Maria Raquel Ruiz

Status: Paid Back

$350.00		Loan Request
$350.00		Paid Back

About the Entrepreneur

Name:	Maria Raquel Ruiz
Location:	Managua, Nicaragua
Activity:	Used Clothing

About the Loan

Loan Amount:	$350.00
Loan Use:	To purchase packages of used clothing
Repayment Term:	11 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Jun 2, 2008
Date Disbursed:	Jun 17, 2008
Date Funded:	Jun 3, 2008
Loan Ended:	Apr 15, 2009

About the Field Partner

Field Partner:

AFODENIC

Field Partner Risk Rating:

(Learn more)

Active

23 months

2917

$1,664,275

0.03%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Nicaragua
Avg Annual Income:	$3,636.00
Currency:	Nicaragua Cordobas (NIO)
Exchange Rate:	19.1800 NIO = 1 USD

Maria Raquel is a young single mother who has a young son. She lives in the Hialeah neighborhood in Managua She has made a living by selling used clothing and cosmetics for 5 years. She is always working to diversify the variety of clothing that she offers.

She needs this loan to buy packages of used clothing to keep increasing her sales. Her previous credits have also helped her to invest in her business and to get ahead, giving her the necessary means to support her small son. Because she is a single mother, her situation is more difficult, but she has been able to advance and grow economically.

Translated from Spanish by Tanya Harper, Kiva volunteer

Maria Raquel es una joven madre soltera que tiene un pequeño niño varon, habita en el barrio Hialeah de Managua. Se dedica a la venta de ropa usada y cosméticos, desde hace 5 años y está siempre trabajando para diversificar la variedad de ropa que ofrece.

Requiere del préstamo para comprar pacas de ropa usada para seguir incrementando sus ventas. Los créditos anteriores solicitados le han ayudado también a invertir en su negocio y ha podido salir adelante, dandole el sustento necesario a su pequeño hijo. Por ser joven y madre soltera la situación le es más difícil pero ha podido ir avanzando y creciendo económicamente.

Lenders to this entrepreneur

Michael
Seacliff Park, South Australia
Australia

Mary Lou

Helen
MARSDEN, Queensland
Australia

ned travis American
woodruff, WI
United States

Ross & Claire
Bartlesville, OK
United States

Button
New York, NY
United States

Andrea & Jordan
Victoria, British Columbia
Canada

Peter
Potomac, MD
United States

Tabasio
Berne,
Switzerland

Pedro Lopez
Mataro, Barcelona
Spain

Ann
Mechelen,
Belgium

Journal entries for Maria Raquel Ruiz

Loan has been disbursed Entrepreneur: Maria Raquel Ruiz Location: Managua, Nicaragua Thank you for your loan. It has been disbursed to Maria Raquel Ruiz by AFODENIC in Nicaragua. We are excited to watch this business grow. Over the next 9 months, AFODENIC will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Managua, Nicaragua Jun 17, 2008
Comment on this entry

Loan update from Nicaragua! Entrepreneur: Maria Raquel Ruiz Location: Managua, Nicaragua As you may remember, you helped fund a loan on Kiva to Maria Raquel Ruiz on Kiva in June of last year, to provide resources for her to invest in her business. She has been building a business in which she sells clothes here in the capital of Managua, and takes pride in her sense of fashion in clothes she finds to sell her clients. When we stopped by her home last week to follow up on her Kiva loan, a family member was busy cooking lunch, and kids were in the bedroom watching cartoons until the food was ready. The father of Maria’s son lives in New Jersey and sometimes sends remittances that help support Maria and her child. Since she was able to use some of that money to invest in the business, she ended up using the money from her loan to pay for enough materials to put another bathroom in the house. Maria lives here with a pretty sizeable group of family, 6 adults, two children, and a rottweiler named “Lassie” that has the ability to go from man’s best friend to rip someone’s limb off in under 3 seconds, depending on which side of the gate you are standing. Even though they already had a bathroom at the house, having another with so many people was a priority for everyone there. The loan was only enough for the materials, but Maria’s brothers were able to do the construction work, including tile for the shower and walls. She does feel that her business is doing pretty well, and in the future she is hoping to use another loan for housing improvements to the living areas. Thanks for lending your support to Maria and her son in Nicaragua! To meet Maria and see her new bathroom, check out the video below! Don’t forget you can re-loan your money once it is paid back! To get involved supporting other hopeful borrowers posted by AFODENIC in Nicaragua, click here!
Posted by Brent Zettel from Managua, Nicaragua Apr 4, 2009
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Repayment Schedule for Maria Raquel Ruiz

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	Expected Repayments	Actual Repayments	Comments
September 2008	$38.89	$39.00	Repayment Received
October 2008	$38.89	$39.00	Repayment Received
November 2008	$38.89	$39.00	Repayment Received
December 2008	$38.89	$39.00	Repayment Received
January 2009	$38.89	$38.44	Repayment Received
February 2009	$38.89	$38.89	Repayment Received
March 2009	$38.89	$38.89	Repayment Received
April 2009	$38.89	$38.89	Repayment Received
May 2009	$38.88	$38.89	Repayment Received