Martina Fernandez Paula's Group


Status: Ended with Loss - Defaulted

$1,425.00   Loan Request
$288.88   Paid Back

About the Group

Group Name: Martina Fernandez Paula's Group
Group Members: Maria Antonia Suarez Gonzalez
Maria Estela Fernandez Paula
Luisa Sano Nunez
Georbania Mendoza
Martina Fernandez Paula
Location: Cotuí, Dominican Republic
Activity: Fruits & Vegetables

About the Loan

Loan Amount: $1,425.00
Loan Use: To purchase fruits and vegetables for a small business.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Oct 7, 2008
Date Disbursed: Oct 21, 2008
Date Funded:Oct 7, 2008

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.6555 DOP = 1 USD



Martina, coordinator of this group, is an excellent entrepreneur who operates a "ventorrillo" (fruit and vegetable stand). Martina recently started her business with the aim of helping her husband to support their children's education. She has three children from her previous marriage, but she has no children with her present husband. This entrepreneur explains that she has to fight very hard to take care of the kids, but she hopes that this loan will allow her to move her ventorrillo forward so that she can boost her earnings and improve her family's living conditions.

The members of Martina's group are:
Maria Estela Fernandez Paula, who sells fruits and vegetables;
Georbania Mendoza, a clothing retailer;
Maria Antonia Suarez Gonzalez, who sells pants and shoes; and
Luisa Sano Nunez, a small ventorillo's owner.
The picture shows from left to right: Martina, Maria Estela, Georbania, Maria Antonia and Luisa.



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

Anonymous
Walnut Creek, CA
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Michael
Heerhugowaard,
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James
Dallas, TX
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Ann
kivafriends.org Eastport, Maine
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Jerry
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Amie and Jared
West Jordan, UT
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Claire & Stephen
Ottawa, Ontario
Canada

Kathy
Woodside, CA
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Jeanie
Alhambra, Alberta
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Ingrid
Arendal,
Norway

Denise
Staten Island, NY
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Maureen
New York, NY
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Anonymous
Plymouth, MN
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Anonymous
Buenos Aires,
Argentina

Anonymous
Olga, WA
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Daniel
Burien, WA
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Kimberly
Chicago, IL
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Ronald
Blue Springs, MO
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Steve
Vista, CA
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Peter
Tulsa, OK
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NYA Kiva Club
Yarmouth, ME
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Anonymous
Socorro, NM
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Dona
Cuyahoga Falls, OH
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Steve
Sacramento, CA
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allan
Washington, PA
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Dave
Manchester, Greater Manchester
United Kingdom

John
St. Louis, MO
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Anonymous
VOSS, Hordaland
Norway

Martin
San Leandro, CA
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Donna
Ann Arbor, MI
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Kay
Columbia, MD KivaFriends.org
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Belle
austin, TX
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Sheung Chung
Edmonton, Alberta
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Kris
Lombard, IL
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Edgar the Cat
Los Angeles, California
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charlie
Portland, Oregon
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Diane R
KivaFriends.org, Santa Clara, CA
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william
bristol, nh
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Jack
Norcross, Georgia
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Anonymous
dallas, TX
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Old Git
Stansted, Essex
United Kingdom

Stephanie
Irving, TX
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Kathleen
Tolland, CT
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Lori Shook
Encinitas, CA
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John
Snohomish, WA
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Christopher Shirk
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Journal entries for Martina Fernandez Paula's Group


Loan has been disbursed
 
Entrepreneur: Martina Fernandez Paula's Group
Location: Cotuí, Dominican Republic

Thank you for your loan. It has been disbursed to the Martina Fernandez Paula group, consisting of Martina Fernandez Paula, Georbania Mendoza, Luisa Sano Nunez, Maria Estela Fernandez Paula, Maria Antonia Suarez Gonzalez 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 22, 2008
Comments (1)

Update on your loan in the Dominican Republic
 
Entrepreneur: Martina Fernandez Paula'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 Martina Fernandez Paula's Group

  Expected Repayments Actual Repayments Comments
January 2009 $237.50 $237.50 Repayment Received
February 2009 $237.50 $0.00 Delinquent
March 2009 $237.50 $0.00 Delinquent
April 2009 $237.50 $0.00 Delinquent
May 2009 $237.50 $0.00 Delinquent
June 2009 $237.50 $0.00 Delinquent
December 2009 $0.00 $51.38