Ana Adela Reyes Bonilla's Group


Status: Ended with Loss - Defaulted

$725.00   Loan Request
$31.37   Paid Back

About the Group

Group Name: Ana Adela Reyes Bonilla's Group
Group Members: Ana Adela Reyes Bonilla
Rossy Bonilla
Martha Maria Santana Correa
Gladys Mercedes Herrera
Idalina Fortunato Adon
Location: Santo Domingo, Dominican Republic
Activity: Upholstery

About the Loan

Loan Amount: $725.00
Loan Use: Purchase of materials to operate an upholsterer's shop.
Repayment Term: 7 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Dec 9, 2008
Date Disbursed: Dec 3, 2008
Date Funded:Dec 9, 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



Ana Adela is 40 years old and the proud mother of 5 children, all of whom attend school. Together, with her husband, Ana Adela runs a small upholstery business. She’s been running the business for about 5 years and says it’s been successful. In her area, there are few similar businesses, so the neighbors go to her when they need their furniture covered. Her husband does the physical labor while Ana Adela is responsible for managing the business.
Ana Adela explains that Christmas is the period when she receives the most clients. She’s requested a loan to buy materials in order to operate the business and satisfy her client base. She's in need of foam for sofas, leatherette and similar materials.

The entrepreneur hopes that her business will allow her to support her children’s education..

Ana Adela is joined in her group by the following women:
Rossy Bonilla, who sells used clothing;
Martha Maria Santana Correa, who sells fried dishes;
Gladys Mercedes Herrera, who sells pants and slippers;
Idalina Fortunato Adon, who operates a butcher shop;
(In the picture, Ana Adela is the first from the left.)





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 Ana Adela Reyes Bonilla's Group


Loan has been disbursed
 
Entrepreneur: Ana Adela Reyes Bonilla's Group
Location: Santo Domingo, Dominican Republic

Thank you for your loan. It has been disbursed to the Ana Adela Reyes Bonilla group, consisting of Ana Adela Reyes Bonilla, Rossy Bonilla, Martha Maria Santana Correa, Gladys Mercedes Herrera, Idalina Fortunato Adon 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
Dec 10, 2008
Comments (1)

Update on your loan in the Dominican Republic
 
Entrepreneur: Ana Adela Reyes Bonilla'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)

Kiva Help Repayment Schedule for Ana Adela Reyes Bonilla's Group

  Expected Repayments Actual Repayments Comments
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 $120.84 $0.00 Delinquent
July 2009 $120.80 $0.00 Delinquent
December 2009 $0.00 $31.37