Angelica Maria Mata Amparan


Status: Paying Back - Delinquent

$825.00   Loan Amount
66% repaid

About the Entrepreneur

Name: Angelica Maria Mata Amparan
Location: Zacatecas, Mexico
Activity: Paper Sales

About the Loan

Loan Amount: $825.00
Loan Use: to buy a photocopier
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Dec 29, 2008
Date Disbursed: Dec 4, 2008
Date Funded:Dec 29, 2008

About the Country

Country:Mexico
Avg Annual Income:$11,249.00
Currency:Mexico Pesos (MXN)
Exchange Rate:13.4504 MXN = 1 USD



Angelica began her business since her husband is a commission agent and their household income was not secure. This made it so, on certain dates, the family was short of the income needed for basic household expenses. For this reason, they decided to set up a stationery store since her husband knows this business, as he was a commissioner for a large stationery store. She began the business in August of 1993 in what was the living room of their house. She prepared a small space to put a few shelves and a small counter with basic stationery items, which she brought with her to make the products known through the relatively new district. Since it began, the business has gone very well given that her clients have recommended her which has allowed her to generate more clients. Currently, in addition to selling stationery items, they sell gifts and novelties according to the needs of her clients. And, since there is a school nearby, they are able to offer a new service, photocopying documents, which has considerably increased their income.

Now she needs a loan of $11,000 Mexican pesos, which she will repay in 6 months, to buy another photocopier so that she can provide better and faster services to her clients.

Translated from Spanish by Anne Rodriguez, Kiva Volunteer


Angélica inició el negocio debido a que su esposo es comisionista, por lo que el ingreso familiar no era fijo, lo que hacia que en ciertas fechas estuviera apurados para completar los gastos básicos de la familia., por lo cual decidieron poner una papelería ya que su esposo conoce de ese negocio, debido a que es comisionista de una papelera grande. Comenzó el negocio en agosto de 1993, en lo que era la sala de su casa, la acondiciono en pequeño para poner unos pocos estantes y un pequeño mostrador con artículos de papelería básicos, lo que trajo consigo que se dieran a conocer dentro de la colonia la cual era relativamente nueva. Desde que inicio le ha ido muy bien ya que sus mismos clientes la han ido recomendado lo que le ha permitido generar mas clientes, en la actualidad además de vender artículos de papelería, venden regalos y novedades acordes a las necesidades de sus clientes, y como hay cerca una escuela esto les permitió brindar un nuevo servicio que es el fotocopiado de documentos, que aumento considerablemente los ingresos

Ahora ella necesita un préstamo por MXN $11,000 que pagara en 6 meses para comprar una fotocopiadora más y poder dar un mejor y mas rápido servicio a sus clientes.

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Journal entries for Angelica Maria Mata Amparan


Loan has been disbursed
 
Entrepreneur: Angelica Maria Mata Amparan
Location: Zacatecas, Mexico

Thank you for your loan. It has been disbursed to Angelica Maria Mata Amparan by Admic Nacional in Mexico. We are excited to watch this business grow. Over the 6 months of this loan, Admic Nacional will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Zacatecas, Mexico
Dec 30, 2008
Comment on this entry

Update on your loan to an entrepreneur in Mexico.
 
Entrepreneur: Angelica Maria Mata Amparan
Location: Zacatecas, Mexico

Dear Kiva Lender –

You are receiving this message because you made a loan to an entrepreneur in Mexico through Kiva’s Field Partner, Admic Nacional. As you may know, all entrepreneur profiles on Kiva’s website are posted by local Field Partners (microfinance institutions), which are organizations that lend to the working poor to help them lift themselves out of poverty. The role of the Field Partner is to screen each entrepreneur, upload his/her loan request on the Kiva website, disburse the loan, and collect repayments.

In early June 2009, during routine field partner monitoring at Admic, Kiva became aware of difficulties Admic was having, making it difficult for the institution to pay back its loans to Kiva on-time. When Kiva learned this information, we immediately placed Admic on pause on the website, meaning they could no longer post new loan requests on Kiva. All loans that had been uploaded to Kiva, but where money had not yet been disbursed to Admic, were refunded to Kiva lenders. In addition, Kiva reduced Admic’s star rating to 1 star.

A few weeks later, Kiva went on-site to Admic’s headquarters. During our visit, we were able to understand in more depth the challenges Admic is facing. In late 2008, Admic’s board uncovered an operational fraud at the management level that had detrimental effects on Admic’s portfolio quality. The management was removed from the organization and a new management has now taken over and improved the flawed internal controls that existed earlier. Admic is working hard to restore the health of its portfolio and continue to grow. However, given the severity of the fraud and the poor portfolio quality, Admic is unable to pay back its funders at this time, including Kiva, and continue operating to be able get back on its feet. Therefore, Kiva has agreed to restructure Admic’s debt, allowing Admic to pay the $49,889 owed to Kiva lenders in equal installments over a 24 month period. As this money is received from Admic, Kiva lenders will be paid back on a proportional basis.

All updates regarding Admic are posted directly to Admic’s partner page, which can be found here.


Posted by Giovanna Masci, Kiva Staff, from San Francisco, United States
Jul 23, 2009
Comments (32)

Kiva Help Repayment Schedule for Angelica Maria Mata Amparan

  Expected Repayments Actual Repayments Comments
March 2009 $137.50 $137.50 Repayment Received
April 2009 $137.50 $137.50 Repayment Received
May 2009 $137.50 $137.50 Repayment Received
June 2009 $137.50 $137.49 Repayment Received
July 2009 $137.50 $0.00 Delinquent
August 2009 $137.50 $0.00 Delinquent