Originally from Mexico, Lazaro moved to New York 16 years ago. He may not possess a college degree, but he has business savvy. His new storefront in Somerville specializes in selling Hispanic and Mexican foods and other products.
The funds from this loan will go towards renovating Lazaro's store, including the purchase of new counters and tables, as well as making various repairs. Looking forward, Lazaro enjoys cooking and has obtained a permit to sell food in a restaurant setting. However, he has not determined a prime location yet. Eventually, he would like to expand into that area of the business.
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 FundThe 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.
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Success!! The loan was 100% repaid