Turo Partners with Kiva and Nolo to Help Address Wealth Inequality in Disenfranchised Communities

Nolo is providing Turo Seed Hosts legal confidence to apply for a limited liability company and receive a loan for their small business venture.

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Nolo

Dec 02, 2020, 07:00 ET

SAN FRANCISCO, Dec. 2, 2020 /PRNewswire/ -- N olo, the nation's original and leading publisher of DIY legal products, today announced a partnership with Turo, the world's largest peer-to-peer car sharing marketplace.

Turo, in partnership with Kiva, a 501 non-profit organization, has launched the Turo Seed Initiative, a program providing up to $1 million in funding to help address wealth inequality in the United States, especially in traditionally underserved Black communities.

"Given the growing wealth disparity in the United States and the disproportionate impact of COVID-19 on minority communities, the Turo Seed Initiative is designed to help disenfranchised communities gain more access to economic growth opportunities," said Turo CEO, Andre Haddad. "We are pleased to partner with Nolo to offer Turo Seed Initiative applicants law services at special pricing to help ensure that they are well equipped to launch their small car sharing business."

Qualifying applicants of the Turo Seed Initiative will be featured on the Kiva platform to raise up to $15,000 through this initiative (with up to $7,500 crowdfunded from the Kiva community and a dollar-for-dollar match from Turo up to $7,500).

Due to the requirement that U.S.-based applicants must have a limited liability company (LLC) to apply on Kiva to distinguish that the loan is solely for business use, Nolo is providing a 25% discount on its filing fee for LLC creation support.

"The Turo Seed Initiative will give citizens in underfunded communities a much-needed helping hand toward gaining financial independence by establishing their own LLCs," said Nolo general manager, Steve Noel. "It's always been in Nolo's DNA to provide access to the legal tools people need to achieve their goals, so it's a natural fit to partner with Turo on this initiative. We very much look forward to seeing the change it helps create."

Nolo is a part of Martindale-Avvo, the leading online legal marketplace connecting consumers to attorneys.

About Martindale-Avvo
The leader in legal marketing, Martindale-Avvo helps attorneys grow their practice through exposure to 25 million consumers monthly. Martindale-Avvo drives prospects to attorneys with real-time lead generation, online legal profiles, live chat, website services, and lead intake and management tools. Its solutions comprise the online legal brands Martindale-Hubbell, Martindale-Nolo, Avvo, Ngage Live Chat, Captorra and Intake Conversion Experts (ICE).

About Turo
Turo is the world's largest peer-to-peer car sharing marketplace where car owners can earn extra money to offset the costs of car ownership, forging their path towards financial empowerment.

A pioneer of the sharing economy and travel industry, Turo is a safe, supportive community over 14 million strong with more than 400,000 vehicles listed worldwide and over 850 unique makes and models available. Whether you share your extra car to make ends meet or are looking to start a small car sharing business, hosts can share virtually any car to get their entrepreneurial wheels turning.

SOURCE Nolo