Al and Al One Stop Shop has been in business for nearly five years. Al and his dad, Al, repair tires, do car detailing and in the summer they make New Orleans' "snoballs" (a snow cone) for customers waiting in the heat. They employ three young men who reside in the Greater New Orleans area and have exposed these young men to the ideals of entrepreneurship, professionalism, and a stern work ethic. Al and his dad want to take Al and Al One Stop Shop to the next level and will use the Kiva loan proceeds to purchase a tire machine, a new balancer, and a scissor lift. Anything left over will be applied toward training, marketing, and supplies.
Special congratulations to Al, Jr. whose wife just gave birth to a baby girl. If you ever need tires, a great car wash or a snoball, stop in at Al and Al One Stop Shop on Earhart Boulevard in NOLA.
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.