Update on MohamedThis is 28-year-old Mohamed. He is married and his spouse is a trader whose income is 200,000 SLL every month. He has one child, aged 4 months.
In 2006, Mohamed inherited his electronics business. He began his business because he lost his father when he was in form III/grade 10. His elder brother asked him to assist him doing business. After a year, his elder brother died and he took over the business.
Working seven days a week and 10 hours a day, he earns about 1,368,000 SLL every month from this business.
He would like a loan in the amount of 5,000,000 SLL. Mohamed has already received and successfully repaid 3 loans, and now he requires a new loan in order to purchase the following: tapes recorder, flash drives, radios and batteries. He hopes that this loan will enable him to increase his monthly profits by approximately 250,000 SLL.
In the future, Mohamed plans to build a house and educate his child. His feeling about taking this loan is that he can get more income and business will grow. This loan will help him to achieve his future plans. He serves 15 customers each day. His business is popular because of his good customer care. He is hard-working and trustworthy. He thanks you for your support.
Previous Loan DetailsThis is 27-year-old Mohamed. He is married and his spouse is a trader whose income is 200,000 SLL every month. He has no children. In 2006, Mohamed inherited his electronics business. He began his business because he lost his father when he was in form III/grade 10. His elder brother asked ... 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
- Jan 18, 2013
- Jan 21, 2013
- 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.