Lucila Carmela Mercedes

Status: Ended with Loss - Defaulted

$250.00		Loan Request
$50.68		Paid Back

About the Entrepreneur

Name:	Lucila Carmela Mercedes
Location:	San Cristobal, Dominican Republic
Activity:	Food Production/Sales

About the Loan

Loan Amount:	$250.00
Loan Use:	To add selling fruit and vegetables to her present business
Repayment Term:	8 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Sep 24, 2008
Date Disbursed:	Oct 9, 2008
Date Funded:	Sep 25, 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:	35.0540 DOP = 1 USD

Lucila Mercedes is a dynamic and an assiduous businesswoman who tries hard to make a living and keep four kids going on her own. She's been selling 'arepas' (cornmeal rolls) and pie for eleven years to people in her community.

Mercedes would like to increase her revenue, and she's thinking about testing new waters by starting to sell fruit and vegetables so as to offer a larger variety of goods to her clientele.

Lucila hopes this new venture will be worth its weight in gold and will allow her to improve her family's living conditions.

Lenders to this entrepreneur

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Jahanara and Wavy
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Eva
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Top Lending Teams for this entrepreneur

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Journal entries for Lucila Carmela Mercedes

Loan has been disbursed Entrepreneur: Lucila Carmela Mercedes Location: San Cristobal, Dominican Republic Thank you for your loan. It has been disbursed to Lucila Carmela Mercedes 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 San Cristobal, Dominican Republic Oct 9, 2008
Comment on this entry

Update on your loan in the Dominican Republic Entrepreneur: Lucila Carmela Mercedes Location: San Cristobal, 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)

Repayment Schedule for Lucila Carmela Mercedes

Show Advanced

	Expected Repayments	Actual Repayments	Comments
January 2009	$41.67	$41.67	Repayment Received
February 2009	$41.67	$0.00	Delinquent
March 2009	$41.67	$0.00	Delinquent
April 2009	$41.67	$0.00	Delinquent
May 2009	$41.67	$0.00	Delinquent
June 2009	$41.65	$0.00	Delinquent
December 2009	$0.00	$9.01