Estanisla Morel Rodriguez's Group


Status: Ended with Loss - Defaulted

$1,350.00   Loan Request
$273.68   Paid Back

About the Group

Group Name: Estanisla Morel Rodriguez's Group
Group Members: Rudy Hernandez Galvez
Elpidia Hernandez Vidal
Irene Adalgisa Vasquez Luna
Juliana Vasquez
Estanisla Morel Rodriguez
Location: Cotuí, Dominican Republic
Activity: Bakery

About the Loan

Loan Amount: $1,350.00
Loan Use: To buy sweets and cookies to sell in her community.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Sep 19, 2008
Date Disbursed: Oct 3, 2008
Date Funded:Sep 19, 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



Estanisla is a humble woman who struggles to make a living and to take care of her three children. Her husband is a farm worker whose low wages are not enough to meet all the family's needs. Estanisla has been doing her best for years to help her husband in supporting the kids' education, providing food for them and paying the rent of their modest house.
Estanisla humbly explains that her small business of selling confectionery and cookies is very limited, but she hopes that this loan will allow her to add more variety to the goods in her inventory and to increase drastically her revenue. Estanisla's dream is to have a great mini-market with lots of products and millions of customers visiting it and purchasing lots of things in it.
Estanisla hopes that her business will help her children to start their university studies and to become great professionals in life.
Estanisla will receive her loan in common with these entrepreneurs:
Juliana Vasquez, who sells ripe fruits in the community.
Irene Adalgisa Vasquez Luna, to buy beauty products to sell in her neighborhood.
Elpidia Hernandez Vidal, who sells fruits and vegetables.
Rudy Hernandez Galvez who owns and operates a small cafeteria.
Picture shows, from left to right, Estanisla, Juliana, Irene, Elpidia, and Rudy.





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 Estanisla Morel Rodriguez's Group


Loan has been disbursed
 
Entrepreneur: Estanisla Morel Rodriguez's Group
Location: Cotuí, Dominican Republic

Thank you for your loan. It has been disbursed to the Estanisla Morel Rodriguez group, consisting of Estanisla Morel Rodriguez, Juliana Vasquez, Irene Adalgisa Vasquez Luna, Elpidia Hernandez Vidal, Rudy Hernandez Galvez 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: Estanisla Morel Rodriguez'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 (57)

Kiva Help Repayment Schedule for Estanisla Morel Rodriguez's Group

  Expected Repayments Actual Repayments Comments
January 2009 $225.00 $225.00 Repayment Received
February 2009 $225.00 $0.00 Delinquent
March 2009 $225.00 $0.00 Delinquent
April 2009 $225.00 $0.00 Delinquent
May 2009 $225.00 $0.00 Delinquent
June 2009 $225.00 $0.00 Delinquent
December 2009 $0.00 $48.68