Monday, February 8, 2021

bosco for sbhf32!

For Black History Month, Kiva had several sources who agreed to match the loans to black-owned businesses in the United States.
The deal was for one day only - this day - and, even though I had a post-it on my kitchen cabinet, the opportunity nearly escaped me.
It was after 11 PM when I found my way onto the site and the pickings were slim.
Most of the businesses were car-rental establishments...
nah, that did not appeal to me.
However, one featured an invention - that's more my speed!
Moreover, it involved making music - oh, yeah, sounds good!
(Get the little pun? Yes, that was intended!)
(smile!)
So, the winner of my money is: Electrospit!
Here's a little bit about this woman-owned and black-owned business.
 
 
"A loan of $15,000 helps a black & women-owned business retain employees and build an award winning musical instrument.
 
Bosco's story

I was born in Ghana, West Africa, and raised in Portland, Oregon to a family of engineers and musicians.
At family gatherings, my grandma played the trumpet and my mom taught us math games.
I've been producing music since winning some music equipment in a breakdancing contest at 10 yrs old.
The journey's led me to Tonight Show appearances, #1 billboard hits, and Grammy nominations.
I fell in love, got married, had a kid, and moved from LA to Oakland.
I've experienced first hand the challenges and instability of a career in music, but I was determined to stick with my passion.
While searching for a new way for myself and other artists to make a sustainable living from music, I discovered the Zoo Labs Music Residency Program and Music Tech Incubator.
With some key mentorship from Zoo Labs (and a Kiva loan we repaid in full), I leveraged my USC Mechanical Engineering degree and Music Production experience to invent a new musical instrument and co-found the World's 1st Black and Women-Owned Music Tech Hardware company: ElectroSpit Inc.
This loan is special because:
It helps a repeat Kiva borrower continue to grow their business.
"
 
Very nice demonstrations of the instrument, too, on their website.
There was one snag, though.
The money I put forward was to have been matched, but it was not.
Still, I did my part, in honor of the 32nd Annual Savannah Black Heritage Festival.
I think Sam Johnson would most definitely approve of my choice.
This one's for you, kid!
(smile!)

4 comments:

Bosco via kiva said...

Oh, coolness!
The young man replied to my loan by thanking me!
*** *** ***
An update on your loan to Bosco

Thank you so much to all of you for putting your trust in me and the ElectroSpit team! We'll be putting this loan to good use paying our team of employees to build the award winning ElectroSpit Tubeless Talkbox right here in Oakland with California love!!! Please follow us at Instagram.com/electrospit to see and hear the ElectroSpit talkbox in action and keep up with the team. Thank you for supporting a black business, a women owned business, an Oakland business, a California business, and a US business! Thank you Kiva.org for this innovative and impactful platform! Special thanks to UptimaCoop.com , Runway.family and ZooLabs.org !!!! Please support these amazing organizations that have been instrumental in helping ElectroSpit and so many other incredible entrepreneurs launch their dreams and create jobs in our community! Stay funky, Bosco Kante p/k/a "Bosko" co-founder ElectroSpit Inc. ElectroSpit.com

kiva said...

Bosco in United States
$0.69 repaid this month
Paying back:
3% repaid ($0.69 of $25.00)

faustina said...

I had been concerned about this young man's loan, as he paid hardly anything back in 2021.
However, 18 months into the 42-month loan, he has repaid 33% - which is not quite where he should be, but shows definite progress.
So, that's good!
Whew!

faustina said...

Bosco is still in process of paying back.
He's up to 67% repaid, so, slow, but steady.
Progress!