She also has a dream of starting her own business. She has been a stay-at-home mom caring for her children and is ready to start a new career. Proceeds will help her acquire four motorized portable electrical animals, which are coin-operated and fully controllable by children. She will also purchase portable flooring, two canopies, plastic fencing, a mobile generator, and a trailer to haul the equipment. The arena will consist of portable flooring that can easily be snapped together. Canopies will provide shade to riders, and plastic guardrails will enclose the 20 ft. x 30 ft. structure. She will set up a mobile arena for the rides at local flea markets, birthday parties, festivals, and other community events. Her husband will help her in the business.
She had been turned down by several banks prior to applying with Fresno CDFI due to the fact that the business is a start-up and she is offering a unique product that does not currently exist in the local market. The $10,000 loan will help her start the business and develop a business banking relationship.
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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 Fresno Community Development Financial InstitutionFresno Community Development Financial Institution (Fresno CDFI) provides affordable financing, training and technical assistance to individuals, small businesses and community facilities. Founded in 2007, it focuses its efforts on low- and moderate-income communities aiming to serve the financial needs of small business owners and entrepreneurs.
Kiva lenders’ funds are used to expand Fresno CDFI’s microenterprise loan fund with a focus on providing loans under $10,000. This is of particular importance to Fresno CDFI because the organization was initially created with the intention of servicing borrowers in need of smaller loans.
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