Hi, my name is Mariano and I am the owner of Hunger & Action fitness gym in Springdale, Arkansas. I was born in California but was raised here after my parents relocated in my youth. Although I came from living in a trailer park in the City of Compton being raised by two immigrant parents, I learned to respect, love for others, and humility, and strong faith in God. I have experienced violence, gangs, and criminal activity. I have many friends who experienced the same from where they moved. Thankfully, here we got involved in the world of boxing and a great man named Robert coached us and instilled discipline, hard work, overall genuine kindness when he self-built a backyard boxing gym for us. I graduated from a local alternative school, became a father at a young age, and then began striving for a better future for my child and her mother. I realized how boxing had helped me to not only graduate high school but have the confidence to now attend business classes at the University of Arkansas and open my own gym. I give back to my community youth by providing a place for Hispanic and Latinx persons to come together in a positive and healthy place, and we were voted “Best Number 1 Gym in Northwest Arkansas” recently. The gym was a perfect platform for me and my friends to help the youth struggling like we were helped and to help anyone with personal health goals be surrounded by positivity by turning their “Hunger” into “Action”. In our two years of being open, I can say we have impacted many lives for the better with our program outreach to the area Juvenile Detention Facility, our amateur boxing classes, and our adult HIIT classes.
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A loan helped this Hispanic business owner expand his gym.
Mariano's story
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More about this loan
Business Description
Our Hunger & Action gym philosophy for improvement is based on boxing and general fitness fun. Hunger & Action Gym is open from 5 am until midnight. Our members have key fob access to the facility so people from every lifestyle can work on goals during hours best for them. We offer classes for all ages from elementary school ages to adults and senior citizens. Northwest Arkansas is now over 500,000 people and growing, so I see the potential for my business. Our membership was growing each month before the pandemic hit, and now in 2021 is finally starting to grow each month again. Our morning/day HIIT Boxing/Fitness classes are for an intense shorter exercise session. Our evening classes are more focused on the youth and offer a variety of fitness activities like punching bag work, jump roping, running, footwork drills. We also have a class that is just a “Stay Active” general one for kids that the parents just want to be involved in getting their exercise for the day but also builds other good habits, like hard work and discipline by just coming to the gym to lift weights and get advice on nutrition and try classes. We offer an amateur competitive boxing class and provide amateur competition events around Arkansas and hopefully soon to more states. We have been working with The Washington Juvenile Detention Center where its staff brings kids here to be involved in positive activities, proactively exposing them to things that they might have not been able to be a part of there. This program is resuming in May of 2021 and we need more equipment to build it up even better for the youth.
What is the purpose of this loan?
Before the pandemic hit, our business was increasing each month, and we always planned on expanding for the benefit of our members but then it slowed for a few months. Since March 1 many members are back and more joining. We also plan on having more youth programs in the summer of 2021. We have been running into issues with not enough equipment for our members during the current classes. Our plan is to purchase big enough kettlebell sets, medicine ball sets, floor mats, a variety of boxing equipment, punching bags, and racks to hang them on to properly serve all who come to Hunger & Action. We could also use funds to help market the gym better to the public, and hire some help for a big boxing event we have planned in June.
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 Hunger & Action
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 Mariano?
Startup Junkie Foundation Executive Business Consultant Martha has met with Mariano multiple times to discuss his business' history, progress, success, and future management. Martha and the Kiva NWA Hub program associate Alvin have both travelled to the business gym. It is located in an excellent location, it is well kept and attractive, active with customers, has great parking and is a recent NWA Best Fitness Gym award winner by an annual well-respected, regional local magazine. Mariano is a very intelligent, organized, and competent business owner. He is well connected to the Hispanic business community in Springdale, a thriving such entrepreneur ecosystem in Northwest Arkansas. Further, he is a business student majoring in Finance at the University of Arkansas Sam M. Walton College of Business, an excellent business school. Martha and Mariano have discussed his classes there, excellent professors of entrepreneurship and their classes to take there to help with his business in the future, and Mariano is very receptive to growing his business with the Walton College opportunities offered to him as well as gaining his degree. Martha is impressed by his business plan, the progress of the business through the COVID crisis and its continued growth in memberships, and his commitment to being a respected business man in his community. This gym fills a great need in Springdale, and Mariano's work with area disadvantaged youth, as outlined in his profile paragraphs, is impressive. He is also working with Alvin and Martha to grow his marketing skills for the future of the business. Startup Junkie Foundation highly recommends this borrower.
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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 Mariano?
Startup Junkie Foundation Executive Business Consultant Martha has met with Mariano multiple times to discuss his business' history, progress, success, and future management. Martha and the Kiva NWA Hub program associate Alvin have both travelled to the business gym. It is located in an excellent location, it is well kept and attractive, active with customers, has great parking and is a recent NWA Best Fitness Gym award winner by an annual well-respected, regional local magazine. Mariano is a very intelligent, organized, and competent business owner. He is well connected to the Hispanic business community in Springdale, a thriving such entrepreneur ecosystem in Northwest Arkansas. Further, he is a business student majoring in Finance at the University of Arkansas Sam M. Walton College of Business, an excellent business school. Martha and Mariano have discussed his classes there, excellent professors of entrepreneurship and their classes to take there to help with his business in the future, and Mariano is very receptive to growing his business with the Walton College opportunities offered to him as well as gaining his degree. Martha is impressed by his business plan, the progress of the business through the COVID crisis and its continued growth in memberships, and his commitment to being a respected business man in his community. This gym fills a great need in Springdale, and Mariano's work with area disadvantaged youth, as outlined in his profile paragraphs, is impressive. He is also working with Alvin and Martha to grow his marketing skills for the future of the business. Startup Junkie Foundation highly recommends this borrower.
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