Parmo Mendullo

Status: Paid Back

$275	Loan Request Disbursed : Dec 26, 2007 Listed: Dec 12, 2007 Funded: Dec 12, 2007
$275	Paid Back Ended: Aug 21, 2008

About the Field Partner

Sero Lease and Finance Ltd. (SELFINA) administers this loan. Learn more

Field Partner:

Sero Lease and Finance Ltd. (SELFINA)

Field Partner Risk Rating:

(Learn more)

Fundraising Status:

Active

Time on Kiva:

26 months

Kiva Entrepreneurs:

2510

Total Loans:

$1,115,675

Interest & Fees are Charged:

Yes (Learn more)

Portfolio Yield:	31%
Profitability (Return on Assets):	11%
Average Loan Size (% of Per Capita Income):	126%

Delinquency Rate:

0.00%

Default Rate:

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	Tanzania
Avg Annual Income:	$723
Currency:	Tanzania Shillings (TZS)
Exchange Rate:	1,167.0000 TZS = 1 USD

About the Loan

Location:	Dar Es Salaam, Tanzania	Repayment Term:	14 months (more info)
Activity:	Charcoal Sales	Repayment Schedule:	Monthly
Loan Use:	To purchase additional stocks of charcoal for sale.	Currency Exchange Loss:	Covered
		Default Protection:	Covered

Mrs. Parmo Mendullo is a 46 year-old widow, who since 2006 has been supporting herself by selling charcoal. These small, black and dirty pieces of dry earth are important not just to Parmo but to her customers who rely on charcoal to cook their meals. Many Tanzanians still use small coal pots, in which they arrange mkaa (charcoal) and add either paper, dry grass, old plastic bags, or kerosene in order to light them. The fire requires constant fanning to ignite and maintain the flame and makes cooking quite a hot and laborious task. It may not be the easiest or most environmentally friendly form of cooking, but it is the only option many people can afford. Which is good news for Parmo, who requires a loan of $275 in order to add to her stock of mkaa and continue meeting the customer demand.

SELFINA is engaged in economic empowerment of women in Tanzania through a leasing and leaseback facility as a practical way to achieve economic and social emancipation of women.

SELFINA has taken a lead role as a pioneer of micro-credit in Tanzania through Micro Leasing. Customs and traditions in Tanzania normally make it difficult for women to own land and assets, thus they are termed not credit worthy 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.

SELFINA buys and leases equipment to women. Where a client needs working capital, SELFINA buys equipment from the said client, extending a loan to her, and then leases back the same equipment – a process called sale and leaseback arrangement.

Lenders to this entrepreneur

Diane
Temecula, CA
United States

JILL
SUISUN CITY, CA
United States

Patricia
Corvallis, OR
United States

Sallie
Phoenix, AZ
United States

Bart
Chico, CA
United States

Don
Stow, OH
United States

Margerymiriam
Camden, OH
United States

Elizabeth

Martin
New York, NY
United States

Ray
Hamilton, Ontario
Canada

Trudy
Scottsbluff, NE
United States

Journal entries for Parmo Mendullo

Loan has been disbursed Entrepreneur: Parmo Mendullo Location: Dar Es Salaam, Tanzania Thank you for your loan. It has been disbursed to Parmo Mendullo by Sero Lease and Finance Ltd. (SELFINA) in Tanzania. We are excited to watch this business grow. Over the next 12 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 Dar Es Salaam, Tanzania Dec 27, 2007
Comment on this entry

Parmo Mendullo Entrepreneur: Parmo Mendullo Location: Dar Es Salaam, Tanzania Dear lenders, Mambo (Greetings!) from Dar es salaam, Tanzania and from SELFINA! Thank you for your loan through Kiva to Parmo Mendulo, a SELFINA client and micro-entrepreneur. The purpose of this journal is to update you on Parmo and the status of her business. As you know, your generosity helped Parmo obtain a loan of $ 275 usd in December 2007. She is running a Charcoal business and used the loan to purchase stock of charcoal in bulk. She works at her business six days. She is assisted by one employee at her business. Since she took out the loan, her business has been doing well and Parmo’s monthly profits have increased from about $100 to approximately $150. She has used these extra profits to repay her loan, pay water and electricity bills and buy food for her family. In the future, she is planning to expand her business. On the personal front, her family is doing well. As you may remember, she is widowed. SELFINA aims to continue to assist Parmo and other women like her, and empower them towards financial security and increased confidence through micro loans. Thank you very much for supporting Parmo! 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 your support!
Posted by ANGANILE MWAKALONGE from Dar Es Salaam, Tanzania Mar 3, 2009
Comment on this entry

Repayment Schedule for Parmo Mendullo

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	Expected Repayments	Actual Repayments	Comments
March 2008	$22.92	$23.00	Repayment Received
April 2008	$22.92	$23.00	Repayment Received
May 2008	$22.92	$23.00	Repayment Received
June 2008	$22.92	$23.00	Repayment Received
July 2008	$22.92	$23.00	Repayment Received
August 2008	$22.92	$23.00	Repayment Received
September 2008	$22.92	$23.00	Repayment Received
October 2008	$22.92	$114.00	Repayment Received
November 2008	$22.92	$0.00	Repayment Received
December 2008	$22.92	$0.00	Repayment Received
January 2009	$22.92	$0.00	Repayment Received
February 2009	$22.88	$0.00	Repayment Received