Modeste Cimpaye


Status: Paying Back - Delinquent

$750.00   Loan Amount
17% repaid

About the Entrepreneur

Name: Modeste Cimpaye
Location: Komarock Area, Kenya
Activity: Clothing Sales

About the Loan

Loan Amount: $750.00
Loan Use: Purchase of materials and sewing equipment
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Sep 1, 2008
Date Disbursed: Sep 15, 2008
Date Funded:Sep 1, 2008

About the Country

Country:Kenya
Avg Annual Income:$1,445.00
Currency:Kenya Shillings (KES)
Exchange Rate:68.9000 KES = 1 USD



Modeste Cimpaye is a 48 year-old single mother of 5 children. Modeste is a Burundian refugee who came to Kenya in 1998, fleeing the war that ravaged her country and life at that time. She has lived in Kenya for the last 10 years with her family of four in Komarock, and Nairobi neighborhood. Of her 4 children, two are married to Kenyans, and she takes care of her other 3 children, 2 of whom are in college while the other is in secondary school. In addition to her three children, she also takes care of her granddaughter. Fortunately, her life in Kenya has stabilized after being displaced by the war in native Burundi.

Modeste used to be a teacher in Burundi, but once she came to Kenya she found that she had to find another profession since school syllabi in Kenya are in English and she was trained in the French-speaking education system of Burundi. Therefore in 2002, she joined with 39 other women at her local parish, the Kayole Divine Word Parish, where they taught each other the various skills that they had. She decided to learn how to sew, and with this training she began her own business in 2006.

Modeste gradually built up savings and used what she had accumulated over time to buy materials for her sewing business. Eventually she acquired an old sewing machine as well, and she began making bed covers and bags.

Now that her business is picking up, she feels that she needs to expand so as to increase her clientele base. She also plans on offering permanent employment to the two workers who have been on a casual basis until now. She is therefore requesting from Kiva lenders a loan of Ksh 50,000 to purchase 2 high-quality sewing machines at Ksh 20,000 and additional materials and sewing equipment like buttons, zippers, lining and 2 iron boxes.

Modeste is confident that this worthwhile investment will enable her to better provide for her family and to offer stable employment to the two other workers she has contracted casually until now. She also looks forward to serving as an example to the women of her local community that with diligence, vision and access to initial credit, all things are possible. She thanks Kiva lenders in advance and will repay her loan in 12- 14 months.

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Journal entries for Modeste Cimpaye


Loan has been disbursed
 
Entrepreneur: Modeste Cimpaye
Location: Komarock Area, Kenya

Thank you for your loan. It has been disbursed to Modeste Cimpaye by Action Now: Kenya (ANK) in Kenya. We are excited to watch this business grow. Over the next 12 months, Action Now: Kenya (ANK) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Komarock Area, Kenya
Sep 15, 2008
Comments (3)

Update on Your Loan to an Action Now: Kenya Borrower
 
Entrepreneur: Modeste Cimpaye
Location: Komarock Area, Kenya

Dear Lender,

This is an update on your loan to a borrower working with Action Now: Kenya in Kenya. Thank you for supporting low-income entrepreneurs by lending through Kiva.

You may have noticed that repayments on this loan have not been coming in for quite some time. After detailed investigation by Kiva representatives in Kenya, our team has determined that further repayments on your loan will be considerably delayed. However, Kiva staff are working closely with our Field Partner, Action Now: Kenya, who manages this loan on the ground to arrange the gradual repayment of your loan. To learn more, please visit:

http://www.kiva.org/about/aboutPartner?id=36

Although your loan is delinquent, we hope you realize that over 95% of loans on Kiva have been repaid in full and that you'll give lending to developing world entrepreneurs another chance in the future.

Thank you,

Ben Elberger

Kiva Staff

Microfinance Partnerships Manager


Posted by Benjamin Elberger, Kiva Staff, from San Francisco, United States
Apr 2, 2009
Comments (21)

Kiva Help Repayment Schedule for Modeste Cimpaye

  Expected Repayments Actual Repayments Comments
December 2008 $62.50 $63.00 Repayment Received
January 2009 $62.50 $62.00 Repayment Received
February 2009 $62.50 $0.00 Delinquent
March 2009 $62.50 $0.00 Delinquent
April 2009 $62.50 $0.00 Delinquent
May 2009 $62.50 $0.00 Delinquent
June 2009 $62.50 $0.00 Delinquent
July 2009 $62.50 $0.00 Delinquent
August 2009 $62.50 $0.00 Delinquent
September 2009 $62.50 $0.00 Delinquent
October 2009 $62.50 $0.00 Delinquent
November 2009 $62.50 $0.00 Delinquent
December 2009 $0.00 $4.90