Started in March 2013, L.A.B. Gas Transportation now operates all over New Jersey. Based in Perth Amboy, the business is the only one of its kind in the area.
L.A.B.'s primary customers are acquired through word of mouth. In just nine months, Eulalio's clientele has grown from one to four large businesses. Eulalio considers himself very blessed for the growth of his small company, which employs a handful of his family members as well.
Eulalio hopes to open a two-pump gas station and eventually, he would like to franchise out L.A.B. throughout New Jersey. For now, Eulalio is looking to purchase two more 150-gallon tankers with pumps to transport gas to clients at various construction and boating sites. The loan will go toward the purchase of these items.
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