Originally from Zambia, at 11 years old I moved to the states with my family. The transition was tough and l never did well in the American school system. I knew I wanted to start my own business, as college was not an option, and working for someone else was not for me long-term. My motivation was the desire to build something myself and create my own lifestyle, but I had no idea how to make it happen. I worked at Starbucks in high school and continued until the birth of my daughter in 2014 when I moved from Virginia to Houston, TX following my girlfriend’s new career. We married and I became a stay-at-home dad until I became a permanent U.S. resident. I worked to support my family but the desire to build a business continued to grow.
In 2017, we moved to Waco, TX, and decided to open a coffee shop as I had coffee experience and our growing family could be part of it, which was important to us. In 2018, I opened a mobile coffee cart and named it Third Space Theory Coffee, or Thrst Coffee for short. The idea was a “third space” for community, coffee, and conversation. I served hand-crafted pour-overs inside an art gallery downtown and at the local farmers market. In 2020, I began roasting coffee. Once Covid hit I pivoted to keep the business afloat and focused my efforts on selling coffee online. I increased digital marketing and launched coffee subscriptions, shipping beans to customers throughout the country and delivering locally. The goal was always a brick-and-mortar coffee shop and in January 2023 the dream became a reality. I am grateful to be living my dream as a family-owned coffee shop despite the challenges.
Adding to basket
Funded
A loan helped a black-owned coffee shop buy inventory & equipment to sustain growth.
Andreas's story
This loan is special because:
More about this loan
Business Description
Thrst Coffee is a coffee shop in Waco, TX. We roast our own coffee beans in-house and sell fresh espresso drinks, teas, and pastries. We strive for consistency by focusing on crafting traditional espresso drinks. We use quality ingredients sourced as locally as possible, using a local distributor for our coffee beans, making and locally sourcing our own natural syrups, and buying our tea and pastries from local businesses. We operate out of a physical location but also have an online website where we sell our coffee beans retail, wholesale, and subscription-based.
I started Third Space Theory Coffee, Thrst Coffee for short, in 2019 to support my family and contribute to the community. The name comes from the sociological theory that humans crave a third place separate from home and work where they can be with their community. I saw a need in Waco for more third spaces where minorities in particular would feel represented and I believed Thrst could do that.
From starting out as a mobile coffee cart in downtown Waco to roasting coffee and selling completely online during COVID, to now having a physical coffee shop, it has been a four-year journey that I could have never predicted. I had to pivot multiple times to keep the business alive and put my dream of a physical location on hold longer than planned, but I never compromised my vision for Thrst even when opportunities came along that seemed to be a quick fix to my present challenges.
Today Thrst Coffee is the only black-owned coffee shop in the city of Waco and in just 3 months of being opened, I see my vision brought to life. It is a place where people come for coffee but return for the experience they received.
What is the purpose of this loan?
There are five main areas in which the funds would be used. The first would be to get caught up on operating expenses that are currently being paid late. The second would be to purchase inventory (mostly coffee beans) in bulk which would reduce the cost and allow me to take on larger wholesale accounts such as restaurants and hotels, as I would have the inventory needed for a timely turnaround time, as well as have bags of coffee stocked for sale in my shop. The third area would be to make improvements to my coffee shop which would increase income and usability. This includes renovating the backroom of the shop into a private rentable space and adding outdoor seating to accommodate families with small children and pets. The fourth area would be to purchase the inventory required to launch our line of hand-crafted mocktails. Expanding the menu beyond coffee would better accommodate our evening events and make renting the space in the evening more appealing. We are not able to have an alcohol license at that property but after much research mocktail bars are on the rise as there is an unmet need for them and we would be the very first in our city. Lastly, we have outgrown our current coffee roaster that roasts one pound at a time so funds would be used to rent time using a larger local roaster. This would significantly reduce my personal time spent roasting and producing a much larger inventory allowing for more time selling and less making the product.
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 Thrst Coffee
Lenders and lending teams
Country: United States
Trustee: Startup Waco
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Andreas?
We are extremely excited to endorse Andreas and Third Space Theory Coffee. We have worked with them since the beginning and it has been truly inspirational to see their journey and how they've impacted the community. As we continue to work together, we know a Kiva loan will help grow this amazing company by allowing them to expand their business and continue to enhance the community.
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: Startup Waco
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Andreas?
We are extremely excited to endorse Andreas and Third Space Theory Coffee. We have worked with them since the beginning and it has been truly inspirational to see their journey and how they've impacted the community. As we continue to work together, we know a Kiva loan will help grow this amazing company by allowing them to expand their business and continue to enhance the community.
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