Mina Donkor


Status: Paid Back

$925.00   Loan Request
$925.00   Paid Back

About the Entrepreneur

Name: Mina Donkor
Location: Koforidua, Ghana
Activity: Grocery Store

About the Loan

Loan Amount: $925.00
Loan Use: To buy bulk supplies of rice, canned foods, milk, food spices, washing soaps and powders.
Repayment Term: 10 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Jul 14, 2008
Date Disbursed: Jul 28, 2008
Date Funded:Jul 14, 2008
Loan Ended:Apr 15, 2009

About the Country

Country:Ghana
Avg Annual Income:$2,643.00
Currency:Ghana Cedis (GHS)
Exchange Rate:1.1067 GHS = 1 USD



Mina is 35 years old. She is married with two children who are currently in school. She owns and operates a grocery and sells items like rice, evaporated milk, canned foods, cooking oil, washing powder, toilet soaps, candies, and biscuits in the local market of Koforidua, Ghana. She wants to use the loan to buy rice, canned foods, milk, food spices, washing soaps and powders in bulk to expand her business. Mina hopes to make good income from the expanded business to support her children in school. She belongs to the community group called ‘Living Faith Trust Group’. The group guarantees a loan through a repayment pledge. Peer pressure and support provide the incentive to repay because if one person in the group defaults, the other group members make up the repayment amount.

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Journal entries for Mina Donkor


Loan has been disbursed
 
Entrepreneur: Mina Donkor
Location: Koforidua, Ghana

Thank you for your loan. It has been disbursed to Mina Donkor by Sinapi Aba Trust (SAT) in Ghana. We are excited to watch this business grow. Over the next 8 months, Sinapi Aba Trust (SAT) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Koforidua, Ghana
Jul 29, 2008
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Update on Mina Donkor
 
Entrepreneur: Mina Donkor
Location: Koforidua, Ghana

Mina wants to thank her cherished lenders for impacting her business through their loans. She needed additional working capital in the form of loan to purchase fresh stock and include new ones to scale up her grocery shop; your timely response to her need has really put smiles on her face. She was resourced with a loan of $925. Olivia says, she has brought in fresh stock of Tin tomatoes, groundnut paste, table salts, rice, vegetable oil, spices and many more. She has even extended her shop on tables outside to accommodate the added stock. She says she can state without hesitation that, her shop is now one of the best shops in the market

Over the last three months, she has realized very good profit and plans to plough back the profit into the business for more expansion. She also hopes to use part of her proceeds to finance her kids’ school.

She says she cannot express how happy you have made her. She says many thanks to you all!


Posted by Frank Owusu-Boakye from Koforidua, Ghana
Jan 20, 2009
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Kiva Help Repayment Schedule for Mina Donkor

  Expected Repayments Actual Repayments Comments
October 2008 $115.62 $116.00 Repayment Received
November 2008 $115.62 $116.00 Repayment Received
December 2008 $115.62 $115.00 Repayment Received
January 2009 $115.62 $115.50 Repayment Received
February 2009 $115.62 $115.63 Repayment Received
March 2009 $115.62 $115.63 Repayment Received
April 2009 $115.62 $115.63 Repayment Received
May 2009 $115.66 $115.61 Repayment Received