New program aids entrepreneurs

ROCHESTER — A new city program will help entrepreneurs develop their small businesses and create jobs.

A local Kiva office opened last month, according to city officials. Kiva is a nonprofit, crowdfunding platform that provides business owners with accept to capital. Loans from Kiva Rochester, which has partnered with the Rochester Area Community Foundation, are offered at zero percent interest and no fees. Loan amounts can range from $25 to $10,000.

The program is designed to help underserved and low-income entrepreneurs who may not be able to obtain traditional business loans, according to city officials.

The Rochester Economic Development Corp. also has established a matching loan fund for Rochester business owners for loans up to $5,000.

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