Gladys Wangui Macharia

Status: Ended with Loss - Defaulted

$225.00		Loan Request
$138.00		Paid Back

About the Entrepreneur

Name:	Gladys Wangui Macharia
Location:	Muranga, Kenya
Activity:	Farming

About the Loan

Loan Amount:	$225.00
Loan Use:	Buy fertilizer and animal feed
Repayment Term:	12 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Mar 6, 2007
Date Disbursed:	Mar 21, 2007
Date Funded:	Mar 7, 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)

Gladys is 35 years old. She is married and has 3 children. She is a member of St. Consolata. Her women's group has worked hard raise the living standards of its members. It has been a great struggle for the members, especially after the collapse of the coffee industry, since most of the members of St. Consolata were coffee farmers.

To encourage the group members, WEEC held seminars with an objective of sensitizing the members about the importance of generating viable business ideas and taking advantage of good business opportunities. The members took this training very seriously and for several years now have come up with many diversified business ideas. WEEC supports these ideas by assisting the groups to fund the members.

Gladys and other members from the Muranga branch came up with a new idea of buying shares from companies that are quoted on the Nairobi Stock Exchange. Since this is a new business idea, the WEEC members invited an Agent to train the women. Gladys was one of the members. After the training, the members who decided not to buy shares were asked why they made this decision. Gladys had this to say: "For many years I have been involved in farming. However, buying shares can be a very risky investment since one doesn’t know when one can gain or loose." Therefore, she decided to improve what she knew better by buying fertilizers and more animal feeds that will enable her to increase her farm produce. "This is what I want to do.” Gladys has applied for a loan of USD225 which has been approved by the Group Secretariat. The loan will be repaid within a period of one year.

Lenders to this entrepreneur

Kathryn
Chicago, IL
United States

Andreas Dittes
Sulzfeld,
Germany

helen
reddick, FL
United States

Anonymous
Houston, TX
United States

Journal entries for Gladys Wangui Macharia

Loan has been disbursed Entrepreneur: Gladys Wangui Macharia Location: Muranga, Kenya Thank you for your loan. It has been disbursed to Gladys Wangui Macharia 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 Muranga, Kenya Mar 21, 2007
Comments (1)

WEEC loan default Entrepreneur: Gladys Wangui Macharia Location: Muranga, 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 Muranga, Kenya Jun 5, 2008
Comments (82)

Repayment Schedule for Gladys Wangui Macharia

Show Advanced

	Expected Repayments	Actual Repayments	Comments
June 2007	$22.50	$0.00	Repayment Received
July 2007	$22.50	$0.00	Repayment Received
August 2007	$22.50	$69.00	Repayment Received
September 2007	$22.50	$23.00	Repayment Received
October 2007	$22.50	$23.00	Repayment Received
November 2007	$22.50	$23.00	Repayment Received
December 2007	$22.50	$0.00	Delinquent
January 2008	$22.50	$0.00	Delinquent
February 2008	$22.50	$0.00	Delinquent
March 2008	$22.50	$0.00	Delinquent