Diogani Fortunato's Group

Status: Ended with Loss - Defaulted

$725.00		Loan Request
$94.43		Paid Back

About the Group

Group Name:	Diogani Fortunato's Group
Group Members:	Diogani Fortunato Johanna Sanchez Ivelisse Abreu Torres Zunilda Fortunado Filomena Enese
Location:	Santo Domingo, Dominican Republic
Activity:	Personal Products Sales

About the Loan

Loan Amount:	$725.00
Loan Use:	Purchase various goods to stock a small store.
Repayment Term:	7 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Nov 20, 2008
Date Disbursed:	Nov 6, 2008
Date Funded:	Nov 23, 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

Diogani (who appears at the far right in the photo) coordinates the activity of this group, which consists of five hard-working and optimistic women. Diogani lives in La Victoria, a suburb of Santo Domingo that is completely plunged into poverty. Most of the people living there don’t have access to education, there’s little opportunity for employment, and the people who work don’t earn considerable wages. Diogani lives in these very adverse conditions with her four children. Despite her difficult situation, Diogani hasn't lost her sense of humor--she even talked about her "mansion," referring to her small, dilapidated house.

About six months ago, Diogani started a small store where she sells hair lotions, facial creams, combs, hair brushes, blouses, and other goods for women. The entrepreneur explained that she had run the store before, but she had to stop because she couldn’t get credit to buy items to stock the store. She thinks that this loan will help her a lot by enabling her to strengthen her business and improve her family’s standard of living. Diogani hopes that someday she’ll have enough money to buy her own house so that her children can have a comfortable lifestyle.

The other members of the group are:

Johanna Sanchez, who runs a mini-market

Ivelisse Abreu Torres, a beauty salon operator

Zunilda Fortunado, a grocery store owner

Filomena Enese, a clothing retailer

The photo shows Diogani’s house.

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

Lenders to this group

Kiva B4B
Spring House, PA
United States

robert
Ypsilanti, MI
United States

Michael
Zurich,
Switzerland

Time 2 Trade
Valencia, Valencia
Spain

Mary Ann
Dallas, TX
United States

Sylvia
San Francisco, CA
United States

Raquel
Gardena, CA
United States

Charles
Casa Grande, AZ
United States

Top Lending Teams for this group

KivaB4B
Businesses
0 Members

Journal entries for Diogani Fortunato's Group

Loan has been disbursed Entrepreneur: Diogani Fortunato's Group Location: Santo Domingo, Dominican Republic Thank you for your loan. It has been disbursed to the Diogani Fortunato group, consisting of Diogani Fortunato, Johanna Sanchez, Ivelisse Abreu Torres, Zunilda Fortunado, Filomena Enese 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 24, 2008
Comment on this entry

Update on your loan in the Dominican Republic Entrepreneur: Diogani Fortunato's 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 (58)

Repayment Schedule for Diogani Fortunato's Group

Show Advanced

	Expected Repayments	Actual Repayments	Comments
January 2009	$65.91	$65.91	Repayment Received
February 2009	$131.82	$0.00	Delinquent
March 2009	$131.82	$0.00	Delinquent
April 2009	$131.82	$0.00	Delinquent
May 2009	$131.82	$0.00	Delinquent
June 2009	$131.81	$0.00	Delinquent
December 2009	$0.00	$28.52