Salisbury City Council has recently pushed the pause button on the KIVA loan program they committed to in 2021, even after substantial investment in the program. Pete Prunkl, a local investor, respondshttps://www.salisburypost.com/2022/02/13/letter-when-will-kiva-resume/.
When the Salisbury City Council recently paused the KIVA no-interest, no-fee loan program, their action got personal.
I invested in a KIVA loan to help Alissa Redmond buy the storefront for South Main Book Company. I thought that the money I and others loaned to Alissa would be matched by the city of Salisbury. When Kiva was approved by City Council last year, Mayor Alexander said it was “a perfect opportunity to empower micro-entrepreneurs and minority and women-owned businesses.”
The city has already invested tax dollars in what seemed like a simple and beneficial idea. Now, just when the program is finally being used, the council pauses it. Investors want to know when will KIVA be un-paused.