Otila Farani


Status: Paying Back

$1,175.00   Loan Amount
15% repaid

About the Entrepreneur

Name: Otila Farani
Location: Tufulele, Samoa
Activity: General Store

About the Loan

Loan Amount: $1,175.00
Loan Use: To purchase additional inventory and to have working capital on hand.
Repayment Term: 14 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Possible
Date Listed: Oct 4, 2009
Date Disbursed: Sep 4, 2009
Date Funded:Oct 11, 2009

About the Country

Country:Samoa
Avg Annual Income:$6,344.00
Currency:Samoa Tala (WST)
Exchange Rate:2.5806 WST = 1 USD



Otila Farani is a 29 year-old woman living in the town of Tufulele. She is married and has four school-aged children. Otila's main source of income is a general store that she owns and operates. She has been running this business for over five years and earns approximately $1250 WST a month.

In 2005, Otila joined SPBD to access their financial services with the goal of improving her living situation and ability to engage in business activities. Otila has successfully repaid a previous SPBD loan in the amount of $2250 WST. She used that loan to expand her business. Otila is now requesting a new loan of $3000 WST, which she will use to purchase additional inventory and to have working capital on hand. This loan will be Otila's fifth from SPBD. She plans to use the additional revenue generated to improve/expand her business.



About SPBD:


SPBD's mission is to improve the quality of life of people living in poverty in the poor island nations of the South Pacific. SPBD's philosophy of lending is based on a respect for each individual's innate human ingenuity, drive and self esteem.



*Note: To maximize efficiency and reduce costs, this loan was posted using a template to automate the translation by Kiva. Given that manual translation of entrepreneur profiles is costly, Kiva created this template for our Field Partner to allow them to continue to post loans in English while providing quality and accurate information to Kiva lenders.



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Journal entries for Otila Farani


Loan has been disbursed
 
Entrepreneur: Otila Farani
Location: Tufulele, Samoa

Thank you for your loan. It has been disbursed to Otila Farani by South Pacific Business Development (SPBD) in Samoa. We are excited to watch this business grow. Over the 11 months of this loan, South Pacific Business Development (SPBD) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Tufulele, Samoa
Oct 12, 2009
Comment on this entry

Kiva Help Repayment Schedule for Otila Farani

  Expected Repayments Actual Repayments Comments
December 2009 $180.76 $180.76 Repayment Received
January 2010 $90.38 Available Jan 1  
February 2010 $112.98 Available Feb 1  
March 2010 $90.38 Available Mar 1  
April 2010 $90.38 Available Apr 1  
May 2010 $112.98 Available May 1  
June 2010 $90.38 Available Jun 1  
July 2010 $90.38 Available Jul 1  
August 2010 $112.98 Available Aug 1  
September 2010 $90.38 Available Sep 1  
October 2010 $90.38 Available Oct 1  
November 2010 $22.64 Available Nov 1