Richard Mahelela

Status: Paid Back

$500.00		Loan Request
$500.00		Paid Back

About the Entrepreneur

Name:	Richard Mahelela
Location:	Dodoma, Tanzania
Activity:	Crafts

About the Loan

Loan Amount:	$500.00
Loan Use:	To buy more stock
Repayment Term:	6 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Nov 15, 2005
Date Disbursed:	Apr 13, 2005
Date Funded:	Mar 30, 2005
Loan Ended:	Jan 14, 2007

About the Field Partner

Field Partner:

East Africa Beta

Field Partner Risk Rating:

(Learn more)

Closed

55 months

$26,600

N/A - No Paying Back Loans

Default Rate:

9.19%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Tanzania
Avg Annual Income:	$723.00
Currency:	United States Dollars (USD)

This description was written by Richard Mazengo, a staff member for Village Enterprise Fund in Tanzania. He is also a partner representative for Kiva.

The name of the business is Ipagala Curios Group.

Richard started the business with his group of associated and was funded by VEF, in 2002. Their business is buying, making traditional Items and selling to the general public. In their Curio Shop in Dodoma town, they sell Knives, Pens,Fiddle, Mortors or mill, Chairs,Spears, Shoes, Drums, Calabash,and earings.

Through their business they have been making enough profit and they are to pay school fees for their children and meet other family needs. School fees are one of the most important, and difficult to afford, expenses in Tanzania. The majority of children cannot attend school because the families cannot pay these fees.

If they get $ 500.00 they will improve their business by buying more stock to expand their Shop, and this will make more profit for them to pay the loan and other profit for their own use.

Richard Mahelela understands that he is getting a loan and is more than able to pay it back. He is the most experienced man in his region in the business of curios.

Lenders to this entrepreneur

Tim
London,
United Kingdom

Andrew
FT LAUDERDALE, FL
United States

Matt
San Francisco, CA
United States

Carl Haynes
San Jose, CA
United States

Dean Evans
Chicago, IL
United States

Daniel
Montreal, Quebec
Canada

Anonymous
Madrid,
Spain

Unreel Media
Vancouver, British Columbia
Canada

Anonymous
Shoreline, WA
United States

Top Lending Teams for this entrepreneur

Kiva Team Japan
Common Interest
41 Members

Journal entries for Richard Mahelela

Ipagala Curios Fund Entrepreneur: Richard Mahelela Location: Dodoma, Tanzania This business started 2002, by receiving grant of $ 100 from Vef. the group is buying, making and selling Curios as Knives,Fiddle,Chairs, Shoes, Drums, Calabash and Earings. The business have wide market, most of the customers are from all over the World, Because visitors like to buy traditional things and some time hosts buy and give to their visitors as gift. The given loan of $ 500 will expand their business by buying more stock for their business and hence increase their profit which will enable them to support their families and to repay back the loan. Richard Mahelela is the project leader, he is hard working man and is able to handle loans, his group members have long time of experience in business, so they will be able to repay their loan on time. The group giving thanks to the lenders for giving them loan and to KIVA for their work.
Posted by Richard Mazengo from Dodoma, Tanzania Jan 17, 2006
Comments (2)

Expanding the shop... Entrepreneur: Richard Mahelela Location: Dodoma, Tanzania Richard mahelela and his group received Loan of $ 500.00 they used the fund to expand their curios shop, by buying stock of their shop and materials which made their shop to duble the profit in a month because of the availability of the custommers need and the quality of the curios they sell. Due to the success of their business now the families of the group members are able to feed their families to cover the school expenses like uniforms, books, school fees and others. Because of the profit they get from the business mahelela and his curios group members are able to repay their loan faithfully, up to now they have already repaid $ 300.00. their life have changed in a big way in clothing, household Items, madications and other family needs this is a real meaning of The loan that changes lives Sincerely Richard KIVA Tanzania
Posted by Richard Mazengo from Dodoma, Tanzania Jun 3, 2006
Comments (1)

Repayment Schedule for Richard Mahelela

Show Advanced

	Expected Repayments	Actual Repayments
May 2006	$0.00	$50.00
August 2006	$0.00	$250.00
October 2006	$0.00	$50.00
March 2007	$0.00	$150.00