Auto Center Repair and Services provides general car repair and maintenance, including muffler repair and complete tire services. It is a small and “old style” shop, but with a loyal clientele and very personalized service.
Business has been steady for years, but Edgar is looking to modernize the business in order to maintain the business competitiveness and eventually to start expanding sales. Edgar is requesting $10,000 to update the equipment to the latest technology (new engine scanner and a tire balancing machine), to increase the inventory of supplies/parts, and to improve the client waiting room.
More information about this loan
This loan is part of the Kiva City D.C. initiative in partnership with LEDC (Latino Economic Development Center). Kiva City D.C. 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 Latino Economic Development Center:Latino Economic Development Center (LEDC) is a community-based nonprofit that equips Latinos and other DC-area residents with the skills and financial tools to create a better future for their families and communities. Participants in our programs learn how to buy and stay in their homes, join with their neighbors to keep their rental housing affordable, and start or expand small businesses.
Kiva lenders’ funds are used to help LEDC support even more small businesses in low- and moderate-income communities in Washington, D.C. The funds are used to ease loan requirements, including decreasing collateral, interest rates and fees associated with loan disbursement. With Kiva capital, LEDC reaches out to borrowers that may not have met all of LEDC’s existing criteria, allowing the organization to grow its lending operations through its new subsidiary the Community Asset Fund for Entrepreneurs.
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