Update on OsmanOsman is 52 years old, married, and has three children. He has two additional dependents who live with him and he supports their schooling. In 1989, Osman established his junk business. He began his business immediately after he completed his fifth form, and his parents did not have money to support him in furthering his education. Therefore, he decided to assist his friends in business until the time when he got some capital to establish his own business.
Working seven days a week and 10 hours a day, Osman earns about 2,000,000 SLL a month. He is requesting his second loan for 6,000,000 SLL, which he will use to buy 10 bales of used clothing. He will also use the loan for transportation. He hopes that this loan will enable him to increase his monthly profits by approximately 1,000,000 SLL. In the future, Osman plans to establish his business in the provinces.
Previous Loan DetailsThis is 51-year-old Osman. He is married and has three children aged 25, 17, and 6. He has two additional dependents who live with him and also supports their schooling. In 1989, Osman established his junk business. He began his business immediately after he completed his fifth form, and his… More from Osman'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
- 8 months (Additional Information)
- Repayment Schedule
- Dec 19, 2012
- Dec 20, 2012
- Currency Exchange Loss:
- Jul 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.