Rabia Marande

Status: Paid Back

$450.00		Loan Request
$450.00		Paid Back

About the Entrepreneur

Name:	Rabia Marande
Location:	Mwanza, Tanzania
Activity:	Pharmacy

About the Loan

Loan Amount:	$450.00
Loan Use:	To purchase additional stock of medicine.
Repayment Term:	12 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	Covered
Date Listed:	Sep 15, 2008
Date Disbursed:	Sep 29, 2008
Date Funded:	Sep 15, 2008
Loan Ended:	Aug 15, 2009

About the Field Partner

Field Partner:

Sero Lease and Finance Ltd. (SELFINA)

Field Partner Risk Rating:

(Learn more)

Active

24 months

2196

$1,021,325

0.00%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Tanzania
Avg Annual Income:	$723.00
Currency:	Tanzania Shillings (TZS)
Exchange Rate:	1,150.4800 TZS = 1 USD

Mambo from Mwanza Tanzania!

This is Rabia Marande, she is thirty-one years old. She is married with two children, aged five and seven. She started running a pharmacy earlier this year. She works six days a week and is assisted by one employee. She can make a monthly profit of about $100. Rabia is requesting a loan of $450 to purchase additional stock of medicine. In the future she plans to open another business. She thanks you for your support.

SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro-Leasing. The organization is engaged in the economic empowerment of women in Tanzania through the provision of a leasing and leaseback microfinance facility as a practical way to achieve the economic and social emancipation of women. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus they are termed non-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. When a client needs working capital to buy a specific item, SELFINA buys the equipment for said client and extends a loan to her. The same equipment is then leased back to the client so she can use it while in process of paying back her loan Ð a process called a sale and leaseback arrangement. Once the loan has been repaid, SELFINA transfers ownership of the equipment to the client. The advantage of microleasing over traditional microfinance loans is that is allows clients.

Lenders to this entrepreneur

Barbara
Santa Barbara, CA
United States

Amanda
Airdrie, Alberta
Canada

Leen
Utrecht,
Netherlands

Bob
East Lansing, MI
United States

James I
Laguna Beach, CA
United States

Louisa M.
Ontario
Canada

Paul
Houten, Utrecht
Netherlands

Eric
Davis, CA
United States

Bosi
Berlin, KivaFriends.org
Germany

ivana e lorenza
roma, Roma
Italy

MSC Learning by Loaning
Adrian, MI
United States

Kay
Columbia, MD KivaFriends.org
United States

Greta Galeazzi
GALEAZZI GRETA, EUROPEAN CITIZEN
Italy

Geoff

Christmas Island

Top Lending Teams for this entrepreneur

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GRETA GALEAZZI - NO WARS PLEASE - HELP THE POORS
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Journal entries for Rabia Marande

Loan has been disbursed Entrepreneur: Rabia Marande Location: Mwanza, Tanzania Thank you for your loan. It has been disbursed to Rabia Marande by Sero Lease and Finance Ltd. (SELFINA) in Tanzania. We are excited to watch this business grow. Over the next 10 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 Mwanza, Tanzania Sep 30, 2008
Comments (1)

UPDATE ON KIVA LOAN Entrepreneur: Rabia Marande Location: Mwanza, Tanzania Dear lenders, Mambo (Greetings!) from Mwanza, Tanzania and from SELFINA! Thank you for your loan through Kiva to Rabia Marande, a SELFINA client and micro-entrepreneur. The purpose of this journal is to update you on Rabia and the status of her business. As you know, your generosity helped Rabia obtain a loan of $450 in September 2008. When she requested the loan, Rabia was running a pharmacy shop. And used the loan to buy fragile syrup, panadol, syringes, bandage and water. She works at her business for 12 hours per day, 6 days per week. She is assisted by one employee at her business. Since she took out the loan, her business has been doing well and Rabia’s monthly profits have increased from about $50 to approximately $100. She has used these extra profits to successfully repay her loan as well as to pay children school fees and to buy more/better food for her family. In the future, she is planning to request a loan of $1000 from SELFINA with which she plans to open a glossary selling beer Kilimanjaro, balimi. On the personal front, her family is doing well. She is married and has 2 children. Rabia dreams about further studies of their children and build a good house. SELFINA aims to continue to assist Rabia and other women like her, and empower them towards financial security and increased confidence through micro loans. Thank you very much for supporting Rabia! 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 you support!
Posted by peter mwabeza from Mwanza, Tanzania Jan 30, 2009
Comment on this entry

Repayment Schedule for Rabia Marande

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	Expected Repayments	Actual Repayments	Comments
December 2008	$45.00	$45.00	Repayment Received
January 2009	$45.00	$45.00	Repayment Received
February 2009	$45.00	$45.00	Repayment Received
March 2009	$45.00	$45.00	Repayment Received
April 2009	$45.00	$45.00	Repayment Received
May 2009	$45.00	$45.00	Repayment Received
June 2009	$45.00	$45.00	Repayment Received
July 2009	$45.00	$45.00	Repayment Received
August 2009	$45.00	$45.00	Repayment Received
September 2009	$45.00	$45.00	Repayment Received