However, this success stands in stark contrast to the disaster Mariana faced in October 2012 when Hurricane Sandy struck. With the borough of South River being so close to the Raritan River, the storm hit Mariana’s business and community harder than most. Many of the businesses located on her street are still shut down, without any plans of returning. Although Sandy forced Mariana to close for three months, she has worked hard to make 2013 a bounce-back year. Her revenue is now caught up to where it was before the storm, and she has replaced much of the supplies that she lost.
However, she still has more work to be done, and is still catching up with the damage from flooding and three months of closed business. Mariana will use this loan to pay for coat hangers, plastic covers and zippers she needs to run her tailoring and dry cleaning business.
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