Embajadores 1 Group


Status: Paying Back

$900.00   Loan Amount
39% repaid

About the Group

(For privacy reasons, the Field Partner has requested that last names be undisclosed)
Group Name: Embajadores 1 Group
Group Members: Juan
Odania
Maria
Margarita
Ana
Location: La Romana, Dominican Republic
Activity: Fruits & Vegetables

About the Loan

Loan Amount: $900.00
Loan Use: To purchase fruit in bulk to sell
Repayment Term: 7 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Possible
Date Listed: Sep 11, 2009
Date Disbursed: Aug 12, 2009
Date Funded:Sep 17, 2009

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:36.0500 DOP = 1 USD



Juan is the group coordinator of the group Embajadores (Embassadors) which is based in the rural areas surrounding La Romana, an area where electricity and running water (none of which is potable) is unreliable at best. Here Juan makes his home in a small structure of wooden walls and a tin roof with a cement and dirt floor. Juan lives with his wife and two adult sons.

Juan has come to Esperanza to take out his first loan with the goal of improving his business selling fruit out of a small store which he rents. This business is his family's primary source of income and with this loan he will purchase avocados, mangoes, melons, bananas, papayas and watermelons in bulk to receive a better price and increase his profit margin.

Juan believes he will be successful as he has over two years experience selling produce in his local community. With his new profits he intends to enroll his son in university. His long term goal is to see his sons succeed and to develop his business to be larger and more successful. He thanks you all for your support.




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 Embajadores 1 Group


Loan has been disbursed
 
Entrepreneur: Embajadores 1 Group
Location: La Romana, Dominican Republic

Thank you for your loan. It has been disbursed to Embajadores 1 Group, consisting of Juan, Odania, Maria, Margarita , Ana by Esperanza International Dominican Republic, 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 Dominican Republic, a partner of HOPE International will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from La Romana, Dominican Republic
Sep 18, 2009
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Kiva Help Repayment Schedule for Embajadores 1 Group

  Expected Repayments Actual Repayments Comments
November 2009 $206.71 $206.71 Repayment Received
December 2009 $144.30 $144.30 Repayment Received
January 2010 $149.70 Available Jan 1  
February 2010 $235.15 Available Feb 1  
March 2010 $164.14 Available Mar 1