Joseluis gets the finished product directly from the manufacturing company, he loads it onto his truck and conducts sales. His wife, Adelina keeps the books and helps with the administration of the business. There are no other employees, but they plan to hire another sales rep as they grow.
This $5,000 loan will allow Joseluis to purchase a broader set of inventory from his manufacturer (which he has to pay for up-front). He had been turned down by several banks prior to applying with Fresno CDFI due to fact that he's just now getting his new product onto the market. This loan will help Joseluis build business credit and eventually access loans from more traditional sources.
More information about this loan
This loan has been made in collaboration with CAMEO (California Association for Micro Enterprise Opportunity) in order to build microlending capacity in California. In this partnership, CAMEO serves to support California microlenders, such as Fresno CDFI, throughout its partnership with Kiva. CAMEO’s mission is to grow a healthy, vibrant, thriving environment for all entrepreneurs and start-up businesses by advancing the work of its statewide member network.
About Fresno Community Development Financial InstitutionFresno Community Development Financial Institution (Fresno CDFI) provides affordable financing, training and technical assistance to individuals, small businesses and community facilities. Founded in 2007, it focuses its efforts on low- and moderate-income communities aiming to serve the financial needs of small business owners and entrepreneurs.
Kiva lenders’ funds are used to expand Fresno CDFI’s microenterprise loan fund with a focus on providing loans under $10,000. This is of particular importance to Fresno CDFI because the organization was initially created with the intention of servicing borrowers in need of smaller loans.
About United States
30View loans »