Husband and wife entrepreneurs Angelica and Roman started Colmex Construction, LLC in June 2008. Originally from Florida, the couple came to New Orleans after Hurricane Katrina to aid in the rebuilding process. Although the couple has 15 years of combined experience in all phases of construction, the business started solely as a framing company but has expanded its scope to provide general construction services. Colmex’s current projects include new construction and modification of existing homes to ensure that as many homes as possible are 100 per cent energy efficient. Angelica and Roman are glad they are able to create new housing and job opportunities for the residents of New Orleans.
Angelica and Roman will use their Kiva loan for operating expenses, such as payroll.
About ASI Federal Credit Union
ASI Federal Credit Union has been experiencing an increased rate of defaults. This is possibly related to the experimental nature of the loan products the organization provides. In order to serve asset-poor communities in New Orleans -- including many still recovering from Hurricane Katrina and the BP Oil Spill -- ASI offers loan products designed to help people start and grow businesses even if they don't have extensive collateral, credit histories, or business experience. For these reasons, these loans also carry a higher level of risk than typical loans on Kiva.