Teresa Reyes Contreras


Status: Refunded

$250.00   Loan Request

About the Entrepreneur

Name: Teresa Reyes Contreras
Location: Tampico, Tamaulipas, Mexico
Activity: Used Clothing

About the Loan

Loan Amount: $250.00
Loan Use: TO BUY GOODS
Repayment Term: 6 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jun 1, 2009
Date Disbursed: Apr 22, 2009
Date Funded:Jun 2, 2009
Refund Date:Jun 16, 2009

About the Country

Country:Mexico
Avg Annual Income:$11,249.00
Currency:Mexico Pesos (MXN)
Exchange Rate:13.1678 MXN = 1 USD



Teresa is widowed and has 4 children: Jaime is 34, married and has a grocery store; Maria Concepcion is 31, single and works for a company; Claudia Veronica is 27 and works for a company; and Miguel Angel is 23 and is studying Business Administration. She has helped them all succeed after her husband abandoned them. She began her business of selling used clothing in May of 1994 and it is going very well. Right now she has very little inventory and she would like to buy more to continue with her sales. We [Admic Nacional] support Teresa’s case—she is a mother and entrepreneur who has helped her family get ahead while at the same time maintaining her home and her business.

Translated from Spanish by Rachel Crouch, Kiva Volunteer


LA SEÑORA TERESA ES VIUDA Y TIENE 4 HIJOS Jaime de 34 años, casado y tiene una tienda de abarrotes, María Concepción de 31 años, soltera, empleada, Claudia Verónica de 27 años empleada y Miguel Ángel de 23 años estudia Administración de Empresas.
Los cuales ha sacado adelante, desde que su ex esposo lo abandono.

Comenzo el negocio en mayo de 1994, se dedica a la venta de ropa usada y le ha ido muy bien.

Ya cuenta con muy poca mercancia, y quiere comprar mas para poder seguir con las ventas.

Apoyemos este caso de esta mujer, madre y emprendedora que ha sacado adelante a su familia, atendiendo el hogar y manteniendo el negocio.

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Journal entries for Teresa Reyes Contreras


Loan has been disbursed
 
Entrepreneur: Teresa Reyes Contreras
Location: Tampico, Tamaulipas, Mexico

Thank you for your loan. It has been disbursed to TERESA REYES CONTRERAS by Admic Nacional in Mexico. We are excited to watch this business grow. Over the 3 months of this loan, Admic Nacional will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Tampico, Tamaulipas, Mexico
Jun 3, 2009
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Loan Refunded
 
Entrepreneur: Teresa Reyes Contreras
Location: Tampico, Tamaulipas, Mexico

This loan has been refunded for the following reason:

Your loan has been refunded, because Kiva recently paused its partnership with our Field Partner who manages this loan on the ground.

During routine partner monitoring at our Field Partner, Admic, Kiva became aware of difficulties Admic is having, mostly as a result of the current economic downturn. Admic is suffering from this recession due to higher client delinquencies, a strong devaluation of the Mexican peso, among other factors. Admic’s current situation is making it difficult for the institution to pay back its loans to Kiva on-time. We are working with Admic to obtain additional information on their situation so that we may develop a payment plan for Kiva lenders to be repaid. Kiva has paused Admic on the website, meaning they can no longer raise funds on Kiva, and we have reduced their star rating to 1 star. In the coming weeks, Kiva will continue to work closely with Admic and provide additional updates as appropriate on Admic's Field Partner Page.


Posted by Giovanna Masci, Kiva Staff, from San Francisco, United States
Jun 16, 2009
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Kiva Help Repayment Schedule for Teresa Reyes Contreras

  Expected Repayments Actual Repayments Comments
August 2009 $125.00 $0.00  
September 2009 $93.75 $0.00  
October 2009 $31.25 $0.00