Maria Belen Maria Group


Status: Ended with Loss - Defaulted

$925.00   Loan Request
$113.77   Paid Back

About the Group

Group Name: Maria Belen Maria Group
Group Members: Maria Belen Maria
Gregoria Rosario Suarez
Felicia Mendoza Sanchez
Maria Evangelista Rosario
Location: Cotuí, Dominican Republic
Activity: Clothing Sales

About the Loan

Loan Amount: $925.00
Loan Use: Purchase of shoes and clothing for a small business.
Repayment Term: 7 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Nov 21, 2008
Date Disbursed: Nov 7, 2008
Date Funded:Dec 12, 2008

About the Country

Country:Dominican Republic
Avg Annual Income:$7,611.00
Currency:Dominican Republic Pesos (DOP)
Exchange Rate:35.5515 DOP = 1 USD



Maria Belen, a mother of four children, is also an experienced entrepreneur whose assiduousness and can-do attitude are well-known and respected in her neighborhood. Her husband is a fruit vendor. To contribute to her family’s budget, Maria Belen sells shoes and clothing to people in her neighborhood. Certainly, it’s been very challenging for the entrepreneur to maintain cash flow, but she expects her new shoes and clothing will help her in repaying the loan requested. Maria Belen promises she’ll keep doing her best to make her business successful and to improve her family’s conditions.

The entrepreneur is joined in her group by the following women:
Gregoria Rosario Suarez – Clothing Sales
Felicia Mendoza Sanchez – Shoes and Slippers sales
Maria Evangelista Rosario – Clothing Sales.
The picture shows from left to right: Maria Belen, Gregoria, Felicia and Maria Evangelista.




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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Kim
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Janet R
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Journal entries for Maria Belen Maria Group


Loan has been disbursed
 
Entrepreneur: Maria Belen Maria Group
Location: Cotuí, Dominican Republic

Thank you for your loan. It has been disbursed to the Maria Belen Maria group, consisting of Maria Belen Maria, Gregoria Rosario Suarez, Felicia Mendoza Sanchez, Maria Evangelista Rosario by Fundación San Miguel Arcángel, Inc. (FSMA) in Dominican Republic. We are excited to watch this business grow. Over the next 5 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
Dec 13, 2008
Comment on this entry

Update on your loan in the Dominican Republic
 
Entrepreneur: Maria Belen Maria 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 Maria Belen Maria Group

  Expected Repayments Actual Repayments Comments
January 2009 $0.00 $77.08  
February 2009 $231.24 $0.00 Delinquent
March 2009 $231.24 $0.00 Delinquent
April 2009 $154.16 $0.00 Delinquent
May 2009 $154.16 $0.00 Delinquent
June 2009 $154.20 $0.00 Delinquent
December 2009 $0.00 $36.69