Chad's Pet Shop, LLC started as a home-based business in November 2011. Chad's bird breeding experience, love for animals, and dream of opening his own business prompted him to move into a commercial space and open Chad's Pet Shop.
Chad is confident that his business will prosper as he fulfills a much needed service to the local community. "Thibodaux residents will no longer have to drive more than 30 miles to find a store that provides live pets and pet supplies because my store will offer quality and convenience to the public," explains Chad. Chad's future aspirations for his business is to open another store in the next two to four years, and eventually have three pet retail stores and two grooming/boarding facilities in Southeast Louisiana. Chad will use his Kiva loan for start-up costs and to purchase inventory and other supplies.
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.