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Ricardo
Ricardo started working for the restaurant in 1993 as a bartender. At the same time, he was working as a sub-contractor, managing and operating six parking lots in Chinatown Los Angeles. He transferred his business operating skills and experience to Domenico’s in 2005 when he became owner of the restaurant. He streamlined the food ordering and tracking process by bringing in an electronic POS system; enhanced the security of the restaurant by installing a 24-hour surveillance system; and most importantly, increased the quality and freshness of food products.

His 22 years’ experience managing small businesses gave him the confidence and expertise necessary to ensure success at the new location in Old Town Pasadena. Domenico’s has maintained the same location for over 30 years. However, the facility and parking lot was in need of renovation and continued disagreement over the lease agreement also contributed to the decision to leave said location to seek one that would better serve the customers and continue the reputation and tradition of Domenico’s.

This KIVA loan will help Ricardo transition back into Pasadena and prepare the restaurant for re-opening.

Additional Information

More information about this loan

This loan is part of the Kiva City Los Angeles initiative in partnership with the Los Angeles Mayor's Office of Small Business and VEDC (Valley Economic Development Center). Kiva City Los Angeles 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.  

Important Information

Valley Economic Development Center (VEDC) is a non-profit community development financial institution and the largest provider of loans for small businesses and micro-entrepreneurs in the Greater Los Angeles area. In addition to loans, it offers extensive training opportunities, workshops, consulting and small business support services.

Tags

About United States

  • $54,800
    Average annual income
  • 27
    View loans »
    United States Loans Fundraising
  • $12,015,400
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD
Paying Back

This loan has been fully funded!

A loan of $5,000 helped Ricardo to pay for tenant improvements at his restaurant.
28% repaid
Repayment Term
40 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 23, 2014
Listed
Jun 17, 2014
Currency Exchange Loss:
N/A