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Minkailu
This is 40-year-old Minkailu. He is married, his spouse is a trader, and her income is Le450, 000. They have four children aged 19, 15, 10 and 7 years old. In 2001, Minkailu established his shoe business. He began his business after he dropped out of school and realised that he needed a source of income to enable him to provide livelihood for his family. Working 7 days a week and 11 hours a day, he earns about Le 1,100,000 every month from this business. He would like a loan in the amount of Le 4,500,000.

Minkailu has already received and successfully repaid two loans and now requires a new loan in order to purchase - Comfort Slippers - 2 cartons @ Le815, 000, Madam Shoes - 1 carton @ Le600, 000, Foam Slippers - 5 dozen @ Le605, 000, Sponge Sandals - 1 carton @ Le750, 000, Sponge Slippers - 2 dozens @ Le240, 000, Plastic Shoes - 1 packet @ Le150, 000 and Toilet Slippers - 4 packets @ Le1, 080,000. The balance of Le 262, 000 will be used for transportation. He hopes that this loan will enable him to increase his monthly profits by approximately Le 200,000.

In the future, Minkailu plans to build his own house and educate his children. He also plans to have a shop and buy a car. His believes that this loan will help him to improve his business. His major challenges are that some items get faded, especially in the dry season, and this can force him to sell at cheaper prices. He serves 15 customers each day. His business is popular because of good quality items. He thanks you for your support.

Additional Information

About the Association or Rural Development

The Association for Rural Development (ARD) is one of the leading microfinance institutions in Sierra Leone. Established in 1989, ARD has offered individual and group loans to support small-scale businesses across the country for two decades. You can learn more about ARD on its partner profile page, support the organization and its staff by joining the ARD lending team, or lend to another one of its borrowers currently raising funds on Kiva.

About Sierra Leone

  • $903
    Average annual income
  • 0
    View loans »
    Sierra Leone Loans Fundraising
  • $8,868,550
    Funds lent in using Kiva
  • 4,402.0
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Minkailu to purchase - Comfort Slippers - 2 cartons @ Le815,000, Madam Shoes - 1 carton @ Le600,000, Foam Slippers - 5 dozen @ Le605,000, Sponge Sandals - 1 carton @ Le750,000, Sponge Slippers - 2 dozens @ Le240,000, Plastic Shoes - 1 packet @ Le150,000 and Toilet Slippers - 4 packets @ Le1,080,000, with the balance of Le262,000 for transportation.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2011
Listed
Oct 29, 2011
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012