share

Victor

Cafeto Coffee Shop

San Francisco, CA

[Image]
Personal Story

My name is Victor, I am soon to become business owner with my partner Abel, in the opening of our coffee shop Cafeto in San Francisco. We are seeking financing options to help us in our last efforts to launch this lifelong dream in providing a better way of life and future for my family.

I was born in a very poor and numerous family in Cordoba, Mexico, and was forced to start working at the age of 9 to help provide for the family. I had to abandon school to emigrate from my home town to Mexico City, where I thought I would find better employment and more money for my family; but with my low level of education my options were limited.

In my continuous quest of a better life I moved to North Carolina in 2001, working in whatever type of job came in hand. I remember the first time I got paid $120.- dollars, it seemed like an immense fortune to me. I had never had so much money in my life. Luckily ten years ago someone introduced me to a Coffee Shop owner through my church; at this place I finally found a good place to be for many years. This job gave me the opportunity of a consistent and reliable income and the opportunity to learn, develop my knowledge of the business, and strengthen my love for coffee, which it will always hold a very special place in my heart since my home town Cordoba is a rich coffee growing area.

Through these past years, I was able with a lot of work and sacrifice, to raise the capital that I am investing today in this dream of owning my own coffee shop. With this Project I hope I will provide a better and more stable life for my family; and opportunities to many people like me.

To me working in a coffee shop is not just a job. I love the work and it is what I do best with the skills that God has laid on my hands.

Business Description

Neighborhood Coffee Shop, conveniently located. We provide coffee drinks and others, either hot or cold. Other products provided in addition to drinks include a large variety of pastries, hot or cold sandwiches, salads and other food products, to consume there or to go for a light breakfast, lunch or snack.

What is the purpose of this loan?

Finish construction and decoration upgrades to clear operating license with the city of San Francisco. To help us finance the last part of the launching of our business and start operations as soon as possible.

Victor's loan is endorsed by Mission Economic Development Agency. The information below explains why his trustee thinks Victor is a great candidate for a Kiva Zip loan.
What is your relationship with the Borrower?

Ongoing client of the Business Development Program. Victor is working with a counselor on a detailed business plan to open a Coffee Shop in San Francisco.

How did you meet the Borrower?

Victor enrolled in MEDA's Business Development Program. He attended the Business Development Program Workshops and is now receiving technical assistance in business planning and financial projections.

How long have you known the borrower?

4 months.

Why are you endorsing this Borrower?

He is a hardworking entrepreneur with 6 years experience in the coffee shop industry. Aside from this business that he is in the process of launching, he is presently a retail merchant at the Flea market, activity that he has performed for the past two years in which he worked ongoing without holidays or weekends to save for his dream business.

What are the challenges that you expect this borrower to face in repaying his / her loan?

This will be a new location for this type of business, so it might take a while for sales to build up.

Please describe the due diligence you have done to ensure that the business plans of this Borrower are sound:

We are working on a one on one basis analyzing and evaluating the financial projections and marketing strategy of his plan. At the same time we are advising him in aspects of his strategy to ensure that projected sales happen. Post the opening of his business we will continue to provide ongoing assistance in other aspects of risk management to ensure proper cash flow management and efficient operations.

Why do you think this Borrower has the "character" to repay this loan?

During the time that he has been working with MEDA he has shown determination and leadership in pursuing his goals. His vision goes beyong this first location to expanding within a year's term. Over the last few years, Victor has been slowly building up his savings and he has shown a willingness to invest his own money in this business.

Please describe how a Kiva Zip loan to this Borrower will have a significant and positive social impact:

Victor is a young entrepreneur who is seeking a better way of life for his family. As a father of two and with a new baby on its way he is determined to build assets to secure his children's future when he is gone.

What do you think will happen to the Borrower in the event of default? i.e. What are the risks to the Borrower's life?

Because the borrower has a secondary source of income that he will keep, he should be able to continue supporting his living expenses at the same time as repaying the loan. The worst case scenario would be to refinance and renegotiate the term.

Please describe why this Borrower is requesting a loan from Kiva, as opposed to a traditional loan?

Being a start up, loan options are limited in the present economy.

67 Total
Ava_lucy_leaves_lg
Brooklyn, NY
Kim_heidi
Boston, MA
Img_1467
San Francisco, CA
Profile-capp-sm
San Francisco, CA
Post%20proposal
San Francisco, CA
Chris_whitten
Emeryville, CA
Self%20photo%20on%2011-29-11%20at%202.24%20pm
San Francisco , CA
Steveandlisa-2
San Francisco, CA
Cambodia
San Francisco, CA
Premalshah_2_small
San Francisco, CA
Timothy_payne
San Francisco, CA
Me
CA
Self2
San Francisco, CA
Thumb_image_missing
San Francisco, CA
Thumb_image_missing
Irvine
Me%20and%20ariel
San Francisco
Thumb_image_missing
San Francisco, CA
Profile_reasonably_small
San Francisco, CA
Alec%20@%20flux
San Francisco, CA
Fake%20smile%20in%20bath
Img_2266
San Francisco
Newheadshot
San Francisco, CA
Merrill
San Francisco, CA
Thumb_image_missing
San Francisco, CA
James
Syracuse, NY
Pollito
San Francisco, CA
Facebook28
Mountain View, CA
Images
Charlottesville, VA
Thumb_image_missing
North Little Rock, AR
Dsc_0221_1__1_
Menlo Park, CA
Thumb_image_missing
San Francisco, CA
Thumb_image_missing
SAN FRANCISCO, CA
P1010344
Los Angeles, CA
309190_574278244785_15402933_32358129_6182582_n
Palo Alto, CA
David%20profile%20picture
Salt Lake City, UT
Oliver_profile_pic
Baltimore, MD
Dscf2335
New York City, NY
Thumb_image_missing
San Francisco, CA
388105_2439325182765_1240830185_32476986_1236746816_n
San Francisco, CA
Copy%20of%20marie-therese%20by%20picasso
Berkeley, CA
Thumb_image_missing
San Francisco, CA
Loading comments...
ENDED

A loan of $5,000 helps me to finish construction and decoration of my coffee shop.

Disbursed Dec 21, 2011
Repayment Term:
12 monthly payments
Grace Period:
N/A
Listed:
Nov 29, 2011
Disbursed:
Dec 21, 2011
Paying Back:
Dec 22, 2011
Ended:
Nov 27, 2012

About Cafeto Coffee Shop

Industry:
Restaurant / Caterers
Years in Operation:
New Business
Follow:
Yelp
Badges:
Badge_repayment_gold_small

What are Borrower Badges?

Borrower Badges are a system designed to recognize and reward borrowers’ engagement with the Kiva Zip website.

There are two types of badges that are tiered like medals: Gold, Silver and Bronze.

  1. 'Repayment badges' are awarded for the on-time repayment of loans.
  2. 'Connectedness badges' are awarded for engagement with the Kiva Zip website.

This loan is endorsed by

Trustee Type:
Non-profit
Location:
San Francisco, CA
Badges:
Badge_repayment_gold_small Badge_connectedness_gold_small
On Zip Since:
Nov 29, 2011
(29 months)
Loans Endorsed:
14
Total Value:
$71,000
Fundraising/Raised:
1
Paying on Time:
6
Paying Back Late:
1
Repaid in Full:
4
Defaulted:
0
Repayment Rate:
99%
Why are you endorsing Victor?

He is a hardworking entrepreneur with 6 years experience in the coffee shop industry. Aside from this business that he is in the process of launching, he is presently a retail merchant at the Flea market, activity that he has performed for the past two years in which he worked ongoing without ho...

What are Trustee Badges?

Trustee Badges are a system designed to recognize and reward trustees’ engagement with the Kiva Zip website.

There are two types of badges that are tiered like medals: Gold, Silver and Bronze.

  1. 'Repayment badges' are awarded for the on-time repayment of loans.
  2. 'Connectedness badges' are awarded for engagement with the Kiva Zip website.
Innovations in person-to-person lending © 2005 - 2012 Kiva. All rights reserved. Kiva is a U.S. 501(c)3 non-profit organization.