Meroni Ene Moromo


Status: Ended with Loss - Defaulted

$375.00   Loan Request
$0.00   Paid Back

About the Entrepreneur

Name: Meroni Ene Moromo
Location: Kisamis, Kenya
Activity: Cattle

About the Loan

Loan Amount: $375.00
Loan Use: Meroni would like to buy 2 steers for fattening
Repayment Term: 9 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: N/A
Date Listed: Jul 21, 2007
Date Disbursed: Aug 4, 2007
Date Funded:Jul 21, 2007

About the Country

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



Meroni is married with six children who are all in primary school. She is a religious lady with spiritual morals dedicated to serving the community. She is an active member of the Olkenkei Women's Group. She has influenced many young women at her group. As a group they have been running projects which are beneficial to all. This loan is being applied through the group community project. As a member of women of Olkenkei, Meroni will nurture the calves they purchase for six months, and then resell them on the market for appreciated prices. They will use the sales proceeds to repay their loan in lump sum- they will repay the entire principal 6 months from loan initiation.

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Lenders to this entrepreneur

Dave@Sharon
Guernsey, Channel Islands
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Trace
Solana Beach, CA
United States

Richard
Wallington, NJ
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Jayne
Nottingham, Nottinghamshire
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Delta
Toronto, Ontario
Canada

Diane
San Diego, CA
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James Omdahl
Denver, CO
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Mary Ellen
Westbrook, CT
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David
Edinburgh, Edinburgh City
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Jean
St. Louis, MO
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Oskar
Askersund,

shubs
lower gwynedd, PA
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Journal entries for Meroni Ene Moromo


Loan has been disbursed
 
Entrepreneur: Meroni Ene Moromo
Location: Kisamis, Kenya

Thank you for your loan. It has been disbursed to Meroni Ene Moromo by Women`s Economic Empowerment Consort in Kenya. We are excited to watch this business grow. Over the next 6 - 12 months, Women`s Economic Empowerment Consort will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Kisamis, Kenya
Aug 5, 2007
Comments (1)

WEEC loan default
 
Entrepreneur: Meroni Ene Moromo
Location: Kisamis, 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 Kisamis, Kenya
Jun 5, 2008
Comments (82)

Kiva Help Repayment Schedule for Meroni Ene Moromo

  Expected Repayments Actual Repayments Comments
November 2007 $62.50 $0.00 Delinquent
December 2007 $62.50 $0.00 Delinquent
January 2008 $62.50 $0.00 Delinquent
February 2008 $62.50 $0.00 Delinquent
March 2008 $62.50 $0.00 Delinquent
April 2008 $62.50 $0.00 Delinquent