Carlos is already part of large network of contractors, having been working in the construction industry for 15 years. He is well known in the sector for having detailed work, and his good reputation allows Carlos to obtain contracts easily.
Originally from Peru, Carlos manages four employees in the company. He and his wife are both entrepreneurial; she opened a restaurant this year and also provides jobs within the community. Together they are raising two children.
The nature of his work means Carlos gets paid quarterly. The funds from this loan will be used for working capital to pay for transportation, labor, and material costs for one of his projects. Carlos looks forward to growing the company and hiring more employees in the future.
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