Kiva to bring capital to local entrepreneurs

When Carla Meneses and her husband immigrated to Tulsa from Ecuador five years ago, she knew she wanted to continue doing what she loved, what she had always done: feeding people the wholesome, fresh Latin food she had grown up eating and preparing. With a background in catering, she knew she had the talent and the ability, but finding a commercial kitchen that was available and affordable proved difficult.

In 2015, a friend told her about Kitchen 66, a then-new initiative by the Lobeck Taylor Family Foundation meant to give entrepreneurs the support they needed to jumpstart their food business. Meneses was all in.

Now, two years after starting her successful catering operation, Que Gusto, she is ready to open her own restaurant with the help of Kiva, a non-profit micro-loan program that allows individuals in the community to support entrepreneurs with small, zero-interest loans.

“The 2016 State of Entrepreneurship report the Lobeck Taylor Family Foundation put together showed that the number one gap we’re seeing for small business and entrepreneurs was access to financial capital,” said Casey Allen, the Kiva program lead for Tulsa. “There are many people, especially in Tulsa and across Oklahoma, that need smaller amounts than what banks are interested in loaning, specifically in micro loans of less than $10,000. When that was established, the Lobeck Taylor Family Foundation started looking for an easy option to bring to Tulsa … but we wanted to look for something different.”

Around the same time, Kiva was pushing their Kiva City program, which was designed as a way to partner with community organizations and foundations in order to access underserved populations. The fit was a natural one, with the Lobeck Taylor Family Foundation agreeing to fund Kiva for the first three years as well as connect Kiva loan recipients with the resources necessary to successfully operate a small business.

“I really think the cool thing about Kiva is the connectivity of it,” Allen said. “I think many people come to Kiva because they need $10,000 to buy some tables and chairs, and Kiva is a great option for that, but what they really end up loving is that they end up with 500 new customers. It connects lenders as customers, Kiva businesses with each other as networks, and organizations that can help with all aspects of running a business.”

There are many barriers to small business ownership, especially for those who may have less-than-ideal credit or who lack personal access to capital (i.e., no rich uncles). Some have a great idea and a great product, but are without the social connections necessary to build a customer base. Kiva helps to fill those gaps, allowing more people who have traditionally been cut off from the necessary resources—such as minorities and women—to start a business.

“Small business owners and entrepreneurs are the people who are creating jobs and stimulating local economies,” Allen said. “And they are also the ones that are pulling in customer loyalty and brand advocacy for cities. In Tulsa, we have all the perfect pieces and parts to have an incredible entrepreneur ecosystem, but we want that to be an ecosystem that is inclusive for all people, not just someone who has a business degree or is inheriting a family business, but to anyone and everyone who has a goal.” 

Kiva Tulsa Live Launch + Tulsa StartUp Series Demo Day
Wednesday, November 15,  4:30–8:30 p.m. at Cox Business Center
4:30 p.m.—Doors open, Kiva Marketplace/Live Funding continues until 8:30 p.m.
5:30 p.m.—Kiva Launch (speakers include Kiva US Co-Founder Johnny Price)
6:30 p.m.—Tulsa StartUp Series Demo Day Finals

Free and open to the public with complimentary food and drinks