Salomey Nartey


Status: Paid Back

$425.00   Loan Request
$425.00   Paid Back

About the Entrepreneur

Name: Salomey Nartey
Location: Tema, Ghana
Activity: Used Clothing

About the Loan

Loan Amount: $425.00
Loan Use: To meet her customers' demands by purchasing used clothes in bulk
Repayment Term: 10 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Nov 23, 2008
Date Disbursed: Oct 24, 2008
Date Funded:Nov 24, 2008
Loan Ended:Jul 15, 2009

About the Country

Country:Ghana
Avg Annual Income:$2,643.00
Currency:Ghana Cedis (GHS)
Exchange Rate:1.1889 GHS = 1 USD



Salomey Nartey is a 31-year-old married woman with two children, both of whom are in school. For the past 8 years, she has been a trader of clothes. Specifically, she runs her business by "hawking," which is door-to-door sales.



Salomey states that she is an overachiever and that her focus is to save enough money so that she can build a shop in which to display her goods. At present, however, she is seeking a loan to purchase additional used clothes in bulk to meet the demands of her customers.



She is a member of the community group known as the Angel Trust Group. In this group, members guarantee each other's loans as social collateral (i.e., if one member does not promptly repay her portion of the loan, then the other members are responsible for curing the arrears), and they provide support for one another to repay their respective loans. She notes that she does not sell any goods on days when her group meets, and that her picture was taken during her group meeting.


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Journal entries for Salomey Nartey


Loan has been disbursed
 
Entrepreneur: Salomey Nartey
Location: Tema, Ghana

Thank you for your loan. It has been disbursed to Salomey Nartey by Sinapi Aba Trust (SAT) in Ghana. We are excited to watch this business grow. Over the next 7 months, Sinapi Aba Trust (SAT) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Tema, Ghana
Nov 25, 2008
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Update on Salomey Nartey
 
Entrepreneur: Salomey Nartey
Location: Tema, Ghana

Salomey was happy to say that her business has tremendously been impacted with the loan granted to her by lenders. She says, she had run out of stock and needed additional working capital to take advantage of the season. She says your timely response to her need has put a lot of smiles on her face. Salomey is a dealer in used clothing including lace materials. The loan amount of $425 granted to her enabled her to purchase more stock of used clothes and lace materials to serve her customers. She reports that, due to the high patronage, she has made very good income and this has given her business a new phase.

She has accumulated savings over the past four months to support her husband rent new apartment for the family. Salomey says her kids school fees have also been paid for the academic term. She says she couldn’t have achieved this feet without your support. She is also very diligent with her repayment. She expresses her heartfelt thanks to all lenders who made this possible. God bless you.


Posted by Frank Owusu-Boakye from Tema, Ghana
Apr 9, 2009
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Kiva Help Repayment Schedule for Salomey Nartey

  Expected Repayments Actual Repayments Comments
February 2009 $60.70 $60.70 Repayment Received
March 2009 $91.05 $60.70 Repayment Received
April 2009 $60.70 $0.00 Repayment Received
May 2009 $60.70 $30.35 Repayment Received
June 2009 $60.70 $0.00 Repayment Received
July 2009 $60.70 $242.83 Repayment Received
August 2009 $30.45 $30.42 Repayment Received