Hardyal

Status: Paid Back

$6,000.00		Loan Request
$6,000.00		Paid Back

About the Entrepreneur

(For privacy reasons, the Field Partner has requested that last name be undisclosed)

Name:	Hardyal
Location:	Queens, Ny, United States
Activity:	Recycling

About the Loan

Loan Amount:	$6,000.00
Loan Use:	To purchase scrap metal
Repayment Term:	26 months - View details below
Lenders Repaid:	Monthly
Currency Exchange Loss:	N/A
Date Listed:	Jun 10, 2009
Date Disbursed:	May 11, 2009
Date Funded:	Jun 19, 2009
Loan Ended:	Nov 15, 2009

About the Field Partner

Field Partner:

ACCION USA

Field Partner Risk Rating:

(Learn more)

Pilot

5 months

$282,800

3.34%

0.00%

Currency Exchange Loss Rate:

0.00%

About the Country

Country:	United States
Avg Annual Income:	$47,000.00
Currency:	United States Dollars (USD)

Hardyal has recently started a recycling business that exports scrap metal to India. He is quite fulfilled in his business because he sees it as a win-win situation. There is a high surplus of scrap metal in the U.S. and a high demand for scrap metal to be used for construction in India.

Hardyar came to ACCION USA to find the capital for start-up costs and was approved for a loan. This is his first loan through ACCION USA and he plans to expand very soon. He enjoys this work because it comes easily to him and he loves to be able to set and achieve his own goals for his business.

Thanks to the flexibility of his job as a cab driver, he has time to find metal through the internet and create a contract with business partners in India to buy the metal. Business has gotten off to a good start, he says. He trusts that within the next two years it will be booming and he can take it on full-time.

Important Information About This Loan
Kiva realizes that access to credit is a challenge for entrepreneurs everywhere. Kiva started out as a website focused on developing-world entrepreneurs. In June 2009, Kiva began experimenting with allowing entrepreneurs in the United States to raise money on its website. If this is something you support, please feel free to fund this loan. If you have questions, including how an entrepreneur in your neighborhood might get a loan, please visit our Help Center and click on "Loans in the United States."

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Top Lending Teams for this entrepreneur

Atheists, Agnostics, Skeptics, Freethinkers, Secular Humanists and the Non-Religious
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Journal entries for Hardyal

Loan has been disbursed Entrepreneur: Hardyal Location: Queens, Ny, United States Thank you for your loan. It has been disbursed to Hardyal by ACCION USA in United States. We are excited to watch this business grow. Over the 23 months of this loan, ACCION USA will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.
Posted by from Queens, Ny, United States Jun 20, 2009
Comment on this entry

Hardyal on CNN Entrepreneur: Hardyal Location: Queens, Ny, United States When CNN asked for an ACCION USA entrepreneur, Hardyal was gracious enough to tell his story. Watch Hardyals few seconds of fame on CNN. Speaking to Hardyal recently we learned that he is still in the early phases of unearthing his business. He visits scrap metal yards and is making many contacts in India to sell the metal to. He hopes to have made several sales by the fall. He continues to be optimistic and excited about his new business.
Posted by Erica Dorn from Queens, Ny, United States Jul 22, 2009
Comment on this entry

Update from ACCION USA Entrepreneur: Hardyal Location: Queens, Ny, United States Dear Kiva Lender, Thank you for choosing to lend to an ACCION USA micro-entrepreneur! Hardyal is currently in the process of repaying his loan. Your loan is helping to provide economic opportunity to Hardyal as well as his entire community. Each time you lend to an ACCION USA entrepreneur, he or she is empowered to create or save jobs in their neighborhood, to earn a living wage for an entire family, and to operate a sustainable business that provides hope to financially underserved individuals. Your loan is also helping businesses survive these tough economic times. Though 2008 was one of the most difficult economic years in recent history, 98% of existing businesses and 89% of start-up businesses that received loans through ACCION USA were still in business at the end of the year. Not only did these businesses survive, but they each retained or created 2.4 jobs on average, predominantly in low-to-moderate income communities. ACCION USA appreciates your choice to support microentrepreneurs in the United States. We invite you to learn more about our work in the U.S. by: - Visiting our blog - Becoming our fan on Facebook - Following @ACCION_USA on Twitter - Learning about volunteer opportunities and other ways to get involved. Please check back soon for more ACCION USA micro entrepreneurs to lend to on Kiva. Sincerely, ACCION USA
Posted by Elise Tosun from Queens, Ny, United States Nov 11, 2009
Comment on this entry

Repayment Schedule for Hardyal

Show Advanced

	Expected Repayments	Actual Repayments	Comments
September 2009	$174.37	$174.37	Repayment Received
October 2009	$230.96	$230.96	Repayment Received
November 2009	$233.90	$233.90	Repayment Received
December 2009	$239.21	$5,360.77	Repayment Received
January 2010	$239.93	Available Jan 1	Repayment Received
February 2010	$245.12	Available Feb 1	Repayment Received
March 2010	$246.11	Available Mar 1	Repayment Received
April 2010	$249.25	Available Apr 1	Repayment Received
May 2010	$257.90	Available May 1	Repayment Received
June 2010	$255.71	Available Jun 1	Repayment Received
July 2010	$260.58	Available Jul 1	Repayment Received
August 2010	$262.28	Available Aug 1	Repayment Received
September 2010	$267.02	Available Sep 1	Repayment Received
October 2010	$269.03	Available Oct 1	Repayment Received
November 2010	$272.45	Available Nov 1	Repayment Received
December 2010	$276.99	Available Dec 1	Repayment Received
January 2011	$279.45	Available Jan 1	Repayment Received
February 2011	$283.85	Available Feb 1	Repayment Received
March 2011	$286.63	Available Mar 1	Repayment Received
April 2011	$290.28	Available Apr 1	Repayment Received
May 2011	$295.43	Available May 1	Repayment Received
June 2011	$297.74	Available Jun 1	Repayment Received
July 2011	$285.81	Available Jul 1	Repayment Received