mary mwangi

About Zidisha Profiles Zidisha entrepreneurs write their own loan profiles and provide their own photos. English is not usually their first language, and many had to overcome great obstacles to obtain an education. Additionally, many do not have cameras and own only a small number of personal photos. As a result, the profiles are not always as polished as on other websites. To keep profiles genuine, Zidisha staff do not make any edits, with the exception of titles for clarity and English translations.

My Story

My name is Mary Muthoni Mwangi. I come from Bahati in Nakuru. Iam a married lady with a daughter who is seven years. We work hand in hand with my husband to raise this lovely daughter of ours.

About My Business

I have a business of secondhand cloth. I sell children clothes which I buy from Nakuru town because it is the nearest town where I can buy. One bail of children clothes cost 150000, which gives about 5000 profit it just take about a week to sell this clothes so per month I can make about 20000 profit. I also do farming where I plant tomatoes and cabbages. I sell them to the near by market and some people come to buy them from home from this business I get about 200000 annually. From these businesses the money we get is used to pay school fees for our daughter and pay other bills. We get about 440000 annually

My Loan Proposal

I would need some money to boost my business like now I would like to be selling varieties of clothes like shirts and ladies wear to add to my children clothes due to my customers demand. This will help me to get more money and create employment for some people; also I would be able to upgrade our living in the family. I would be grateful if zidisha team would give me a loan of 40000



Comments

 

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mary mwangi   May 03, 2013

I am mary mwangi and iam fine. i have not be able to pay the loan because i closed my business and i have my dad who is undergoing dialysis so the money has been a problem to me.For now i am trying to do some farming so i will be paying my loan on December after the harvest 20th 2013 .

Dear lenders,

My name is Traci Yoshiyama and I am Zidisha's Client Relationship Manager in Kenya.

I recently spoke with Ms. Mary Mwangi who has informed me that she has been ill for 7 months now. Due to her illness, she has not been working for the past five months. Despite her illness, she is now better and intends to start working in the upcoming month of March. She thanks you for your patience.

Best regards,
Traci

Hello Lenders,

My name is Vivien Barbier and I’m a client relationship interns for Zidisha in Kenya. Yesterday, I went to visit Mrs Mwangi new business in Nakuru area and had the chance to meet her whole family.

The last year have been tough for Mrs Mwangi, just after receiving the loan she bought clothes in increase the size of the stock of her second-hand clothes business. Unfortunately, even after this investment her business didn’t pick up because of the bad economy in the area. Seeing that her situation was deteriorating and given the little hope that the economy of the area will improve in the short term, Mrs decided to change her business. She choose to open a small restaurant. Mrs Mwangi, her husband and her sister are now serving mainly lunch and tea to the local workers. After 3 months of operation, the restaurant proved itself to be more profitable than the clothes boutique but not profitable enough to cover all the expenses of the family. The 30 meals served each day generate a profit of 300 shillings ($3.5) per day or 72,000 Shilling ($856) per year.

As many villagers in Kenya, Mrs and Mr Mwangi cultivate their own fields to complement their revenue. The harvest season for their 2 hectares maize field will come in December at should allow them to make a bigger profit than with the restaurant. Mr Mwangi told me that since farming was their most profitable activity he was planning to rent more fields during the next year.

The sock of clothes of Mrs Mwangi old boutique is stored at their home without generating any revenue. Mrs Mwangi will try to sell this stock to wholesaler in order to use these funds in their farming business. Last year, the revenue of their field was very small because the rain destroyed their entire tomato plantation. This is why, this year, Mr and Mrs Mwangi decided to plant maize to reduce this risk.

While Mrs Mwangi faces difficult business situation, she still wants the best for her unique daughter. Instead of sending her to the public school, Mrs Mwangi prefers to pay the 15,000 Shillings per year ($178) for a private academy that will provide a better education to her daughter.


Vivien BARBIER
29th August 2012
Nairobi, Kenya

Repayment Schedule Changes

mary mwangi   Aug 28, 2012

i was not able to pay because the business was very down due to some economy problems but i known god will help me make the loan i will try my best and pay the loan i have gone to cooking some food like chapati tea etc the business of selling clothe did not go will i am even doing farming which i will harvest on december so when i harvest i will put some money to the loan

mary mwangi   Jan 14, 2012

i have not been able to pay the loan as it was monthly due to my business was down I also do farming and i had planted some tomatoes but due to bad weather it was spoiled i had planed to pay you after havest please i will try my best to be paying 1500 every month
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mary mwangi

nakuru, Kenya

41% Repaid

About This Loan

Loan Principal Disbursed: USD 341.01
Date Disbursed: Aug 6, 2011
Repayment Period: Number of months or weeks from disbursement until loan is fully repaid 36 months
Total Interest Due to Lenders: This is the annual interest rate proposed by the borrower. Lenders may bid to finance the loan at the borrower’s proposed interest rate, or at a lower rate if they desire. If more bids are received than the amount needed to fund the loan, the borrower will accept the bids with the lowest proposed interest rates.

All interest rates displayed on the Zidisha website are expressed as flat percentages of loan principal per year the loan is held. For example, for a loan of USD 100, taken at 4% annual interest with a repayment period of six months, the total interest amount will be USD 100 * 4% * (6 months / 12 months) = $2.

The expression of interest rates as flat percentages of loan principal amounts is intended to make calculation of interest amounts more intuitive for borrowers and for lenders, and to facilitate comparison with other microfinance loans in borrowers' communities, the majority of which also use the flat rate methodology to express interest rates.
USD 23.97 (2.34%)
Borrower Transaction Fees: A transaction fee paid to Zidisha, expressed as a total amount and as a flat annualized percentage of the loan principal amount. USD 51.15 (5.00%)
Total Amount (Including Interest and Transaction Fee) to be Repaid: Interest plus transaction fees, expressed as a total amount and as a flat annualized percentage of the loan principal amount. USD 75.12 (7.34%)

Funding

Lender Name Amount (USD) Interest
CWS
(1,297)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
67.970.00 %
Benedicte Monroe
(392)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
4.472.00 %
Delph007
(587)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
15.002.00 %
Errol
(277)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
11.242.95 %
Feldborg
(1,867)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
100.003.00 %
qt9998
Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
50.003.00 %
melliecarma
(98)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
34.983.00 %
Christian
(473)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
50.003.00 %
Per
(30)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
1.003.00 %
IJAZBOF
(73)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
5.003.00 %
GalantnostS
(60)Karma is calculated on the basis of the total amount lent by the new members a member has recruited to Zidisha via email invites or gift cards, the number of comments a member has posted in the Zidisha website, and the total amount lent by a member.
1.343.00 %

Repayment schedule


Repayments due as of Apr 19, 2014:  USD 137
Total repaid as of Apr 19, 2014:  USD 113

This loan was rescheduled on Aug 28, 2012
Date Due Amount Due Date Paid Paid Amount The Paid Amounts displayed here are the local currency amounts received, converted to US Dollars at the exchange rate that was effective at the time the loan was disbursed. The amounts credited to individual lenders are converted to US Dollars at the exchange rate that was effective at the time each repayment was received, and due to exchange rate fluctuations they may be more or less than the amounts displayed here.
Oct 06, 201133.28Sep 07, 201133.28
Nov 06, 201133.28Sep 07, 201112.56
  Oct 05, 201120.72
Dec 06, 201123.99Oct 05, 201123.99
Jan 06, 20120.00  
Feb 06, 201216.77Jun 03, 201211.18
  Jul 19, 20125.58
Mar 06, 20125.59Jul 19, 20125.59
Apr 06, 20120.00  
May 06, 20120.00  
Jun 06, 20120.00  
Jul 06, 20120.00  
Aug 06, 20120.00  
Sep 06, 20120.00  
Oct 06, 20127.20  
Nov 06, 20127.20  
Dec 06, 20127.20  
Jan 06, 20137.20  
Feb 06, 20137.20  
Mar 06, 20137.20  
Apr 06, 20137.20  
May 06, 20137.20  
Jun 06, 20137.20  
Jul 06, 20137.20  
Aug 06, 20137.20  
Sep 06, 20137.20  
Oct 06, 20137.20  
Nov 06, 20137.20  
Dec 06, 20137.20  
Jan 06, 20147.20  
Feb 06, 20147.20  
Mar 06, 20147.20  
Apr 06, 20147.20  
May 06, 20147.20  
Jun 06, 20147.20  
Jul 06, 20147.20  
Aug 06, 20141.42  
Total Amount Due272.73Total Paid Amount112.89