As the child of a family with a business background, Herbert always wanted to start his own business. He worked part-time in a gas station to put himself through truck driver training classes, hoping to start a transportation business. After graduation, he worked as a driver for someone else for six years to get the experience.
Now, Herbert wants to start his own trucking business to better raise his three children and care for his aging parents. He needs money for a down payment on a truck. He tried several banks, but because this is a start-up, he wasn’t able to secure a loan. Eventually, he learned about PACE from a friend. With a $10,000 PACE Kiva loan, he will be able to make a down payment on a truck.
Herbert hopes his new venture will help him to put his three children into college and give his parents a better life to live.
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 Pacific Asian Consortium in EmploymentPacific Asian Consortium in Employment (PACE) is a large nonprofit community development organization based in Central Los Angeles, California. Founded in 1976, PACE offers training to low-income individuals and families to help them meet the challenges of employment, education, housing and business development.
Kiva lenders’ funds are used to support even more people, especially those who attend training sessions but who PACE is unable to serve because of capital constraints. The funds are also used to ease the organization’s loan collateral requirements.
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