Maritza Otañez's Group

Thank you for your loan. It has been disbursed to the Maritza Otañez group, consisting of Maritza Otañez, Justina Moscoso Almanzar, Roxannys Heredia Morillo, Gregoria Acasio, Miledy Ureña Genao by Fundación San Miguel Arcángel, Inc. (FSMA) in Dominican Republic. We are excited to watch this business grow. Over the 5 months of this loan, Fundación San Miguel Arcángel, Inc. (FSMA) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

This loan has been refunded for the following reason:

As you may know, loans on the Kiva website are administered by independent field partners which are organizations that lend to the poor for poverty alleviation. The role of the Field Partner is to screen each entrepreneur, upload his / her loan request to the Kiva website, disburse the loan and collect repayments. Once a loan is completely funded on the Kiva website, it can sometimes take Kiva up to a month to transfer the funds to our local Field Partner, who then disburses them to the entrepreneur you see on the website.

The Field partner affiliated with the entrepreneur you lent to is Fundación San Miguel Arcangel (FSMA). During the time that elapsed between when this loan received complete funding and when Kiva was poised to send these funds FSMA, Kiva became aware of certain developments that could have a material impact on the sustainability of FSMA’s operations. In order to better understand the situation and the potential impact these developments could have on FSMA's ability to repay lenders to this entrepreneur, Kiva decided to temporarily withhold funds from FSMA. The money you lent was included as part of the amount that we chose to withhold.

A month has now passed and we have not yet been able to gather enough information to ensure that there is a reasonable chance of recovering these funds if we were to send them to our Field Partner. As such, Kiva has decided to refund this loan, and to not send the money you lent to FSMA. We apologize for any inconvenience this may have caused, and we hope you realize that the decision to refund this loan was made with the interests of ensuring that your money has the greatest possible impact it can.

We hope you will use your Kiva credit to lend to another entrepreneur in need, and we thank you for your support of Kiva!