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Angel
Angel and his family own a chain of grocery stores in Elizabeth. His father owned grocery stores after emigrating from Cuba in the ‘60s, and the business remains in the family to this day.

Without formal education, Angel and his family were able to grow the grocery chain. The deli portion of the grocery store offers hot sandwiches, salads, and soups—making availability and variety of products something that sets the grocery chain apart from their competition.

The funds from this loan will go toward new equipment and merchandise, such as coolers and an ice machine for the deli. Eventually, the family would like to purchase the commercial property that the grocery stores are located on.

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

  • $54,800
    Average annual income
  • 28
    View loans »
    United States Loans Fundraising
  • $12,059,850
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $5,425 helped Angel to purchase coolers and an ice machine for family-run grocery chain.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 13, 2014
Listed
Jan 29, 2014
Currency Exchange Loss:
N/A
Ended:
Mar 17, 2015