OAKLAND — Almost 270 Oakland small businesses received nearly $1 million in 2017 in Kiva loans — which are financed through online crowdfunding.

Kiva, headquartered in San Francisco, has offices throughout the world that manage the loans. Its office in Oakland, which was established in 2016, dispersed the most loans in 2017 — 267. That’s Kiva’s record for the number of loans funded in a city in one year.

About 77 percent of the loans were provided to Latino-owned businesses; 12 percent were provided to African-American-owned businesses. Women own 74 percent of the businesses that got Kiva loans.

The way it works is people go to Kiva.org and search through a list of profiles seeking loans. When they fine a business they want to lend to, they can opt to provide however much they want. When the borrower repays the loan, the lender can either withdraw the money or put the money toward a different loan.

Kiva business development manager Valerie Bellande attributed the organization’s success in Oakland to the community’s attitude towards small business development and equity.

“For us, Oakland has become a template for the national program,” Bellande said. “It’s been a great fit; it’s all about human connection, community-based investment and a different approach to capital and it makes a lot of sense for the Oakland market.”

Oaklander Feleciai Favroth, whose business Skincare by Feleciai received a $25,000 Kiva loan last year, said the loan was instrumental in growing her business. She’s using the money to hire an agency to improve the business’ product branding, hire more people and purchase equipment.

“Being a woman of color, it helps to have someone who believes in you,” Favroth told the Oakland Tribune. “It helps to have the actors who lend to you, who may not even be in the Bay Area, give you that support, even if it’s just saying, ‘You go, girl.’ ”