As an adult, he saw the lack of resources within the African-American community in Los Angeles, and so he launched Publisher Group, LLC in 1998 to help meet those needs. He was able to secure three companies to advertise in his magazine (Hughes L. Space Corporation, Bendix Corporation and General Dynamics), and now has a circulation of 40,000 readers.
“We pay more for editing and graphic design because we don’t have any in-house editors or designers,” Calvin explains. With a loan of $9,600 from Kiva and PACE, Calvin will be able to hire two part-time editors and two sales reps for his company. He will also upgrade the desktop computer he uses to produce the magazine and obtain up-to-date software.
Calvin plans to increase his circulation from 40,000 readers to 100,000, and hopes more Fortune 500 companies will use his Publisher Group, LLC as a recruitment tool to reach people of color.
Calvin is working with PACE and Kiva because banks in his area do not lend to small businesses.
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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