When she arrived in the States, Blanca dedicated herself full-time to the hair salon profession. She has 12 years of experience in the industry and six of those years as the sole owner and founder of Columbia Hair Salon in the Adams Morgan neighborhood of Washington, D.C; a few blocks away from the LEDC headquarters. Blanca is requesting a $10,000 loan to renovate her salon. She would like to construct six new salon stations for her stylists. At the moment, the salon employs five stylists full-time. Blanca hopes that in the future she can employ additional stylists.
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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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