Aracelys Pantaleon De La Cruz's Group


Status: Paid Back

$1,300.00   Loan Request
$1,300.00   Paid Back

About the Group

Group Name: Aracelys Pantaleon De La Cruz's Group
Group Members: Regina Torres Fabian
Santa De La Cruz
Juliana Andrés
Gloria Lando Santana
Aracelys Pantaleon De La Cruz
Location: La Gallera, Community Of Santo Domingo, Dominican Republic
Activity: Cafe

About the Loan

Loan Amount: $1,300.00
Loan Use: To start over a small cafeteria.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Apr 28, 2008
Date Disbursed: May 16, 2008
Date Funded:May 2, 2008
Loan Ended:Dec 15, 2008

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:33.9460 DOP = 1 USD



Aracelys is a thirty-year old mother of two children who is fighting tooth and nail to make a living and improve her family’s living conditions. Her husband lives outside the country and sends her money occasionally. Aracelys is an experienced businesswoman. She used to run a cafeteria in the past, but she had to leave that activity for a while as it was hard to have access to capital in order to keep operating the cafeteria. She says it was like fighting a losing battle.


Now, the entrepreneur wants to start over, but seriously. Together with four other women, she’ll take a loan which she’ll invest in the purchase of a variety of materials in order to operate the cafeteria. Aracelys had already rented a small locale where the café will be operated. She hopes that this new beginning will help her support her children's educations and to change her family’s life.


The others members of the group are:
Gloria Lando Santana, a women’s clothing retailer;
Juliana Andrés, to buy clothing in bulk to retail;
Santa De La Cruz, for a small café;
Regina Torres Fabian, to sell materials for a beauty parlor.


Photo: from left to right: Aracelys, Gloria, Juliana, Santa y Regina.



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 Aracelys Pantaleon De La Cruz's Group


Loan has been disbursed
 
Entrepreneur: Aracelys Pantaleon De La Cruz's Group
Location: La Gallera, Community Of Santo Domingo, Dominican Republic

Thank you for your loan. It has been disbursed to the group, consisting of Aracelys Pantaleon De La Cruz, Gloria Lando Santana, Juliana Andrés, Santa De La Cruz, Regina Torres Fabian by Fundación San Miguel Arcángel, Inc. in Dominican Republic. We are excited to watch this business grow. Over the next 6 months, Fundación San Miguel Arcángel, Inc. will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from La Gallera, Community Of Santo Domingo, Dominican Republic
May 17, 2008
Comments (2)

Kiva Help Repayment Schedule for Aracelys Pantaleon De La Cruz's Group

  Expected Repayments Actual Repayments Comments
August 2008 $216.67 $217.00 Repayment Received
September 2008 $216.67 $217.00 Repayment Received
October 2008 $216.67 $217.00 Repayment Received
November 2008 $216.67 $217.00 Repayment Received
December 2008 $216.67 $217.00 Repayment Received
January 2009 $216.65 $215.00 Repayment Received