Pacific Asian Consortium in Employment
United States
Last updated November 21, 2012
Partner Description:
Pacific Asian Consortium in Employment (PACE) is a large nonprofit community development organization based in Central Los Angeles, California. Founded in 1976, PACE offers training to low-income individuals and families seeking employment opportunities, business development skills, improved financial skills and affordable housing.
Over the past 35 years, PACE has broadened its services to meet the growing and changing needs of various ethnic groups, particularly the Hispanic community. In addition to job training and employment services, PACE’s programs encompass early childhood education, financial education, home weatherization and energy conservation.
Kiva lenders’ funds are used to support people who attend trainings but who PACE is unable to help due to capital constraints. The funds are also used to ease the organization’s loan collateral requirements.
PACE’s lending approach and impact:
Over the years, PACE has demonstrated initiative in meeting the needs of its clients and their communities by creating a wide range of tailored products and services. Since its inception, PACE has impacted 724,000 men, women, children and families.
Aiming to provide more assistance to its clients, PACE has created the Business Development Center (BDC) located in El Monte, California. PACE BDC offers programs and services to help entrepreneurs and business owners grow and strengthen their enterprises. BDC’s services -- business licensing, tax preparation, networking events, legal clinics and small business loans -- are helping to rebuild the business community in Central Los Angeles.
BDC has helped to create 80 businesses and over 250 jobs over a three-year period while building a reputation for delivering applicable business fundamentals, training and technical assistance.
Hear from PACE’s clients in this video:
Working with CAMEO:
PACE has partnered with Kiva and CAMEO (California Association for Microenterprise Opportunity) to promote microlending in California. In this partnership, CAMEO serves to support California microlenders, such as PACE, throughout its partnership with Kiva.
About CAMEO:
CAMEO’s mission is to grow a healthy, vibrant, thriving environment for all entrepreneurs and start-up businesses by advancing the work of its statewide member network. CAMEO believes a strong local entrepreneurial climate builds wealth and develops strong California communities.
CAMEO’s member organizations, a network of 55 training and 35 lending institutions, provide entrepreneurs with small and micro-business financing, asset-building programs, business technical assistance and business management training. In 2011, CAMEO members served 21,000 very small businesses with training, business and credit assistance and loans. These firms -- largely start-ups with less than five employees -- supported or created 37,000 new jobs in California.
CAMEO considers itself the voice of micro-business in California and nationally to promote the economic impacts of micro-business and self-employment. CAMEO serves to expand resources and build the capacity of its member organizations to increase business assistance and lending to underserved communities.
The CAMEO-Kiva collaboration brings new resources, investors and loan capital into the California micro sector and promotes best practices among microlenders by demanding high standards along with training. The Kiva brand will bring more attention to the economic impact of micro-business. As the largest network of microlenders in California, CAMEO is pleased to partner with Kiva to expand microlending in California.
Media courtesy of Pacific Asian Consortium in Employment.
Partner Description:
Pacific Asian Consortium in Employment (PACE) is a large nonprofit community development organization based in Central Los Angeles, California. Founded in 1976, PACE offers training to low-income individuals and families seeking employment opportunities, business development skills, improved financial skills and affordable housing.
Over the past 35 years, PACE has broadened its services to meet the growing and changing needs of various ethnic groups, particularly the Hispanic community. In addition to job training and employment services, PACE’s programs encompass early childhood education, financial education, home weatherization and energy conservation.
Kiva lenders’ funds are used to support people who attend trainings but who PACE is unable to help due to capital constraints. The funds are also used to ease the organization’s loan collateral requirements.
PACE’s lending approach and impact:
Over the years, PACE has demonstrated initiative in meeting the needs of its clients and their communities by creating a wide range of tailored products and services. Since its inception, PACE has impacted 724,000 men, women, children and families.
Aiming to provide more assistance to its clients, PACE has created the Business Development Center (BDC) located in El Monte, California. PACE BDC offers programs and services to help entrepreneurs and business owners grow and strengthen their enterprises. BDC’s services -- business licensing, tax preparation, networking events, legal clinics and small business loans -- are helping to rebuild the business community in Central Los Angeles.
BDC has helped to create 80 businesses and over 250 jobs over a three-year period while building a reputation for delivering applicable business fundamentals, training and technical assistance.
Hear from PACE’s clients in this video:
Working with CAMEO:
PACE has partnered with Kiva and CAMEO (California Association for Microenterprise Opportunity) to promote microlending in California. In this partnership, CAMEO serves to support California microlenders, such as PACE, throughout its partnership with Kiva.
About CAMEO:
CAMEO’s mission is to grow a healthy, vibrant, thriving environment for all entrepreneurs and start-up businesses by advancing the work of its statewide member network. CAMEO believes a strong local entrepreneurial climate builds wealth and develops strong California communities.
CAMEO’s member organizations, a network of 55 training and 35 lending institutions, provide entrepreneurs with small and micro-business financing, asset-building programs, business technical assistance and business management training. In 2011, CAMEO members served 21,000 very small businesses with training, business and credit assistance and loans. These firms -- largely start-ups with less than five employees -- supported or created 37,000 new jobs in California.
CAMEO considers itself the voice of micro-business in California and nationally to promote the economic impacts of micro-business and self-employment. CAMEO serves to expand resources and build the capacity of its member organizations to increase business assistance and lending to underserved communities.
The CAMEO-Kiva collaboration brings new resources, investors and loan capital into the California micro sector and promotes best practices among microlenders by demanding high standards along with training. The Kiva brand will bring more attention to the economic impact of micro-business. As the largest network of microlenders in California, CAMEO is pleased to partner with Kiva to expand microlending in California.
Media courtesy of Pacific Asian Consortium in Employment.
Repayment Performance on Kiva
Repayment Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Start Date On Kiva | Jan 28, 2013 | Oct 12, 2005 | |
|---|---|---|---|
| Total Loans | $29,950 | $426,347,875 | |
| Amount of Raised Inactive Loans | $0 | $232,675 | |
| Number Of Raised Inactive Loans | 0 | 211 | |
| Amount of Paying Back Loans | $29,950 | $94,105,575 | |
| Number Of Paying Back Loans | 3 | 101,728 | |
| Amount of Ended Loans | $0 | $332,009,625 | |
| Number Of Ended Loans | 0 | 435,163 | |
| Delinquency Rate | 0.00% | 1.97% | |
| Amount In Arrears | $0 | $1,188,111 | |
| Outstanding Portfolio | $28,705 | $60,351,625 | |
| Number of Loans Delinquent | 0 | 9,474 | |
| Default Rate | 0.00% | 0.97% | |
| Amount of Ended Loans Defaulted | $0 | $3,220,059 | |
| Amount of Ended Loans | $0 | $332,009,625 | |
| Number Of Ended Loans Defaulted | 0 | 9,823 | |
| Currency Exchange Loss Rate | 0.00% | 0.02% | |
| Amount of Currency Exchange Loss | $0 | $77,435 | |
| Refund Rate | 0.00% | 0.95% | |
| Amount of Refunded Loans | $0 | $4,068,925 | |
| Number Of Refunded Loans | 0 | 4,589 |
Loan Characteristics On Kiva
Loan Characteristics On Kiva| This Field Partner | All Kiva Partners | ||
| Loans To Women Entrepreneurs | 50.00% | 74.03% | |
|---|---|---|---|
| Average Loan Size | $9,983 | $407 | |
| Average Individual Loan Size | $9,983 | $646 | |
| Average Group Loan Size | $0 | $1,744 | |
| Average Number Of Entrepreneurs Per Group | 0 | 8 | |
| Average GDP Per Capita (PPP) in Local Country | $47,000 | $3,346 | |
| Average Loan Size / GDP Per Capita (PPP) | 21.24% | 12.17% | |
| Average Time To Fund A Loan | 7.44 days | 4.68 days | |
| Average Dollars Raised Per Day Per Loan | $1,341.51 | $86.89 | |
| Average Loan Term | 35.75 months | 9.61 months |
Journaling Performance on Kiva
Journaling Performance on Kiva| This Field Partner | All Kiva Partners | ||
| Total Journals | 0 | 203,709 | |
|---|---|---|---|
| Journaling Rate | 0.00% | 39.99% | |
| Average Number Of Comments Per Journal | 0.00 | 0.11 | |
| Average Number Of Recommendations Per Journal | 0.00 | 2.72 |
Borrowing Cost Comparison (based on 2009 data)
Borrowing Cost Comparison (based on 2009 data)| This Field Partner | Median for MFI Peers in Country | All Kiva Partners | ||
| Portfolio Yield | N/A | N/A | 35.02% | |
|---|---|---|---|---|
| Profitability (Return on Assets) | N/A | N/A | -0.38% | |
| Average Loan Size (% of Per Capita Income) | N/A | 23.90% | 46.53% |
Country Fast Facts
Country Fast Facts- Country:
- United States
- Capital:
- Washington, DC
- Official Language:
- Languages Spoken (2000 census): English 82.1% Spanish 10.7% Other Indo-European 3.8% Asian and Pacific island 2.7% other 0.7%
- Population:
- 307,212,123
- Avg Annual Income:
- $47,000
- Labor Force:
- Farming, Forestry, and Fishing: 0.6% Manufacturing, Extraction, Transportation, and Crafts: 22.6% Managerial, Professional, and Technical: 35.5% Sales and Office:24.8% Other Services: 16.5%
- Population Below Poverty Line:
- 12.5%
- Literacy Rate:
- 99%
- Infant Mortality Rate (per 1000):
- 6.26 deaths
- Life Expectancy:
- 78.11 years
Field Partner Staff
Susan BrownSwann Do
Steve Meng
Dandan Shan
Namoch Sokhom