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Calvin
Calvin was born and raised in the city of Los Angeles. He started working at the age of 14 with the Los Angeles Times newspaper company as a paperboy. Calvin said, “My childhood life consisted of school, sports and working my paper route for the Los Angeles Times, which is a local newspaper in the greater Los Angeles area.” As a child, Calvin always dreamed of owning his own newspaper/magazine.

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.

Additional Information

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 Employment

Pacific 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.

About United States

  • $47,000
    Average annual income
  • 20
    View loans »
    United States Loans Fundraising
  • $11,189,025
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Expired
A loan of $9,600 helped Calvin to hire two part-time editors and two sales reps; also upgrade the desktop computer he uses to produce the magazine and obtain up-to-date software.
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 28, 2013
Listed
Jun 29, 2013
Currency Exchange Loss:
N/A
Expired:
Jul 29, 2013