Raisa Marleni Bautista's Group


Status: Ended with Loss - Defaulted

$1,725.00   Loan Request
$349.70   Paid Back

About the Group

Group Name: Raisa Marleni Bautista's Group
Group Members: Luisa Rondon De Rodriguez
Emiliana Simeona De Los Santos
Nancy Arelis Ruiz Montero
Yris Antonia Rodriguez
Raisa Marleni Bautista
Location: Cotuí, Dominican Republic
Activity: Jewelry

About the Loan

Loan Amount: $1,725.00
Loan Use: To start a small business selling costume jewelry
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Oct 19, 2008
Date Disbursed: Nov 2, 2008
Date Funded:Oct 19, 2008

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.0080 DOP = 1 USD



This group is made up of five women who are eager to change their living conditions and to provide their children with a better lifestyle. They live in Cevicos, a low-income community of Cotuí. Raisa Marleni, 22, is the group representative. She has two children who are too small to go to school. Her husband works as salesclerk in a mini-market.



Raisa plans on starting a small business selling jewelry in order to supplement her family's income. She says that she'll use the loan requested to buy some fashionable earrings, bracelets, rings, and anklets. She believes this business will allow her to save money so that she can start her university studies next year.



Raisa will leave the children with their grand-mother when she starts operating her business. This way, she'll be able to visit many potential customers in the neighborhood, which will enhance her chance of success in this endeavor.



The members of Raisa's group are:



Yris Antonia Rodriguez, a hard-working entrepreneur who operates a cafeteria,



Nancy Arelis Ruiz Montero, who produces fried dishes,



Emiliana Simeona De Los Santos, who sells used clothing, and



Luisa Rondon De Rodriguez, a clothing retailer.



The photo shows from left to right, Raisa, Yris, Nancy, Emiliana, 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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Journal entries for Raisa Marleni Bautista's Group


Loan has been disbursed
 
Entrepreneur: Raisa Marleni Bautista's Group
Location: Cotuí, Dominican Republic

Thank you for your loan. It has been disbursed to the Raisa Marleni Bautista group, consisting of Raisa Marleni Bautista, Yris Antonia Rodriguez, Nancy Arelis Ruiz Montero, Emiliana Simeona De Los Santos, Luisa Rondon De Rodriguez 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 3, 2008
Comments (1)

Update on your loan in the Dominican Republic
 
Entrepreneur: Raisa Marleni Bautista'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 Raisa Marleni Bautista's Group

  Expected Repayments Actual Repayments Comments
February 2009 $287.50 $287.50 Repayment Received
March 2009 $287.50 $0.00 Delinquent
April 2009 $287.50 $0.00 Delinquent
May 2009 $287.50 $0.00 Delinquent
June 2009 $287.50 $0.00 Delinquent
July 2009 $287.50 $0.00 Delinquent
December 2009 $0.00 $62.20