Capitol Park is one of the hottest areas in downtown Detroit. The neighborhood, which is home to some of downtown's oldest and most inspired architecture, is seeing the development of high-end apartments and arrival of new businesses at rates unheard of in recent decades.
Before Capitol Park's current boom began, however, Josh Greenwood was making a big investment in the future of the neighborhood. He started renovating his space on the northwest corner of Grand River and Griswold in 2005. By 2008, he was finally able to open
the Urban Bean Co., only to see it close shortly thereafter, a victim of the national economic downturn.
In 2013, however, Greenwood and a new partner were able to re-open the shop
Today, as new competition moves into the neighborhood, Greenwood and the Urban Bean Co. are hoping to secure a crowd-funded, interest free Kiva Zip loan of $5,000 to modernize its equipment and remain competitive with national chains.
"Now other organizations are looking to move in, which is great," writes Greenwood on Urban Bean Co.'s Kiva ZIp page. "But as an independent retailer, we need to upgrade to compete to stay in this neighborhood."
According to Kiva Zip, "Repayments on the borrower’s loan will be in monthly installments of $208.33 over a period of 24 months. The first payment will be due from the borrower one month after the loan has been fully funded and the funds have been disbursed to the borrower.
At the time of this writing, Urban Bean Co.'s loan is 67 percent funded.
Read more: Kiva Zip