Mohamed Lamin Mustapha's Group


Status: Paid Back

$1,375.00   Loan Request
$1,375.00   Paid Back

About the Group

Group Name: Mohamed Lamin Mustapha's Group
Group Members: Sulaiman M. Kargbo
Peter Kamara
Saidu Kaba
Mohamed M. Koroma
Mohamed Lamin Mustapha
Location: Makeni, Sierra Leone
Activity: Soft Drinks

About the Loan

Loan Amount: $1,375.00
Loan Use: Invest in business
Repayment Term: 12 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Sep 1, 2008
Date Disbursed: Sep 15, 2008
Date Funded:Sep 1, 2008
Loan Ended:Aug 15, 2009

About the Country

Country:Sierra Leone
Avg Annual Income:$903.00
Currency:Sierra Leone Leones (SLL)
Exchange Rate:2,943.6000 SLL = 1 USD



This group of soldiers are requesting a loan in the amount of US$ 1,375. Three of them will give their share of the loan to their wives to invest in business so that the proceeds they get from these businesses will complement their salaries. The other two will use theirs to complete the building of houses they have already started. Their names are (right to left), Mohamed Lamin Mustapha, Mohamed M. Koroma, Saidu Kabba, Peter Koroma and Sulaiman Kargbo. Mohamed Lamin Mustapha (for this purpose) is the leader of this group. He is 27, born in Kailahun, over 150 miles from Makeni. He has two children who are currently living in Freetown with their mom. His wife will invest this loan in her current soft drink business.



About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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Journal entries for Mohamed Lamin Mustapha's Group


Loan has been disbursed
 
Entrepreneur: Mohamed Lamin Mustapha's Group
Location: Makeni, Sierra Leone

Thank you for your loan. It has been disbursed to the group, consisting of Mohamed Lamin Mustapha, Mohamed M. Koroma, Saidu Kaba, Peter Kamara, Sulaiman M. Kargbo by Salone Microfinance Trust (SMT), a partner of Christian Children's Fund in Sierra Leone. We are excited to watch this business grow. Over the next 10 months, Salone Microfinance Trust (SMT), a partner of Christian Children's Fund will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Makeni, Sierra Leone
Sep 16, 2008
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Kiva Help Repayment Schedule for Mohamed Lamin Mustapha's Group

  Expected Repayments Actual Repayments Comments
December 2008 $137.50 $138.00 Repayment Received
January 2009 $137.50 $137.00 Repayment Received
February 2009 $137.50 $137.50 Repayment Received
March 2009 $137.50 $137.50 Repayment Received
April 2009 $137.50 $137.50 Repayment Received
May 2009 $137.50 $137.50 Repayment Received
June 2009 $137.50 $137.50 Repayment Received
July 2009 $137.50 $137.50 Repayment Received
August 2009 $137.50 $137.50 Repayment Received
September 2009 $137.50 $137.50 Repayment Received