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Diego
Diego, a native of Peru, arrived in the United States ten years ago. Starting very young, Diego worked as a car salesman in his native country. However, once he arrived in the US, he worked in different jobs until he was able to work in his area of expertise.

While working at a car dealer, Diego acquired in-depth knowledge of how the car business operates in the U.S. To start his dream business, Diego obtained permits and licenses, leased a store locale, and passed inspections as a car dealer, a long, difficult and sometimes tedious task. The business began operating in December, 2012. Diego located the business in a Hispanic neighborhood to be able to service and target the Latino community with accessible prices and financing.

Diego is requesting a loan to finance the purchase of more cars, in order to offer his clients more variety and more deals through expanded inventory.

Diego is married and the family has three children.

Additional Information

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 Center:

Latino 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.

About United States

  • $47,000
    Average annual income
  • 19
    View loans »
    United States Loans Fundraising
  • $11,487,075
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $10,000 helped Diego to finance the purchase of more inventory, allowing him to offer his customers a wider variety of car brands and prices.
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2013
Listed
May 20, 2013
Currency Exchange Loss:
N/A
Expired:
Jun 19, 2013