In 2008, they began to pursue that dream. It took a lot of hard work and a lot of searching, since financing was not easy to come by, especially in the economic downturn. However, Anne and her husband were able to receive a loan to purchase a store that was part of a franchise, The UPS Store. This store had been poorly managed for several years leading up to the sale, so upon taking over, they had their work cut out for them. Much of the equipment in the store was old and not functioning properly, and they realized that to make their business profitable, they would need to invest in new equipment or risk failing.
This Kiva loan will help them purchase the equipment they need to keep the store afloat and offer their services in the best manner possible.
More information about this loan
This loan is part of the Kiva City Los Angeles initiative in partnership with the Los Angeles Mayor's Office of Small Business and VEDC (Valley Economic Development Center). Kiva City Los Angeles 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.
Important InformationValley Economic Development Center (VEDC) is a non-profit community development financial institution and the largest provider of loans for small businesses and micro-entrepreneurs in the Greater Los Angeles area. In addition to loans, it offers extensive training opportunities, workshops, consulting and small business support services.
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