Lucia Gonzalez Marte's Group


Status: Ended with Loss - Defaulted

$1,575.00   Loan Request
$319.29   Paid Back

About the Group

Group Name: Lucia Gonzalez Marte's Group
Group Members: Fiordaliza Moreno Cleto
Jacqueline Leonardo Muñoz
Carmen Nicasio Lazala
Agustina Gonzales Figueroa
Lucia Gonzalez Marte
Location: Cotuí, Dominican Republic
Activity: Clothing Sales

About the Loan

Loan Amount: $1,575.00
Loan Use: To buy garments wholesale and move her small business forward.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Sep 20, 2008
Date Disbursed: Oct 4, 2008
Date Funded:Sep 20, 2008

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.1830 DOP = 1 USD



Lucia is the leader of this group of women who say there's no place in their life for negativity, and who believe they can make positive changes in their community in spite of their harsh living conditions. Lucia's husband works for a construction company, and he can hardly support the family's needs with his low wages. To face this situation and supplement her family's income, Lucia started eight months ago a small business of selling women's clothing in her community.



The lack of access to capital has been a limitation for the new entrepreneur to make a go of her business. Currently, the entrepreneur is requesting a loan purchase more clothing to add to her inventory. She also explains that she'd like to start selling a new collection of shoes which are in high demand in the community. Buying the goods wholesale will help Lucia to reduce her frequent trips outside her community to get the garments. Lucia thanks in advance the Kiva lenders for their openhandedness, and she hopes she'll get this loan before long, so that she can move her business forward.



The members of Lucia's group are:


Agustina Gonzales Figueroa, a small clothing retailer


Carmen Nicasio Lazala, who retails pants and shoes in the community


Jacqueline Leonardo Muñoz, who sells exclusively shoes in the neighborhood


Fiordaliza Moreno Cleto, to invest in the purchase of women's clothing


Photo shows from left to right: Lucia, Agustina, Carmen, Jacqueline and Fiordaliza.



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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Lenders to this group

Good Dogg
Front Porch, www.kivafriends.org
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Rama
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Michael
Kaarst,
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Susan
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mariette
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Michelle
Santa Clara, CA
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Katy and Jeff
Albany, CA
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Val & Derek
Thornton, Colorado
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Mimi
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Jonathan
Bloomington, IN
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Gary
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Peter
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Erik
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Lynn
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Mr. Schipper's Class
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Gordon
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KenW
Adelaide, SA
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Barbara
Boulder, CO
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Anonymous
New York, NY
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Dotti & Bill
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Paul & Traci
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Sudhir Sagi
Farmington, MI
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Gail
Decatur, GA
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Anonymous
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Gidget
Chicago, IL
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Sandeep
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Pakalulu
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Kelly
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Elizabeth
Arlington, VA
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Vermonter
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Karen
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Nick and Jen
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Jonas
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Vicky
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The Boulding Family
Barrie, Ontario
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PMP
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Anonymous
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Chris
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Shaun
Escanaba, MI
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Anne Marie Segal
Stamford, CT
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Cesar
Alpharetta, GA
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Angie and Abby
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Andrew
Brookfield, WI
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P & D
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Jon
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neddotcom
worldwide, OR
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John
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Sally
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Journal entries for Lucia Gonzalez Marte's Group


Loan has been disbursed
 
Entrepreneur: Lucia Gonzalez Marte's Group
Location: Cotuí, Dominican Republic

Thank you for your loan. It has been disbursed to the Lucia Gonzalez Marte group, consisting of Lucia Gonzalez Marte, Agustina Gonzales Figueroa, Carmen Nicasio Lazala, Jacqueline Leonardo Muñoz, Fiordaliza Moreno Cleto by Fundación San Miguel Arcángel, Inc. (FSMA) in Dominican Republic. We are excited to watch this business grow. Over the next 6 months, Fundación San Miguel Arcángel, Inc. (FSMA) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Cotuí, Dominican Republic
Oct 4, 2008
Comment on this entry

Update on your loan in the Dominican Republic
 
Entrepreneur: Lucia Gonzalez Marte's Group
Location: Cotuí, 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)

Kiva Help Repayment Schedule for Lucia Gonzalez Marte's Group

  Expected Repayments Actual Repayments Comments
January 2009 $262.50 $262.50 Repayment Received
February 2009 $262.50 $0.00 Delinquent
March 2009 $262.50 $0.00 Delinquent
April 2009 $262.50 $0.00 Delinquent
May 2009 $262.50 $0.00 Delinquent
June 2009 $262.50 $0.00 Delinquent
December 2009 $0.00 $56.79