My name is Angel, I am from Nogales, Sonora and now I live in Tucson, AZ following my 4 children.
My father was an entrepreneur who started from scratch working in a brewery delivering beer to the liquor stores, until he managed to have 14 liquor stores and became the number 1 beer seller in the city for a period of 10 years. He was such an inspiration for me, since I was 10 years old I help him on his rounds and by 15 he let me run my own business. While in college, I worked in the mornings and studied from 5 to 10 at night, business grew and I had more scope of action. When I graduated we started a real state business but in 1995 when Mexico had its last great economic crisis everything collapsed, everything was lost, the whole group of companies of my family went bankrupt.
After 9 years of working with my family I had to take an opportunity outside of Nogales and I took an opportunity to work for the Government in Mexicali for 4 years. When that job was finished I returned to Nogales, started my family and took on opportunities to work in large companies growing in leadership positions. In total I worked 20 years in these companies where I earned well and learned a lot but I always had the thorn of having my own business, not working for anyone and translating my ideas into my own business. I resigned in the summer of 2022 and decided to move to Tucson to be closer to my children and the plan to start my own business.
I have the dream of owning a restaurant here in Tucson in five years, I believe I have a clear vision and a new taste to offer to Tucson and Arizona. Arriving to the city after 3 months I started my catering business, I have been working it for 9 months and I realized the potential of selling my food, especially the authentic recipes that I bring from my family.
I always liked to cook, since I was a kid, I cooked breakfast for my brothers, and even at all family events I cook, they ask me what I will do for the occasion, the same for social events, my friends ask me what we will eat and they always leave very satisfied with what I feed them because of my personal seasoning in my dishes. I love cooking, I love to eat and cook, see different recipes, go to restaurants, and evaluate the quality, service, facilities, etc. I travel a lot and my passion is to go to experience restaurants, from the day I leave on my trip I already bring the itinerary of the restaurants of the place I will visit and the agenda.
My catering business has been well accepted, this type of business is a referral business, if they like your food people will comment and come back.
I have important companies that in the 9 months I have served 6 times, 3 times, and some twice which gives me confidence that my recipes have been liked.
Now I see potential in selling my Mexican antojitos to the general public in different locations and events in the city and then the third step will be to open my Restaurant.
Adding to basket
Funded
A loan helped a passionate chef grow his family-recipe catering business and open a food truck.
Angel's story
This loan is special because:
More about this loan
Business Description
I started this business because it has always been my dream, after working for more than 20 years in offices and traveling I really needed to do something that I am passionate about and that motivates me every day that I wake up. What I like the most is COOKING. When I moved to Tucson I started to plan.
First, start with Catering to get to know my seasoning, my recipes, my food, my BRAND. Second, ( currently) opening a Food Truck to expand my clientele throughout the city, so that more people will get to know my style and particular taste. Third, open to a RESTAURANT. Starting my catering business has been very interesting because I have expanded my network due to the business relationships of my daughters, and talented entrepreneurs who make me very proud.
My whole family has supported and encouraged me to start the business last year. I am a family man, and I am always thinking about what to make breakfast for my children and making sure that they like it very much. I like people to tell me how tasty I cook, so I bundled my ideas and started the plan from scratch. I elaborated the menu based on my favorite food, and calculated prices according to the market here in the area that I myself sampled. I personally checked suppliers, and did research to purchase equipment. I also started my marketing by myself on Instagram and to date I do it alone (my daughters have guided me). I researched got licensing and commercial kitchen permits. Also, I took some business classes and in April 2023 I started, in May I had my first sell. I love doing the work, I sell, I quote, I buy the necessary material for what I was ordered, I cook everything, I go and serve or deliver, I collect and wash the dishes and equipment and put it back in storage.
This year I want to open a food truck, I see great potential for it and combine it with catering. Currently, when I don’t have events, I am an Uber driver, I talk to customers and see how much people love Mexican food, I have been hired by my UBER customers to serve them at events. I have seen 3 very interesting areas where I know that what I will sell food to the general public will be well-liked. The advantage that I also see with this business is that for big events, important events in the city I can move to participate, there are many events in Tucson in which I have witnessed the opportunity for food trucks. The same in the catering business, I will be able to offer the delivery service, serve at events, or bring the Food Truck.
To start I prefer to rent a truck made just for me with my branding. I will stop working at UBER and concentrate on this business, I have plans to hire 2 or 3 people. I have all the confidence that my dreams are on their way, now I will work hard to open my food truck and then I will work for my great dream of opening my restaurant ''2 MARIAS'' named after my two daughters.
Learn more on Instagram: @senortacocatering
What is the purpose of this loan?
I need the money to rent the food truck include Rent & two months of deposit, buy insurance, process licenses, buy the equipment needed to operate, hire people and do marketing.
Specifically, the Kiva loan funds will be allocated as follows: - Rent a Food Truck ( first and last mont deposit + first month of rent) (about 27% of loan funds) - Process licenses ( city, health ) - Buy equipment ( generator and more) (about 33% of loan funds) - Marketing - Hiring employees (about 17% of loan funds)
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 SENOR TACO CATERING, LLC
Lenders and lending teams
Country: United States
Trustee: Growth Partners Arizona
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Angel?
We are honored to endorse Angel on his upcoming Kiva campaign. Angle is a passionate entrepreneur who is looking to rent a food truck to support his growing business. Let's work together to help Angel achieve his goal and grow his business.
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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: Growth Partners Arizona
What are Trustee tiers?
For for more information about Trustee tiers, visit: kivaushub.org/trustee-tiers
Why are you endorsing Angel?
We are honored to endorse Angel on his upcoming Kiva campaign. Angle is a passionate entrepreneur who is looking to rent a food truck to support his growing business. Let's work together to help Angel achieve his goal and grow his business.
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