Olga Nova

Status: Ended with Loss - Defaulted

$475.00		Loan Request
$399.26		Paid Back

About the Entrepreneur

Name:	Olga Nova
Location:	Santo Domingo, Dominican Republic
Activity:	Food Production/Sales

About the Loan

Loan Amount:	$475.00
Loan Use:	To invest in raw materials to keep producing fried dishes.
Repayment Term:	8 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Jun 7, 2008
Date Disbursed:	Jun 22, 2008
Date Funded:	Jun 8, 2008

About the Field Partner

Field Partner:

Fundación San Miguel Arcángel, Inc. (FSMA)

Field Partner Risk Rating:

(Learn more)

Closed

29 months

2017

$593,750

N/A - No Paying Back Loans

Default Rate:

27.80%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Dominican Republic
Avg Annual Income:	$7,611.00
Currency:	Dominican Republic Pesos (DOP)
Exchange Rate:	34.0235 DOP = 1 USD

Olga, a forty-seven-year-old woman and mother of four children, has been selling fried dishes and natural juices for six years in her hometown, the Barrios community of Santo Domingo. She sells her goods in the public school of the community. Olga explains that the two last loans she got from our organization had helped her to sustain her family and support her children’s studies.

Currently, Olga plans on buying a small house in a couple of years so that her family can live comfortably.

With her loan, the entrepreneur will buy raw materials to keep producing her delectable fried dishes and her juices.

Lenders to this entrepreneur

Karen
Wayne, NJ
United States

Bruce
Sparks, NV
United States

Barb and Quentin
Ottawa, IL
United States

Christopher Shirk
California
United States

Dinah
San Francisco, CA
United States

Debra
Vancouver, WA
United States

Debjani
Vancouver, WA
United States

Anonymous
evanston, IL
United States

Cliff
Glen Allen, VA
United States

Jeff
Houston, TX
United States

Joan R.

David
Villa Rica, GA
United States

Balint Family
Harrisonburg, VA
United States

Paul
Edmonton, Alberta
Canada

WHBC
Tonganoxie, KS
United States

Journal entries for Olga Nova

Loan has been disbursed Entrepreneur: Olga Nova Location: Santo Domingo, Dominican Republic Thank you for your loan. It has been disbursed to Olga Nova 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 Santo Domingo, Dominican Republic Jun 22, 2008
Comment on this entry

Update on your loan in the Dominican Republic Entrepreneur: Olga Nova Location: Santo Domingo, Dominican Republic Your loan to the business or businesses above will not be repaid in full and is now considered defaulted. To learn about the reasons for this default, please visit FSMA’s Field Partner page. We have done our best to provide comprehensive details about why your loan defaulted and what Kiva is doing to help prevent situations like this from happening in the future. A vast majority of our Field Partners are healthy organizations that are very capable of administering your loans with the highest integrity. If you have any questions, after visiting FSMA’s Field Partner page and reviewing the information there, please let us know.
Posted by Michelle May Kreger, Kiva Staff, from San Francisco, United States Aug 21, 2009
Comments (58)

Repayment Schedule for Olga Nova

Show Advanced

	Expected Repayments	Actual Repayments	Comments
September 2008	$79.17	$80.00	Repayment Received
October 2008	$79.17	$80.00	Repayment Received
November 2008	$79.17	$80.00	Repayment Received
December 2008	$79.17	$77.00	Repayment Received
January 2009	$79.17	$78.83	Repayment Received
February 2009	$79.15	$0.00	Delinquent
December 2009	$0.00	$3.43