PRESS RELEASE - March 2, 2014
USChia receives "Growth Loan” from Access Ventures
Louisville, KY - There are great companies out there who could be creating value and jobs for our
community at a faster pace with greater access to capital within the first 3 years of operations. As
part of a holistic vision for venture philanthropy, Access Ventures has created two new revolving
loan funds for regional businesses! The most recent recipient of Access Venture's "Growth Loan" is
USChia.
USChia is at a tipping point, and was in need of more chia seed to meet demand in 2015. USChia’s
business model relies on access to ample amounts of US grown chia. By contracting with local KY
farmers, and leveraging a patent from the University of Kentucky for equine grade chia, USChia
was able to achieve savings for their chia grown in 2013. The harvest in 2014 was much smaller,
and a Growth Loan from Access Ventures enabled USChia to capitalize on a bulk order of Florida
(US grown). Without
the additional seed, USChia would quickly run out of product and miss out on sales opportunities
at upcoming world equestrian events. Finding cash to purchase inventory as quickly as possible was
crucial for survival. This was a triple win for USChia as they solved supply issues around oﬀering
US grown seed in 2015, improved profit margins with their largest bulk purchase ever, and did it all
without having to give up additional equity in the company.
The Growth loan is part of a three step solution which includes a second loan called a “Catalyst
loan” and Kiva Zip. All are meant to help a business grow early on, and become bankable within 2
to 3 years. In addition to the Growth Loan of up to $35,000, the Catalyst loan of up to $9,000 for
businesses in operation under a year, and. USChia is a great example of a business utilizing two
solutions at once by obtained a $5,000 Kiva Zip loan last fall for harvesting equipment. Access has
been a key promoter and
sponsor in the creation of Louisville’s Kiva City. Access Ventures is able to endorse local
entrepreneurs as a Kiva trustee, but other organizations and individuals are encouraged to make
endorsements as well. It comes down to understanding the purpose of the loan, whether the owner
has more social capital than financial, and choosing the loan (or loans) that are the best fit for their
business.
Access Ventures is an impact-investment group that deploys holistic investments to see
communities flourish. Our vision is to impact the world by helping all people, communities and
businesses realize their full potential. We provide capital to the best solutions and organizations
with significant potential for impact within the community. We create tailored and holistic
investment strategies that meet a variety of needs with a layered and integrated capital approach
predicated on our principle belief that all people
matter. We step into challenging situations, wrestle with its complexities, and create holistic
solutions that enable human flourishing.
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