A loan of $450 helped to purchase a refrigerator and additional containers.

Pendo's story

Mambo from Mwanza Tanzania!

Pendo M. is a married woman with two children, aged eleven and twelve. She is thirty-five years old. She started her ice-cream business in 2005. She works six days a week for four hours a day and is assisted by two employees. She earns a monthly profit of about $100 from this business. Pendo is requesting a loan of $450 to purchase another refrigerator and additional containers. 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.

Loan details

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Loan details