Akello Joyce

Status: Refunded

$500.00		Loan Request

About the Entrepreneur

Name:	Akello Joyce
Location:	Mbale, Uganda
Activity:	Clothing Sales

About the Loan

Loan Amount:	$500.00
Loan Use:	To increase stock
Repayment Term:	11 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Nov 4, 2006
Date Disbursed:	Nov 18, 2006
Date Funded:	Nov 4, 2006
Refund Date:	Aug 22, 2007

About the Field Partner

Field Partner:

Women's Initiative to Eradicate Poverty (WITEP)

Field Partner Risk Rating:

(Learn more)

Closed

42 months

306

$4,500

N/A - No Paying Back Loans

Default Rate:

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Uganda
Avg Annual Income:	$1,700.00
Currency:	United States Dollars (USD)

Akello is married with two children and cares for one additional child. She started this business in 2005 with a capital of $100 and currently has a capital of $250.

She has been having challenges in her business due to lack of capital, but the business is a good one because most people in the community can afford to buy 2nd hand clothing and prefer it to buying new more expensive clothes.

She mainly walks around the suburbs, selling her clothes, but sometimes she just displays them by the road near her residence, hence the location of the photo shot.

Akello requests a loan of $500 to enable increase in her stock which will help her generate more money hence improving her standard of living.

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Journal entries for Akello Joyce

Loan money received. Entrepreneur: Akello Joyce Location: Mbale, Uganda Akello Joyce has received loan money worth $500 raisede by Kiva to WITEP. She was very happy for the loan money received. The money has already been put into the business. Thank you for support.
Posted by Janet Alupot from Mbale, Uganda Nov 12, 2006
Comments (3)

Journal Entrepreneur: Akello Joyce Location: Mbale, Uganda JOYCE AKELLO Joyce is so grateful for the loan she got it helped her in that her stock has increased and this helped her in acquire a better place for business. This still helped her to pay her children’s school fees they are now in good schools. This has improved on day to day living it has also helped her to pay for house rent. She is very glad for the help given and only says if she finishes this loan, may KIVA/WITEP help her and give her another chance of such blessed money. Thank you KIVA/WITEP.
Posted by Janet Alupot from Mbale, Uganda Apr 11, 2007
Comments (1)

Loan Refunded Entrepreneur: Akello Joyce Location: Mbale, Uganda This loan has been refunded for the following reason: As you may be aware, each business on Kiva's website is posted by one of Kiva's 60+ Field Partners in 39 developing countries. A Field Partner is an independent microfinance institution that has a history of lending to the poor for a social purpose. They screen each entrepreneur, post his/her profile on the Kiva website, and administer your loan. Kiva routinely audits each Field Partner to ensure your loan is being dutifully administered to the entrepreneur you've selected. In the course of auditing our Field Partner, Women's Initiative to Eradicate Poverty (WITEP) in Uganda, Kiva discovered that some entrepreneurs were not receiving the full amount of their loans. This violates Kiva's policies and we have terminated our relationship with WITEP. All of the loans made to entrepreneurs served by this Field Partner have been refunded. We hope you realize that our audit uncovered a true exception to the norm; the vast majority of our Field Partners administer your loans with the highest integrity. Kiva will continue to audit Field Partners to ensure your loan is being dutifully administered and to make our website a model for transparency in international development. To help inform your choice of Field Partner as well as entrepreneur, we have launched a new feature on the site which helps you evaluate the Field Partner's performance in your lending decision. See www.kiva.org/about/partners/ for details. We hope that you give lending to the working poor another chance by re-lending your Kiva Credit to a new entrepreneur on our site.
Posted by Kiva Staff from Mbale, Uganda Aug 22, 2007
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Repayment Schedule for Akello Joyce

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	Expected Repayments	Actual Repayments	Comments
February 2007	$55.56	$30.00	Repayment Received
March 2007	$55.56	$90.00	Repayment Received
April 2007	$55.56	$0.00	Repayment Received
May 2007	$55.56	$0.00	Repayment Received
June 2007	$55.56	$0.00	Repayment Received
July 2007	$55.56	$0.00	Repayment Received
August 2007	$55.56	$0.00	Repayment Received
September 2007	$55.56	$0.00	Repayment Received
October 2007	$55.52	$0.00	Repayment Received