Based out of Union City, Waldy’s construction business is small with less than seven employees. Waldy would like to focus on better marketing his services around New Jersey and expanding those services to compete with bigger companies.
Waldy wants to demonstrate responsibility through this small loan in order to apply for larger loans in the future. The funds will be used specifically to advance the costs of labor and materials, such as power tools, which is necessary in order to bid for larger projects.
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 FundThe 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.
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Success!! The loan was 100% repaid