November 10, 2014  |  Entrepreneurship Northern CaliforniaUpTogether Fund

To Grow His Business, Eduardo Crowdfunds Kiva Zip Loan

Eduardo Michaus works as a mechanic at a body shop in San Francisco. After business hours, his boss allows him use the facility to work on cars for his own clients. He is also taking a big step towards his dream of running his own body shop: he has launched a crowd-funding campaign through Kiva Zip.

Kiva Zip allows individuals to loan funds directly to entrepreneurs. FII families with entrepreneurial aspirations use this platform to crowd-source small loans among friends, family, and potential new supporters within the Kiva Zip online community.

“I grew up in the countryside of a small Mexican town called Taluca, Calimaya,” Eduardo says on his fundraising page. “I started working construction with my uncle when I was only 8 years old. When I turned 9 years old, I transferred into working for a mechanic. I’ve been [a mechanic] ever since.”

As he works to grow his business, Eduardo is asking supporters to endorse his Kiva Zip loan to purchase paint guns that will allow him to do exterior paint jobs on cars. “Each paint gun has a specific purpose and each are needed to finish the paint job accurately,” he explains. He plans on investing in two or three such guns now, and buy additional ones with the income generated by his expanded work.

In addition to this small business, Eduardo and his wife, Maria Hernandez Camacho, are part of an FII cohort in San Francisco that is focused on healthy eating, as well as making childcare and housing more affordable.

After his Kiva Zip experience, Eduardo will be an important resource for other Spanish-speaking FII families who may want to apply for a Kiva Zip loan in the future. He is the first Spanish-speaking FII member to take advantage of this opportunity.

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