Chuma Group


Status: Paid Back

$1,525.00   Loan Request
$1,525.00   Paid Back

About the Group

Group Name: Chuma Group
Group Members: Mengi Tarimo
Shirima Alphonce
Method Shayo
Andrea Maramsha
Bosco Mwakisulu
Ally Yusuf
Location: Dar Es Salaam, Tanzania
Activity: Butcher Shop

About the Loan

Loan Amount: $1,525.00
Loan Use: To build a general store
Repayment Term: 6 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Nov 23, 2008
Date Disbursed: Nov 17, 2008
Date Funded:Nov 27, 2008
Loan Ended:Apr 15, 2009

About the Country

Country:Tanzania
Avg Annual Income:$723.00
Currency:Tanzania Shillings (TZS)
Exchange Rate:1,240.0000 TZS = 1 USD



Mengi Tarimo, age 34, is married with three children (ages 8, 4 and 2). He also cares for two children of his late brother (ages 16 and 14). He has a butcher business which he started in 1998. He works from 8 a.m. to 7 p.m. daily and is able to make around $333 per month.

In the past, Mengi has taken out five loans from Tujijenge Tanzania. He used the loans to open a general store and the butcher shop. He now hopes for a loan to start building a frame for another general store. Mengi will share this loan with his subgroup members, who have butcher shops and cafes. His subgroup is part of a loan group called Chuma. The members of the group hold each other accountable in paying back their loans.

In the picture Mengi is the first on the right, standing in a red T-shirt.




About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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Journal entries for Chuma Group


Loan has been disbursed
 
Entrepreneur: Chuma Group
Location: Dar Es Salaam, Tanzania

Thank you for your loan. It has been disbursed to the Mengi Tarimo group, consisting of Mengi Tarimo, Shirima Alphonce, Method Shayo, Andrea Maramsha, Bosco Mwakisulu, Ally Yusuf by Tujijenge Tanzania Ltd in Tanzania. We are excited to watch this business grow. Over the next 3 months, Tujijenge Tanzania Ltd will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Dar Es Salaam, Tanzania
Nov 28, 2008
Comment on this entry

He is doing well and is shows!
 
Entrepreneur: Chuma Group
Location: Dar Es Salaam, Tanzania

Greetings from Tanzania! Thank you for supporting Mengi Tarimo and the chuma group. I am happy to report he is doing extremely well. With the loan he received, he managed to finish building his new general store and increase on the butcher business. As a result, his monthly profit rose to $400! Mengi uses the additional profits to cover household expenses and to pay school fees increase on his two businesses and to pay back the loan. Mengi and the Chuma group are very grateful for the loan and are thankful to every one who has supported them.

To see other loans being fundraised by Tujijenge Tanzania, please click on the following link: http://www.kiva.org/app.php?page=businesses&partner_id=87&status=fundRaising&sortBy=New+to+Old&_tpg=fb


Posted by Rita Nyaborogo from Dar Es Salaam, Tanzania
Apr 23, 2009
Comment on this entry

Kiva Help Repayment Schedule for Chuma Group

  Expected Repayments Actual Repayments Comments
January 2009 $101.67 $101.67 Repayment Received
February 2009 $508.35 $508.35 Repayment Received
March 2009 $406.68 $406.68 Repayment Received
April 2009 $406.68 $406.68 Repayment Received
May 2009 $101.62 $101.62 Repayment Received