Gladis Maria Rosario's Group


Status: Ended with Loss - Defaulted

$1,450.00   Loan Request
$293.95   Paid Back

About the Group

Group Name: Gladis Maria Rosario's Group
Group Members: Nicolasina Bautista
Marina Morrobel Germosen
Jhoan Bautista Adames
Cristina Bautista Diaz
Gladis Maria Rosario
Location: Cotuí, Dominican Republic
Activity: Clothing Sales

About the Loan

Loan Amount: $1,450.00
Loan Use: To start a small business selling clothing, beauty products and other goods.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Oct 15, 2008
Date Disbursed: Oct 31, 2008
Date Funded:Oct 17, 2008

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.0855 DOP = 1 USD



This group, composed of five women, is led by the young and high-spirited Gladis Maria, who lives in the needy community of Sambrana, located in Cotuí. Her husband is a humble fruit farmer, and the couple has three children, two of whom attend school.



Gladis Maria would like to provide her family with a better quality of life, and for this reason is requesting a loan to start a small business selling clothing and accessories as well as beauty products. Gladis explains that she willl start operating the business from her house, since she doesn't have enough capital to rent an establishment. She'll also visit friends and potential clients in the nearby neighborhood in order to promote her products.



Gladis strongly believes that this loan will produce great changes in her family, and she swears that she will be doing her best to come out ahead and improve her family's living conditions.



The members of Gladis' group are:
Cristina Bautista Diaz, a clothing and footwear retailer;
Jhoan Bautista Adames, who sells sweets and candies;
Marina Morrobel Germosen, a mini-market owner;
Nicolasina Bautista, who sells clothing accessories.



The photo shows from left to right, Cristina, Jhoan, Marina, Gladis and Nicolasina




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 Gladis Maria Rosario's Group


Loan has been disbursed
 
Entrepreneur: Gladis Maria Rosario's Group
Location: Cotuí, Dominican Republic

Thank you for your loan. It has been disbursed to the Gladis Maria Rosario group, consisting of Gladis Maria Rosario, Cristina Bautista Diaz, Jhoan Bautista Adames, Marina Morrobel Germosen, Nicolasina Bautista 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
Nov 1, 2008
Comment on this entry

Update on your loan in the Dominican Republic
 
Entrepreneur: Gladis Maria Rosario'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 Gladis Maria Rosario's Group

  Expected Repayments Actual Repayments Comments
January 2009 $241.67 $241.67 Repayment Received
February 2009 $241.67 $0.00 Delinquent
March 2009 $241.67 $0.00 Delinquent
April 2009 $241.67 $0.00 Delinquent
May 2009 $241.67 $0.00 Delinquent
June 2009 $241.65 $0.00 Delinquent
December 2009 $0.00 $52.28