This loan has been FULLY FUNDED by 14 lenders!

Angélica María Reyes González
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About the Loan
Location: Managua, Nicaragua   Repayment Term: 10 months
(more info)
Activity: General Store   Repayment Schedule: Monthly
Loan Use: Purchase goods   Currency Exchange Loss: Covered
      Default Protection: Covered
Ms. Angélica María Reyes has been running her small general store in the Ciudad Sandino municipality of the city of Managua for three years. She has managed to supply her shop up to the point where she now has full shelves, obtaining benefits for her family who really needs her support.


She has managed to maintain her general store thanks to support from Ceprodel via microloans. Once again, she needs a loan so that she can purchase goods to sell them in her general store, to which she is so dedicated.

Important Information About This Loan

CEPRODEL's delinquency rate has been above historical norms recently; as of August 24h, 2010, its delinquency rate on Kiva was at 16.59%. Kiva explored this and related issues through its quarterly financial review process, during which Kiva requests financial statements from its field partners. An initial investigation has revealed that much of the cause appears to be related to the global economic downturn and its particular effect on Nicaragua. Nicaragua has been hard hit on several fronts in the last year. CEPRODEL has shared that the economic crisis reduced sales for many small businesses, and reduced overseas remittances upon which many borrowers rely for sustenance. In addition, we've heard reports of a sharp fall in the price of beef and pigs; also that Nicaragua was hit by a drought that further hurt agricultural production. Since CEPRODEL lends heavily in rural areas for agricultural purposes, their borrowers appear to have been especially hard hit by these factors, causing an increase in their delinquency. The organization hopes that things will start to stabilize with the new agricultural cycle in September. However, given this challenging situation, Kiva has felt it necessary to reduce CEPRODEL's risk rating from four to two stars.


Nicaragua Context
In order to help you better understand the potential risks of lending to entrepreneurs in Nicaragua, Kiva continues to provide information on the “No Pago” movement (a movement for non-repayment of loans). The Nicaraguan government appears to have implemented a plan to resolve the uncertainties raised by the previous No Pago 'non-repayment' movement that has affected the country. To learn more, please click here

Translated from Spanish by Elizabeth Casian, Kiva Volunteer

En el municipio de Ciudad Sandino de la ciudad de Managua la señora Angélica María Reyes desde hace tres años inició un pequeño negocio de pulpería y hoy en día ha logrado suplirlo hasta el punto de llenar sus estantes logrando beneficios para su familia que tanto necesita de su apoyo.

Ella ha logrado mantener su pulpería gracias al apoyo que le ha brindado Ceprodel por medio de los créditos y no podemos omitir que una vez más solicita un crédito con el propósito de comprar la mercadería para continuar ofreciéndola en su negocio de pulpería al que tanto se dedica.
About the Country
Country:
Avg Annual Income:$3,636
Currency:Nicaragua Cordobas (NIO)
Exchange Rate:19.7995 NIO = 1 USD

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Status: Paid Back

$400
Loan Request
Pre-Disbursed : Nov 19, 2008
Listed: Dec 23, 2008
Funded: Dec 23, 2008
$400
Paid Back
Ended: Aug 15, 2009
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Journal entries for Angélica María Reyes González


Subject: Loan has been disbursed
Location: Managua, Nicaragua

Thank you for your loan. It has been disbursed to Angélica María Reyes González by CEPRODEL in Nicaragua. We are excited to watch this business grow. Over the 7 months of this loan, CEPRODEL will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Managua, Nicaragua
Dec 24, 2008
Comment on this entry
Kiva HelpKiva Repayment Schedule for Angélica María Reyes González
  Expected Repayments Actual Repayments Comments
March 2009 $54.22 $54.22 Repayment Received
April 2009 $55.16 $55.16 Repayment Received
May 2009 $56.13 $56.13 Repayment Received
June 2009 $57.11 $57.10 Repayment Received
July 2009 $58.11 $58.11 Repayment Received
August 2009 $59.12 $59.12 Repayment Received
September 2009 $60.15 $60.16 Repayment Received