Vailet Msemwa


Status: Paid Back

$900.00   Loan Request
$900.00   Paid Back

About the Entrepreneur

Name: Vailet Msemwa
Location: Dar Es Salaam, Tanzania
Activity: General Store

About the Loan

Loan Amount: $900.00
Loan Use: To purchase additional stock for her general store
Repayment Term: 15 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Dec 18, 2007
Date Disbursed: Jan 1, 2008
Date Funded:Dec 18, 2007
Loan Ended:Feb 15, 2009

About the Country

Country:Tanzania
Avg Annual Income:$723.00
Currency:Tanzania Shillings (TZS)
Exchange Rate:1,139.0000 TZS = 1 USD



In 2002 Vailet Msemwa opened a small shop selling basic groceries. Five years later, having wisely invested and repaid two loans from SELFINA, Vailet has expanded the business so that it now generates a monthly profit of around $550, which is a considerable amount in Tanzania. Vailet now wants to expand her business further, by increasing the quantity and range of her stock and buying in bulk. She is married to husband Patson and has five children between the ages of 5 and 18 years.

SELFINA is engaged in economic empowerment of women in Tanzania through leasing and leaseback facility as a practical way to achieve economic and social emancipation for women.



SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro-Leasing. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus they are termed not-creditworthy by financial institutions as they lack tangible collateral assets. This leads to poor financial support hence poor access to basic needs and services for women with low incomes.



SELFINA buys and leases equipment to women. Where a client needs working capital, SELFINA buys equipment from said client extending a loan to her and then leases back the same equipment – a process called a sale and leaseback arrangement.


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Lenders to this entrepreneur

Anonymous
San Clemente, CA
United States

Julia
Austin, TX
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Rick & Cheryl
Cape Girardeau, MO
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Michelle
Portland, OR
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Matt J.
Palo Alto, CA
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Brendan
Latham, NY
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Paul
Dutton, VA
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Anonymous
Steamboat Springs, CO
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Tracie
Oakland, California
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Sasha
Reading, MA
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Colesta
Durham, NC
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Steven
Fairfield, CA
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Yemisi
Playa Vista, CA
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Carl
Northcote, Victoria
Australia

Lauren and Scott
San Jose, CA
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Susan and Bill
North Saanich, British Columbia
Canada

Brian
North Falmouth, MA
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Earle
Lansing, IL
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Anonymous

John & Catherine
Markham, ON
Canada

Anonymous
Hamilton, Ontario
Canada

Krishna
Williamsport, PA
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Paddi S
Devon, Alberta
Canada

Mary
Lawrence, KS
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Terry
Saratoga, CA
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Kendall & Melissa

United States

Paul
DEER ISLAND, OR
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Patrice
BROOKLYN, NY
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Anonymous
North Vancouver, British Columbia
Canada

Navigators
Gaston, OR
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Cheryl
Brooklyn, NY
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Janice
Houston, TX
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Journal entries for Vailet Msemwa


Loan has been disbursed
 
Entrepreneur: Vailet Msemwa
Location: Dar Es Salaam, Tanzania

Thank you for your loan. It has been disbursed to Vailet Msemwa by Sero Lease and Finance Ltd. (SELFINA) in Tanzania. We are excited to watch this business grow. Over the next 12 months, Sero Lease and Finance Ltd. (SELFINA) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Dar Es Salaam, Tanzania
Jan 2, 2008
Comment on this entry

Vaileth Msemwa
 
Entrepreneur: Vailet Msemwa
Location: Dar Es Salaam, Tanzania

Dear lenders,

Mambo (Greetings!) from Dar es Salaam, Tanzania and from SELFINA! Thank you for your loan through Kiva to Vailet Msemwa, a SELFINA client and micro-entrepreneur. The purpose of this journal is to update you on Vailet and the status of her business.

As you know, your generosity helped Vailet obtain a loan of $900.00 in Jan 2008. She is running a general store and used the loan to purchase additional stocks in bulk. She works at her business for 8-10 hours per day, six days per week. Since she took out the loan, her business has been doing well and Vailet monthly profits have increased from 120 to 220 usd. She has used these extra profits to buy food for her family and pay bills.

In the future, she is planning to open another business. On the personal front, her family is doing well. As you may remember, she is married and has five children. SELFINA aims to continue to assist Vailet and other women like her, and empower them towards financial security and increased confidence through microloans. Thank you very much for supporting Vailet! To continue to support women like her and lend to SELFINA borrowers, please click here:

http://www.kiva.org/app.php?page=businesses&partner_id=90&status=All&sortBy=New+to+Old&_tpg=fb

Asante tena (thank you again) for your support!


Posted by ANGANILE MWAKALONGE from Dar Es Salaam, Tanzania
May 4, 2009
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Kiva Help Repayment Schedule for Vailet Msemwa

  Expected Repayments Actual Repayments Comments
April 2008 $75.00 $75.00 Repayment Received
May 2008 $75.00 $75.00 Repayment Received
June 2008 $75.00 $75.00 Repayment Received
July 2008 $75.00 $75.00 Repayment Received
August 2008 $75.00 $75.00 Repayment Received
September 2008 $75.00 $75.00 Repayment Received
October 2008 $75.00 $75.00 Repayment Received
November 2008 $75.00 $75.00 Repayment Received
December 2008 $75.00 $75.00 Repayment Received
January 2009 $75.00 $75.00 Repayment Received
February 2009 $75.00 $75.00 Repayment Received
March 2009 $75.00 $75.00 Repayment Received