Sarah Forson


Status: Paid Back

$650.00   Loan Request
$650.00   Paid Back

About the Entrepreneur

Name: Sarah Forson
Location: Cape Coast, Ghana
Activity: Food Production/Sales

About the Loan

Loan Amount: $650.00
Loan Use: To buy more raw materials like bags of maize, biscuits, sugar, milk etc.
Repayment Term: 8 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Apr 2, 2009
Date Disbursed: Mar 26, 2009
Date Funded:Apr 2, 2009
Loan Ended:Oct 15, 2009

About the Country

Country:Ghana
Avg Annual Income:$2,643.00
Currency:Ghana Cedis (GHS)
Exchange Rate:1.4187 GHS = 1 USD



Sarah Forson is 32 years old, divorced and has given birth to three children. Currently all her children (2 girls, 1 boy) are in school in the community where they live. She ended her marriage because of religious differences. She is a Christian while her ex-husband is a Muslim. He asked her several times to deny her religion and be part of his. For several years this did not happen so there was a need for separation.


Sarah sells maize porridge in her neighborhood. Maize porridge is one of the local foods enjoyed popularly as breakfast by almost all Ghanaians. It is prepared from milled maize boiled and taken with sugar, milk and bread. Sarah also sells assorted biscuits by the road side. With a large customer base, Sarah wants to use the loan to buy more raw materials like bags of maize, sugar and milk to increase production. She also wants to upgrade her biscuit sales. Sarah hopes to increase income to support her children in school. She treks to buy her raw materials from the market. With the loan she believes she can buy more from the farmers which will prevent her from having to use middlemen. She belongs to the village bank called ‘Yesu Abusua Kuo’ which means God’s family.


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Journal entries for Sarah Forson


Loan has been disbursed
 
Entrepreneur: Sarah Forson
Location: Cape Coast, Ghana

Thank you for your loan. It has been disbursed to Sarah Forson by Sinapi Aba Trust (SAT) in Ghana. We are excited to watch this business grow. Over the 5 months of this loan, Sinapi Aba Trust (SAT) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Cape Coast, Ghana
Apr 3, 2009
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Update on Sarah Forson
 
Entrepreneur: Sarah Forson
Location: Cape Coast, Ghana

Sarah is making progress in her business. She says she has achieved remarkable progress since the loan was introduced into her business. With her recent loan, she was able to purchase raw materials for her maize porridge. She was glad that the loan she received from Kiva has boosted up her working capital, affording her the opportunity to make bulk purchase maize and other ingredients in bulk per trip. Being able to buy in bulk is very advantageous. It means fewer trips to fill the demand, and it is a hedge against the rapidly rising prices. She now makes profit margin between 30-40 cedis per week which is almost twice her previous profits. After receiving her second loan cycle with SAT from Kiva lenders, Sarah says she is gradually scaling up her business profit which is making her life quite easy.

Part of her recent profits from her loan went to support her children who are still in school for their school fees and books. She has also been very supportive to her household feeding and payment of bills, with the remainder reinvested in her business.


Posted by Frank Owusu-Boakye from Cape Coast, Ghana
Oct 12, 2009
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Kiva Help Repayment Schedule for Sarah Forson

  Expected Repayments Actual Repayments Comments
July 2009 $130.00 $130.00 Repayment Received
August 2009 $130.00 $130.00 Repayment Received
September 2009 $195.00 $195.00 Repayment Received
October 2009 $130.00 $130.00 Repayment Received
November 2009 $65.00 $65.00 Repayment Received