King’s Restaurant is a family business, and Ali’s son and daughter are heavily involved in the business. The customer service and excellent quality food set Ali’s restaurant apart from other restaurants.
The funds from this loan will go toward purchasing a slow burner to offer rotisserie chicken at the restaurant. Ali also plans on expanding and opening another restaurant in a different location. Eventually, he would like to open other businesses, including a cyber café. Ali’s ultimate goal is to be able to employ others and provide jobs.
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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