Villa Asencion 1, 4, 5 Group


Status: Paying Back

$3,150.00   Loan Amount
77% repaid

About the Group

Group Name: Villa Asencion 1, 4, 5 Group
Group Members: Marie Blaise
Lyvie Francois
Lise Francsque
Enrriquez Epor
Joselenne Montero
Anita Mareus
Michelina Sentil
Malena Dosevil
Yanily Bernardo
Luficio Olac
Chelia Almontes
Cesilian Saintilma
Linda Desir
Lidia Martinez
Jeanina Prevaud
Location: Puerto Plata, Dominican Republic
Activity: Retail

About the Loan

Loan Amount: $3,150.00
Loan Use: To buy materials to make purses and bags.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jul 1, 2009
Date Disbursed: May 28, 2009
Date Funded:Jul 15, 2009

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.9500 DOP = 1 USD



Villa Asencion is a community located between Puerto Plata and Sosua in the Dominican Republic. This community is a mission project that was constructed by American missionaries in an attempt to improve the lives of Haitian immigrants living in the Dominican Republic. Tragically, there have been several outbursts of racial violence in the community.



The sturdy concrete houses in the community were built exclusively for the Haitian immigrants and given to them for free. Some local Dominicans have taken this as discrimination, and have responded by breaking into Haitian homes and stealing their things, often times materials used for their businesses. Many Haitians have fled the community for fear of being robbed. Consequently, the local entrepreneurs have had a difficult time starting successful business ventures within the community.



Marie Blaise one of three group leaders in the Villa Asencion loan group. She has started a business making purses and messenger bags. She sews all of her bags herself and sells them to tourists at nearby resorts. Despite the civil unrest, her business has had considerable success. She is on her third micro-loan, and plans to take out more loans in the future. Her husband is a construction worker, which means his work is inconsistent. He usually has to travel to wherever there are construction projects in order to find work. Marie has worked very hard in his absence to be a consistent source of income for her family.





About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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Journal entries for Villa Asencion 1, 4, 5 Group


Loan has been disbursed
 
Entrepreneur: Villa Asencion 1, 4, 5 Group
Location: Puerto Plata, Dominican Republic

Thank you for your loan. It has been disbursed to Villa Asencion 1, 4, 5 Group, consisting of Marie Blaise, Lyvie Francois, Lise Francsque, Enrriquez Epor, Joselenne Montero, Anita Mareus, Michelina Sentil, Malena Dosevil, Yanily Bernardo, Luficio Olac, Chelia Almontes, Cesilian Saintilma, Linda Desir, Lidia Martinez, Jeanina Prevaud by Esperanza International, a partner of HOPE International in Dominican Republic. We are excited to watch this business grow. Over the 5 months of this loan, Esperanza International, a partner of HOPE International will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Puerto Plata, Dominican Republic
Jul 16, 2009
Comments (1)

Kiva Help Repayment Schedule for Villa Asencion 1, 4, 5 Group

  Expected Repayments Actual Repayments Comments
September 2009 $890.95 $890.95 Repayment Received
October 2009 $712.19 $712.19 Repayment Received
November 2009 $496.92 $496.92 Repayment Received
December 2009 $515.38 $340.74  
January 2010 $534.56 Available Jan 1