Update on MohamedMohamed is 45 years old, married, and has two children who attend school. His wife is a trader who makes 200,000 SLL in sales per day. In 1990, Mohamed established his used handbags, schoolbags, and purses business. Working seven days a week and 12 hours a day, he earns about 6,744,000 SLL every month from this business.
Mohamed is requesting his third loan of 4,000,000 SLL, which he will use to purchase used handbags, school bags, and traveling bags. He hopes that this loan will enable him to increase his monthly profits by approximately 500,000 SLL. In the future, Mohamed plans to engage in the wholesale business.
Mohammed feels good about the loan because it helps both in his domestic and business affairs. He wants to educate his children and these loans enable him to generate more income. The shortage of goods is his major business problem. His competition is great as several people are in the same business line. He goes for quality sales to better his competitors.
Mohammed began doing business when he was a boy. He was not able to attend school because he was from a poor home. He serves about 50 people per day mostly peddlers and ladies. His business is popular because he has customer care strategies. He has one assistant, a distant cousin, who usually goes to Freetown to buy his goods twice per month.
Mohamed saved his profits to build a house and he is now looking forward to expanding his business through the help of this credit service.
Previous Loan DetailsMohamed is 44 years old, married, and has two children who attend school. His wife is a trader who makes 200,000 SLL in sales per day. In 1990, Mohamed established his used handbags, schoolbags, and purses business. Working seven days a week and 12 hours a day, he earns about 6,744,000 SLL every… More from Mohamed's previous loan »
About the Association or Rural DevelopmentThe 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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
About Sierra Leone
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Success!! The loan was 100% repaid
- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Dec 6, 2012
- Dec 18, 2012
- Currency Exchange Loss:
- Nov 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.