In 2009, after exploring different ideas for businesses, Guadalupe started Multienvios, a small business in Langley Park, Maryland. She sells cell phones, calling cards, remittances services and a variety of merchandise ranging from jewelry to clothing. She started the business with funds she had saved for two years, and the business is profitable.
This year, Guadalupe seized an opportunity to expand her business into Virginia. By subletting a small space in Falls Church, she was able to register the business and hire a new full-time employee to work at the store.
Guadalupe's Kiva loan will be used to support her with funds to buy new inventory, including cell phones for the holiday season, for the Virginia store. Having been denied a traditional bank loan, the loan will also help Guadalupe strengthen her credit history in the United States.
She currently lives in Silver Spring with her partner and their new 8-month-old son, David.
More information about this loan
This loan is part of the Kiva City D.C. initiative in partnership with LEDC (Latino Economic Development Center). Kiva City D.C. is a subset of Kiva City, a program that allows Kiva lenders to make microloans to small businesses in the United States with the help of community organizations and U.S. Field Partners.
About Latino Economic Development CenterLatino Economic Development Center (LEDC) is a community-based nonprofit that equips Latinos and other DC-area residents with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable, and start or expand small businesses.
Kiva lenders’ funds are used to help LEDC support even more small businesses in low- and moderate-income communities in Washington, D.C. The funds are used to ease loan requirements, including decreasing collateral, interest rates and fees associated with loan disbursement. With Kiva capital, LEDC reaches out to borrowers that may not have met all of LEDC’s existing criteria, allowing the organization to grow its lending operations through its new subsidiary the Community Asset Fund for Entrepreneurs.
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Success!! The loan was 100% repaid