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Hector
Three years ago, Hector was given the opportunity to take over Dominican Express, the restaurant where he was working at the time. He sold his vehicle from his home in the Dominican Republic in order to purchase the business. The restaurant grew successful but was affected badly by Hurricane Sandy. Fortunately, the Intersect Fund provided him a grant to help rebuild his business.

Now with this loan, Hector plans to rent the space next to his restaurant to open a pizza shop. He is confident that the business will thrive, with its location near a college and its student clientele. Later, Hector would like to start a restaurant chain throughout New Jersey and eventually the Dominican Republic.

Additional Information

More information about this loan

This loan is part of the Kiva City Newark initiative in partnership with the Intersect Fund. Kiva City Newark 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 The Intersect Fund

The Intersect Fund (IF) is a rapidly growing, nonprofit microlender and a certified Community Development Financial Institution that equips entrepreneurs in low-income areas of New Jersey with the skills and capital they need to build profitable businesses. Since inception, the organization has served more than 500 entrepreneurs. Kiva lenders’ funds are used to impact an even greater number of entrepreneurs in New Jersey and help them boost their incomes.

About United States

  • $54,800
    Average annual income
  • 25
    View loans »
    United States Loans Fundraising
  • $12,054,425
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $8,875 helped Hector to fund the expansion of his restaurant after Hurricane Sandy.
90% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 25, 2013
Listed
Aug 30, 2013
Currency Exchange Loss:
N/A