John Mongare


Status: Paying Back - Delinquent

$275.00   Loan Amount
0% repaid

About the Entrepreneur

Name: John Mongare
Location: Kibera Slums, Nairobi, Kenya
Activity: General Store

About the Loan

Loan Amount: $275.00
Loan Use: To increase his stock of flour, cooking oil and other food items
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Nov 23, 2008
Date Disbursed: Dec 15, 2008
Date Funded:Nov 24, 2008

About the Country

Country:Kenya
Avg Annual Income:$1,445.00
Currency:Kenya Shillings (KES)
Exchange Rate:76.1000 KES = 1 USD



John Mongare is 37 years old and married, and has four children who attend a local primary school. Apart from his immediate family, he takes care of his orphaned nephew. He lives in the Kibera slum in Nairobi.

John started his business in 2002 after he was laid off from a pharmaceutical company where he had been employed for 13 years. After this John decided to start a general shop with his savings of Ksh 40,000 in order to sustain his livelihood and that of his family and dependents. He started with small quantities of flour, sugar and cooking oil. So far, the business has been of great importance to the community that he serves, since he provides them with daily basic necessities while also ensuring that the customers are satisfied.

John has one problem: he has been unable to expand his business due to lack of funds, since most of his profits are used to take care of his family. He is now requesting a loan of Ksh 20,000 to enable him to add stock to his business. He will stock additional quantities of flour, sugar, cooking oil and paraffin. The stock will be of great help to his business. He expects he will be able to retain his customers and attract many more, since he will always have whatever they want. He will also be able to take care of his family and educate his children and dependents. He thanks Kiva lenders in advance. The repayment period is 12 months.


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Journal entries for John Mongare


Loan has been disbursed
 
Entrepreneur: John Mongare
Location: Kibera Slums, Nairobi, Kenya

Thank you for your loan. It has been disbursed to John Mongare 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 Kibera Slums, Nairobi, Kenya
Dec 15, 2008
Comment on this entry

Update on Your Loan to an Action Now: Kenya Borrower
 
Entrepreneur: John Mongare
Location: Kibera Slums, 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 John Mongare

  Expected Repayments Actual Repayments Comments
March 2009 $22.92 $0.00 Delinquent
April 2009 $22.92 $0.00 Delinquent
May 2009 $22.92 $0.00 Delinquent
June 2009 $22.92 $0.00 Delinquent
July 2009 $22.92 $0.00 Delinquent
August 2009 $22.92 $0.00 Delinquent
September 2009 $22.92 $0.00 Delinquent
October 2009 $22.92 $0.00 Delinquent
November 2009 $22.92 $0.00 Delinquent
December 2009 $22.92 $2.15  
January 2010 $22.92 Available Jan 1  
February 2010 $22.88 Available Feb 1