Irene Malik

Status: Ended with Loss - Defaulted

$450.00		Loan Request
$90.00		Paid Back

About the Entrepreneur

Name:	Irene Malik
Location:	Isinya, Kenya
Activity:	General Store

About the Loan

Loan Amount:	$450.00
Loan Use:	Irene would like to buy more household goods and expand her business premises.
Repayment Term:	13 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	May 27, 2007
Date Disbursed:	Jun 10, 2007
Date Funded:	May 27, 2007

About the Field Partner

Field Partner:

Women`s Economic Empowerment Consort (WEEC)

Field Partner Risk Rating:

(Learn more)

Closed

44 months

1147

$472,185

N/A - No Paying Back Loans

Default Rate:

38.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Kenya
Avg Annual Income:	$1,445.00
Currency:	United States Dollars (USD)

Irene Malik is married with three children. She is an active member of Nashipae Women Group. Irene’s two children are in primary school, and she attends P.E.F.A church at Orturoto.

Three years ago, Irene started operating a small shop at Orturoto town with the help of her husband. Her business is supplying a small amount of income, with which she can’t manage to buy more household goods and pay her children’s school fees.

Irene therefore wants to expand her business premises in order to accommodate more customers. Her business can’t cater for her children’s and other household needs, hence the need for a loan of USD 450 to increase her stock and expand.

Lenders to this entrepreneur

Alexandria
Mokelumne Hill, CA
United States

Anonymous
Wilmington, DE
United States

Anonymous
indiana, PA
United States

Journal entries for Irene Malik

Loan has been disbursed Entrepreneur: Irene Malik Location: Isinya, Kenya Thank you for your loan. It has been disbursed to Irene Malik by Women`s Economic Empowerment Consort in Kenya. We are excited to watch this business grow. Over the next 10 - 18 months, Women`s Economic Empowerment Consort will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Isinya, Kenya Jun 11, 2007
Comment on this entry

WEEC loan default Entrepreneur: Irene Malik Location: Isinya, Kenya Kiva recently notified you that your loan to the business or businesses above will not be repaid in full and is now considered defaulted. As a reminder, any amount of this loan that has been collected by Kiva is available to you as Kiva Credit. You can re-lend this Kiva Credit to another business, withdraw it or donate to Kiva on our website: www.kiva.org. Reason for default: All entrepreneur profiles on Kiva’s website are posted by local Field Partners. This particular business was posted by our Kenyan Field Partner, the Women’s Economic Empowerment Consort (WEEC). WEEC is currently experiencing significant operational difficulties that have caused all active WEEC loans to default. It is important to note that in many cases the entrepreneur repaid the loan to WEEC in full and did benefit from your loan. However, WEEC has experienced operational problems caused by a number of factors, including the unexpected death of WEEC’s founder and Executive Director, poor management of funds, and economic and political unrest in Kenya. Together, these factors produced a situation where Kiva is unable to get a 100% clear account of your specific loan and recover your full loan amount from WEEC. To learn more, please visit: www.kiva.org/about/aboutPartner?id=6 We hope you realize that this outcome is an exception to the norm when lending at Kiva and that you’ll give lending another chance. If you have any questions, please let us know and thanks again for your ongoing support. Sincerely, Shelby Clark Kiva Staff
Posted by Shelby Clark from Isinya, Kenya Jun 5, 2008
Comments (82)

Repayment Schedule for Irene Malik

Show Advanced

	Expected Repayments	Actual Repayments	Comments
September 2007	$45.00	$45.00	Repayment Received
October 2007	$45.00	$45.00	Repayment Received
November 2007	$45.00	$0.00	Delinquent
December 2007	$45.00	$0.00	Delinquent
January 2008	$45.00	$0.00	Delinquent
February 2008	$45.00	$0.00	Delinquent
March 2008	$45.00	$0.00	Delinquent
April 2008	$45.00	$0.00	Delinquent
May 2008	$45.00	$0.00	Delinquent
June 2008	$45.00	$0.00	Delinquent