Throughout my childhood and teenage years in Mexico, my parents were busy with our family business. This required me to prepare the meals for myself and my younger sister such that this constant exposure made me realize cooking is my true passion. Years later in my early twenties, I moved to the US and after learning English, I took culinary art classes at my local community college. Since then, I have been working in the food industry in various businesses. Since I believe healthy but tasty and creative food has the power to nourish one’s heart and mind, I created Bites & Bowls to provide healthy food to our diverse Northwest Arkansas community. I combine day-to-day authentic Mexican ingredients in American classic recipes to turn ordinary dishes into my original creations.
Adding to basket
Funded
A loan helped a female entrepreneur grow her healthy food options restaurant in her community.
Laura's story
This loan is special because:
More about this loan
Business Description
Bites & Bowls is a small eatery that offers a healthy breakfast and lunch in Springdale, Arkansas for families. Fresh salads, creative bowls with fruits and yogurts, healthy smoothies, fun savory and sweet waffle bowl creations and healthy but tasty sandwiches are part of their menu. Developing communities that have been growing with a thriving Hispanic/Latino population like ours need more family-friendly places that provide healthy comfort foods. I became aware of this need when I used to struggle on deciding where to take my toddler to enjoy a tasty but healthy meal together. Experiences like this motivated me in carrying out an idea that was conceived when I started my own career in the food industry years ago dreaming then of creating my own restaurant business someday. Bites & Bowls also is a source of employment for my community which welcomed me as an immigrant a few years ago. I provide employment to two amazing women that bring over 30 years of experience and are now like family. My sister that I fed in my teenager years is now my biggest supporter and a local business professional who guides me. She adds tremendous value to my day-to-day operations and strategic planning for my future. I’m the owner of Bites & Bowls, but I can proudly say that this is a family business we all support together. My goal is to become the locals first choice to get a healthy family meal that powers them up. I focus on running an efficient business that provides an unforgettable experience to our customer by creating amazing food served by an empowered team. However, the biggest challenges we currently face is to meet demand in rush lunch time & promote Bites & Bowls in different marketing channels to drive additional sales during breakfast. I have recently partnered with a popular local delivery service called Luncher that is growing my business, and I want to increase my catering options as well.
What is the purpose of this loan?
A $6,000 KIVA loan will be used for a combination of equipment and marketing to balance lunch time rush efficiency needs and marketing to increase our sales during breakfast and spread the word about our Luncher listing and catering options. The panini maker ($750) is going to reduce the lunch rush time generated by Luncher sales. One additional waffle maker ($750) will allow us to reduce wait time for our customers and upgrade one of our waffles makers to a higher quality. A street sign ($3,500) on the nearby busy street will increase awareness and visibility of our dine-in restaurant. Our store is located in a nice shopping plaza by a four-lane highway with an average daily traffic of over 20,000 cars; however, our spot is not directly visible to many cars passing by so quickly. We are looking to attract new customers that commute daily by this busy street and a sign will help. Additionally, we would like to advertise with a local marketer Leisurlist ($400) that promotes via its high follower social platforms, to reach over 13,000 viewers and users in Northwest Arkansas each day. Lastly, we will use the remaining requested loan funds to grow our social media presence on our platforms with Fecebook and Google Ads for the additional $600 of the loan request.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Lending Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Lending Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Lending Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Lending Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Lending Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Lending Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Lending Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Lending Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Lending Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
We also encourage you to read the following articles if you are interested in further educating yourself on the topic: Microfinance 101 (https://www.kiva.org/microfinance), Top 10 things to know about microfinance (https://www.kiva.org/blog/top-10-things-to-know-about-microfinance), Microfinance interest rates explained (https://www.kiva.org/blog/whats-up-with-microfinance-interest-rates)
What is a risk rating?
The Lending Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Lending Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Lending Partner section of every loan. Lending Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Lending Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Lending Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
About Bites and Bowls
Lenders and lending teams
Country: United States
Trustee: StartupJunkie.org
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Laura?
Startup Junkie Foundation has been working with Laura for many months on her business operations growth plan. Bites & Bowls is a well-respected and well-received addition to the Northwest Arkansas restaurant community. Startup Junkie Foundation will continue to work with Bites & Bowls to grow its business and revenues and be a successful addition to the Springdale community and add diversity to its Hispanic and Latino small business community which is thriving and vital to that community for its future. Owner Laura is very experienced in the restaurant industry and has an excellent support team and customers behind her offering encouragement and support to her.
Tags
Loan tags help lenders find loans that match certain areas of interest.
Loan details
Loan length:
Repayment schedule
Monthly: One repayment made per month
End of term: One repayment made at the end of the loan term
Irregular: Any other repayment schedule
To see a detailed repayment schedule for a specific loan, click the "Repayment schedule" link on the loan profile under "Loan details."
What is the disbursed date?
In the case of partner loans, many of our Lending Partners choose to disburse loan funds before the loan request is posted on Kiva. We allow pre-disbursal because it ensures that the funds reach the borrower as soon as they are needed. Loan funds from Kiva lenders then go to backfill that amount and as a lender you assume the risk of the loan. By doing this, our Lending Partners assume the risk that, if the loan isn't funded by lenders, they will have to fund the loan without any funds from Kiva.
If a partner loan is not pre-disbursed, it will be listed on Kiva with an expected "post-disbursed" date. If a post-disbursed loan is not funded on Kiva, there is a chance that the borrower may not receive their loan. Some Lending Partners choose to disburse loans with other sources of funding, while other partners don't have the resources available to fund loans without Kiva lenders' support. No direct loans will be disbursed unless they fully fundraise on Kiva.
Funding model
What does "Partner covers currency loss" mean & how could it affect my Kiva loans?
Potential for currency exchange loss is noted on every loan profile under the loan details:
"Yes" means the Lending Partner will cover any currency loss. Lenders will not bear losses due to currency fluctuation
"Partial" means that the Lending Partner has opted to cover losses only up to 10%. If the U.S. dollar appreciates more than 10% against the local currency, those losses will be passed onto lenders.
"No" means that the Lending Partner is not covering any currency losses and all losses will be passed onto lenders.
"N/A" means the Lending Partner disburses loans to borrowers in USD so their loans are not subject to any currency fluctuation.
Do Kiva borrowers pay any interest on their loans?
Our partners collect interest from borrowers because there are many operational expenses associated with microfinance in developing markets, especially in rural areas. Many of Kiva's Lending Partners also provide additional services alongside their loan products such as business training, financial literacy lessons, or health services.
Kiva will not partner with an organization that charges unreasonable interest rates, and we require Lending Partners to fully disclose their rates. In addition, we only partner with microfinance institutions and organizations that have a social mission to serve the poor, unbanked, and underserved.
There are some 0% interest loans on Kiva, including all direct loans in the United States. To learn more about the interest rates Kiva borrowers pay, you can review the "Average cost to borrower" field on a loan profile.
We also encourage you to read the following articles if you are interested in further educating yourself on the topic: Microfinance 101 (https://www.kiva.org/microfinance), Top 10 things to know about microfinance (https://www.kiva.org/blog/top-10-things-to-know-about-microfinance), Microfinance interest rates explained (https://www.kiva.org/blog/whats-up-with-microfinance-interest-rates)
What is a risk rating?
The Lending Partner risk rating reflects the risk of institutional default associated with each of Kiva’s Lending Partners. A 0.5-star rating means the organization has a relatively higher risk of institutional default, while a 5-star rating indicates the organization is at a relatively lower risk of default, based on Kiva's analysis and the available information displayed in the Lending Partner section of every loan. Lending Partners with the lowest credit tier undergo a lighter level of due diligence and do not receive a risk rating; instead, in places where a risk rating would normally appear, these partners are labeled as “Experimental.” For more information, see "What is an Experimental Lending Partner?"
Direct loans also do not receive a formal risk rating. Instead, these loans are approved through “social underwriting”, where trustworthiness is determined by friends & family lending a portion of the loan request, or by a Kiva approved Trustee vouching for the borrower. Direct loans will appear as "Unrated" and lenders should always assume these loans represent the highest level of repayment risk on Kiva.
How are loans facilitated?
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
More information about successive and concurrent loans
Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Lending Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These additional loans are typically smaller than the borrower's primary loan and serve a different purpose. We trust our partners to determine whether a borrower has the means to be able to repay a successive or concurrent loan.
Trustee: StartupJunkie.org
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Laura?
Startup Junkie Foundation has been working with Laura for many months on her business operations growth plan. Bites & Bowls is a well-respected and well-received addition to the Northwest Arkansas restaurant community. Startup Junkie Foundation will continue to work with Bites & Bowls to grow its business and revenues and be a successful addition to the Springdale community and add diversity to its Hispanic and Latino small business community which is thriving and vital to that community for its future. Owner Laura is very experienced in the restaurant industry and has an excellent support team and customers behind her offering encouragement and support to her.
You are opting out of using Free Trial.
You have selected to not use your Free Trial and will be prompted to pay for this loan using your own money.
Agree Use a Free TrialShoot! This loan is ineligible.
Your free credit can't be applied to this loan. If you would like to make a loan to this borrower anyway, you will have to use your own money.
Lend Anyway Find an Eligible LoanYou cannot use your Free Trial to support this loan.
Free Trials cannot be used to make loans during their private fundraising period on Kiva. If you would like to lend to this borrower anyway, you will have to use your own money.
Agree Find an Eligible Loan