David Isindu Mongoi


Status: Paying Back - Delinquent

$375.00   Loan Amount
0% repaid

About the Entrepreneur

Name: David Isindu Mongoi
Location: Kawangware, Nairobi, Kenya
Activity: General Store

About the Loan

Loan Amount: $375.00
Loan Use: To purchase stock
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Sep 11, 2008
Date Disbursed: Sep 25, 2008
Date Funded:Sep 11, 2008

About the Country

Country:Kenya
Avg Annual Income:$1,445.00
Currency:Kenya Shillings (KES)
Exchange Rate:70.5000 KES = 1 USD



David is 37 years old and is married with 2 children ages 8 and 3 respectively. He lives on the outskirts of Nairobi in an area known as Kawangware. In addition to his family, he also takes care of his elderly parent and his younger brothers.

David always dreamed of starting his own business, and in 1992 he opened a small kiosk in his neighborhood out of which he sold snacks and soft drinks. But due to harassment by the City Council, David was forced to close down his kiosk often since he did not have enough money to pay the levies demanded of him. He was earning very little and he needed it all to support his family. Despite these difficulties David didn't lose hope and continued with his small business, hoping one day to expand.

After describing his hardships and ambitions to a close friend, he received a loan to expand his business. He moved from his small kiosk and rented a bigger room. He then stocked items like flour, cooking fat, and sugar, among other goods. He also managed to secure a license. David's business has grown steadily and he is now able to sustain his family and he has no more struggles with the City Council.

David's biggest concern now is meeting customer demand, since he has not been able to add stock since the price of commodities has recently shot skyward. Through Action Now: Kenya and Kiva lenders, he is requesting a loan to increase stock in his shop and increase profitability as he moves goods more quickly. He will also be able to better maintain a customer base since he will always have what they require and in large quantities. The loan will be paid back within 12 months.

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Journal entries for David Isindu Mongoi


Loan has been disbursed
 
Entrepreneur: David Isindu Mongoi
Location: Kawangware, Nairobi, Kenya

Thank you for your loan. It has been disbursed to David Isindu Mongoi 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 Kawangware, Nairobi, Kenya
Oct 22, 2008
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The year of hope/Questionaire
 
Entrepreneur: David Isindu Mongoi
Location: Kawangware, Nairobi, Kenya

After receiving the KIVA loan, which he used to buy stock for his shop, David says that business is good and he has since then seen an increase in his clientele which is a plus on his side. He thanks KIVA lenders and ANK for the loan that is drastically changing his life.

David filled the following questionaire when he visited the office.


Posted by Esther Kantai from Kawangware, Nairobi, Kenya
Feb 2, 2009
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David's questionaire
 
Entrepreneur: David Isindu Mongoi
Location: Kawangware, Nairobi, Kenya

David's questionaire (2)


Posted by Esther Kantai from Kawangware, Nairobi, Kenya
Feb 2, 2009
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David's photo
 
Entrepreneur: David Isindu Mongoi
Location: Kawangware, Nairobi, Kenya

David's photo togethr with ANK staff.


Posted by Esther Kantai from Kawangware, Nairobi, Kenya
Feb 2, 2009
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Update on Your Loan to an Action Now: Kenya Borrower
 
Entrepreneur: David Isindu Mongoi
Location: Kawangware, Nairobi, 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 David Isindu Mongoi

  Expected Repayments Actual Repayments Comments
December 2008 $31.25 $0.00 Delinquent
January 2009 $31.25 $0.00 Delinquent
February 2009 $31.25 $0.00 Delinquent
March 2009 $31.25 $0.00 Delinquent
April 2009 $31.25 $0.00 Delinquent
May 2009 $31.25 $0.00 Delinquent
June 2009 $31.25 $0.00 Delinquent
July 2009 $31.25 $0.00 Delinquent
August 2009 $31.25 $0.00 Delinquent
September 2009 $31.25 $0.00 Delinquent
October 2009 $31.25 $0.00 Delinquent
November 2009 $31.25 $0.00 Delinquent
December 2009 $0.00 $2.94