SHEBOYGAN, Wis. — When small businesses face difficult financial times, they often keep the struggle to themselves.

What You Need To Know

  • As social media and crowdsourcing opportunities grow, some businesses are becoming increasingly open about their struggles

  • Kelly Holstine opened Sheboygan’s Word Haven Book Shop in early 2022

  • Holstine decided to open up to her customers about the struggle during the tough winter months of lower business

  • She was able to secure a $8,500 loan through Kiva

Longtime customers may think all is well at their favorite restaurant, bar, or store until they see a “closed” sign on the door.

However, as social media and crowdsourcing opportunities grow, some businesses are becoming increasingly open about their struggles.

Kelly Holstine opened Sheboygan’s Word Haven Book Shop in early 2022. Holstine wanted to share her love of books with the community.

“I opened a book shop in Sheboygan, because when I moved here about a year and a half ago, there was no book shop. That is one of my favorite things to do in the town is to visit a book shop so I decided to open one,” said Holstine.

While it has been an exciting adventure, Holstine said it has not been easy. Summer 2022 brought an influx of tourists to the area, which kept the shop going.

However, as winter set in, times got tough.

“I feel like when January and February hit, when I was using my personal savings to pay my rent for the building and mortgage on my home. I realized this was not sustainable at that point and that is when I had to make the choice of do,” said Holstine.

Holstine decided to open up to her customers about the struggle. While she admits being vulnerable wasn’t easy, she felt it was something she had to do.

She told them times were tough.

“The more I did that, more positive responses I got, the more confident I felt or more brave I felt,” said Holstine.

Holstine also applied for a crowdfunding loan through Kiva.

Kiva offers a 0% interest loan but requires a portion of the loan to be crowdsourced. That means Holstine needed to reach out to the initial group of funders.

Holstine quickly discovered her customers and people in the community were very willing to help.

“I had an email ready to go, sent the link within 15 or 20 minutes we were in the second stage, and within 44 minutes the whole thing was over,” said Holstine.

Holstine was able to secure a $8,500 loan through Kiva. While it may not be a huge loan, Holstine said it has made all the difference to keep the business afloat.

“I feel really confident as a result of the ways the community has shown up for Word Haven that we are going to be here for a very long time,” said Holstine.

To learn more about Word Haven Book Shop, you can visit their Facebook page.

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