Sofia Marte Duran Group

Status: Ended with Loss - Defaulted

$725.00		Loan Request
$89.17		Paid Back

About the Group

Group Name:	Sofia Marte Duran Group
Group Members:	Sofia Marte Duran Maritza Toribio Holguin Zunilda Soriano Cornelia Hernandez Jorge Carmen Hernandez
Location:	Santo Domingo, Dominican Republic
Activity:	Butcher Shop

About the Loan

Loan Amount:	$725.00
Loan Use:	To invest in large quantity of fresh meat for her butcher shop
Repayment Term:	7 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Nov 20, 2008
Date Disbursed:	Nov 13, 2008
Date Funded:	Nov 22, 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:	35.5515 DOP = 1 USD

For more than 13 years, Sofia has been operating a butcher shop in La Victoria, a low-income community suburb of Santo Domingo. This business has enabled Sofia to provide good education to her unique daughter.

Sofia doesn’t raise animals, so she has to constantly buy bulk fresh meat to operate her business. The entrepreneur is asking for a loan to have a larger amount of working capital to strengthen her business and move it forward. Sofia hopes that her business will allow her to improve her family's standard of living and to keep providing a good education to her daughter.

Sofia is joined in her group by the following women:

Maritza Toribio Holguin, a grocery store owner
Zunilda Soriano, who operates a butcher shop
Cornelia Hernandez Jorge, a mini-market owner
Carmen Hernandez, a clothing retailer

Shown in the picture from left to right are: Cornelia, Carmen, Sofia, Maritza, and Zunilda.

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 Sofia Marte Duran Group

Loan has been disbursed Entrepreneur: Sofia Marte Duran Group Location: Santo Domingo, Dominican Republic Thank you for your loan. It has been disbursed to the Sofia Marte Duran group, consisting of Sofia Marte Duran, Maritza Toribio Holguin, Zunilda Soriano, Cornelia Hernandez Jorge, Carmen Hernandez 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 Santo Domingo, Dominican Republic Nov 23, 2008
Comment on this entry

Update on your loan in the Dominican Republic Entrepreneur: Sofia Marte Duran Group Location: Santo Domingo, 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 Sofia Marte Duran Group

Show Advanced

	Expected Repayments	Actual Repayments	Comments
January 2009	$60.42	$60.42	Repayment Received
February 2009	$120.84	$0.00	Delinquent
March 2009	$120.84	$0.00	Delinquent
April 2009	$120.84	$0.00	Delinquent
May 2009	$120.84	$0.00	Delinquent
June 2009	$181.22	$0.00	Delinquent
December 2009	$0.00	$28.75