Update on MemunaThis is 44-year-old Memuna. She is married and has three children ages 19, 15 and 12. She has one additional dependent who lives with her for schooling. In 2007, Memuna established her commercial timber business. She began her business just to enable her to adequately support her children. Her business is located at the outskirts of town and her main customers are both men and women. Working seven days a week and 10 hours a day, she earns about 800,000 SLL every month from this business. She would like a loan in the amount of 4,000,000 SLL. Memuna has already received and successfully repaid three loans, and now requires a new loan in order to buy timber. She hopes that this loan will enable her to buy more stock and improve her stock level. In the future, Memuna plans to own a timber processing factory, to own a house and to own an outlet in the middle of town. She appreciates the gesture she is receiving from kiva. She thanks you for your support.
Previous Loan DetailsThis is 43 year-old Memuna. She is married and has 3 children aged 18, 15, and 11. In 2007, she established her timber business to enhance her independence, and it is now one of her sources of income. Her customers are both men and women. Working 7 days a week and 10 hours a day, she earns about… More from Memuna'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.
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