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Eduardo
Eduardo is a proud businessman and immigrant from the Dominican Republic. He owns and operates an auto shop in New Jersey. Even though he specializes in car electronics, he covers everything from engines and transmissions to A/C and heater repair. Even though his Newark shop is located far away from the Jersey Shore, Eduardo still suffered significant damage from Superstorm Sandy. After the storm hit in October 2012, he had to close down completely for two weeks. For months afterwards, demand for his services dropped off, as the surrounding community was still recovering from the storm’s damages.

However, the second half of 2013 looked stronger for Eduardo and he is excited for a comeback year in 2014. As a first-time microloan borrower, he will use this loan to purchase a forklift and renovate his shop.

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
  • 17
    View loans »
    United States Loans Fundraising
  • $11,015,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $5,350 helped Eduardo to purchase a forklift and renovate his auto shop.
64% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 14, 2014
Listed
Feb 8, 2014
Currency Exchange Loss:
N/A