New Loan: Alejandrina Suarez Asencion Group

Trip Start Feb 29, 2008
Trip End Ongoing

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Flag of United States  , New Jersey
Tuesday, September 9, 2008

We decided to loan to this group of women who go under the name "Alejandrina Suarez Asencion Group".

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.

Alejandrina lives in Sabana Grande de Boya in the province of Monte Plata where she operates a mini-market. Alejandrina started her business about two years ago with her husband's help, and currently the mini-market is in the black. The entrepreneur has four children, all of whom attend school. She's looking forward to enlarging the variety of products she offers to her customers in order to increase her sales volume and her income. Alejandrina explains that there's a hard competition in the community, however she's always managed to get past that. This successful entrepreneur will receive her loan together with the following women: Lourdes Eugenia Rosario Serrano, who retails jewelry in her community, Juana De Los Santos, who sells clothing within her house, Leticia Garcia Garcia, who will invest in the purchase of beauty products, and Milagros Esperanza Santana Mejia, who sells fruits and vegetables.

About the Group
Group Name: Alejandrina Suarez Asencion Group
Group Members: Milagros Esperanza Santana Mejia
Leticia Garcia Garcia
Juana De Los Santos
Lourdes Eugenia Rosario Serrano
Alejandrina Suarez Asencion
Location: Monte Plata, Dominican Republic Primary
Activity: Grocery Store
Loan Requested: $1,100.00
Repayment Term: 6 months - repaid monthly
Loan Use: To add new products to her mini-market so as to increase her sales volume and income

We'll see how it goes, so far we're at 1 loan paid back and 1 defaulted - at least we got to help someone.
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