La Solucion 3 Group


Status: Paying Back

$900.00   Loan Amount
66% repaid

About the Group

Group Name: La Solucion 3 Group
Group Members: Evelyn Regalado
Carida Echevarria
Anny Geronimo de Pen
Elisia King
Ruben Mateo Carrasco
Location: Samana, Dominican Republic
Activity: Home Products Sales

About the Loan

Loan Amount: $900.00
Loan Use: To purchase bedspreads, sheets, soap, and other household items
Repayment Term: 7 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jul 1, 2009
Date Disbursed: Jul 2, 2009
Date Funded:Jul 16, 2009

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.9000 DOP = 1 USD



Evelyn Regalado approached Esperanza a couple of months ago inquiring about how to receive a loan for her business selling bedspreads, sheets, soap, and other household items. After several meetings explaining the loan terms and putting together a group of five women, she is ready to accept her loan in order to invest in and grow her small business. This is a rare opportunity for someone in her economic status, and she reinforced several times how grateful she was and how she couldn’t wait for her business to grow with this new investment.

Evelyn explained that, with new loan, she would be able to increase her merchandise and also be able to explore new markets for her products. She explained she wants to grow her business in order to hopefully provide a better life for her children. She has two boys aged 11 and 3, and she has one daughter aged 15. She speaks very highly of her daughter who is an excellent student who has dreams of attending college and becoming a professional. She explained her boys are typical boys who both love playing baseball.

In the future, Evelyn hopes to expand her business through new loans, and her long term dream is to own real estate that she could rent out. She has ambitious goals, but she knows she has to start small in order to fulfill her long term goals.




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 La Solucion 3 Group


Loan has been disbursed
 
Entrepreneur: La Solucion 3 Group
Location: Samana, Dominican Republic

Thank you for your loan. It has been disbursed to La Solucion 3 Group, consisting of Evelyn Regalado, Carida Echevarria, Anny Geronimo de Pen, Elisia King, Ruben Mateo Carrasco 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 Samana, Dominican Republic
Jul 17, 2009
Comment on this entry

Update on your loan to La Solucion 3 Group
 
Entrepreneur: La Solucion 3 Group
Location: Samana, Dominican Republic

Today, the group of borrowers “La Solucion” had one of its bimonthly repayment meetings.

Evelyn continues her business of selling detergents, bedspreads and other household items. She also started other little businesses like selling wallets. She says that with the money you lent her, she has been able to buy larger quantities of products that she already used to sell. Moreover, she has been buying and selling all kind of products she thought could be useful; and this way, she is getting a knowledge and experience about which products are more in demand in her community. She stores her merchandise in her house and walks down the street to offer them to people. She is glad to see that her business is doing very well and is growing day after day.

This business is vital for her because she says that in Samana, there are very few opportunities to get a job. She adds that she really enjoys doing it because she is meeting a lot of people and making new friends.

She likes to be with the microfinance institution Esperanza, because unlike other banks that give loans for personal use and with high interest rates, Esperanza has lower interest rates and ensures that the loan is used for business activities, and offers ideas and advice to develop business to its members.

In the future, she will take new loans with Esperanza and she expects the amounts to be increasing. The whole group is going well and repaying on time and Evelyn keeps dreaming of owning an apartment one day to rent.

If you want to keep supporting groups like “La Solucion”, please consider making another loan to an entrepreneur of Esperanza: http://partners.kiva.org/app.php?page=businesses&partner_id=44&status=fundRaising&sortBy=New+to+Old

You can also check out and join Esperanza’s lending team : http://partners.kiva.org/team/team_esperanza_dr_and_hati

------------Español------------------

El grupo La solución tuvo hoy una reunión de repago de su préstamo como cada dos semanas.

Evelyn sigue su negocio de venta de detergentes, colchas y otros accesorios del hogar. También empezó otros negocitos cuyo uno es de venta de cartera. Dice que con el préstamo que le hicieron, a parte de comprar mayores cantidades de los productos que ya vendía, se ha puesto a comprar y vender de todo lo que se le presente, y así va aprendiendo que productos tienen mas demanda en su comunidad y se venden mejor. Almacena sus mercancías en su casa, y va por la calle a ofrecerlos a la gente. Se alegra de ver que el negocio le sale muy bien y que va creciendo un día tras otro.

Este negocio le es vital porque dice que en Samana, son muy escasas las oportunidades de conseguir un trabajo. Además, añade que lo hace con gusto y ganas porque por medio de su negocio, va conociendo gente y creando nuevas amistades.

Le gusta estar con la institución de microfinanzas Esperanza, porque al contrario de los bancos que dan prestamos para uso personal y con intereses altos, Esperanza se asegura de que el uso del préstamo sea solo para el negocio, y ofrece ideas y consejos para desarrollar negocios a sus socios.

En el futuro, tomara nuevos préstamos con Esperanza y espera que sean de montos cada vez mayores. Todo el grupo esta yendo bien y repagando a tiempo y Evelyn sigue con su sueño de poder comprar un apartamento un día para alquilarlo.

Si quieren seguir sosteniendo grupos como La solución, pueden hacer otro préstamo a socios de Esperanza haciendo click aquí

http://partners.kiva.org/app.php?page=businesses&partner_id=44&status=fundRaising&sortBy=New+to+Old

Pueden también apuntarse al grupo de prestatarios a la institución Esperanza : http://partners.kiva.org/team/team_esperanza_dr_and_hati


Posted by Thomas Gold from Samana, Dominican Republic
Nov 5, 2009
Comments (1)

Kiva Help Repayment Schedule for La Solucion 3 Group

  Expected Repayments Actual Repayments Comments
September 2009 $149.42 $149.42 Repayment Received
October 2009 $149.66 $149.66 Repayment Received
November 2009 $149.88 $149.88 Repayment Received
December 2009 $150.12 $150.12 Repayment Received
January 2010 $150.34 Available Jan 1  
February 2010 $150.58 Available Feb 1