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Lazaro
Lazaro’s grocery store and deli may be new – he just took over the business this month – but Lazaro is certainly no stranger to owning his own establishment. Realizing that Somerville had few Hispanic stores in the community and being a true entrepreneur, Lazaro identified that there was a need to be met. He founded his own smaller store four years ago, and it has done well thus far.

Originally from Mexico, Lazaro moved to New York 16 years ago. He may not possess a college degree, but he has business savvy. His new storefront in Somerville specializes in selling Hispanic and Mexican foods and other products.

The funds from this loan will go towards renovating Lazaro's store, including the purchase of new counters and tables, as well as making various repairs. Looking forward, Lazaro enjoys cooking and has obtained a permit to sell food in a restaurant setting. However, he has not determined a prime location yet. Eventually, he would like to expand into that area of the business.

Additional Information

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 Fund

The 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.

Tags

About United States

  • $47,000
    Average annual income
  • 15
    View loans »
    United States Loans Fundraising
  • $10,959,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $9,550 helped Lazaro to purchase new counters and tables for his Hispanic grocery and deli.
50% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 4, 2013
Listed
Dec 16, 2013
Currency Exchange Loss:
N/A