Update on MinkailuThis is 42-year-old Minkailu. He is married and has four children, ages 11, 16, 18 and 20 years. All of them attend school. In 2001, Minkailu established his slippers business, selling comfort shoes, madam slippers, toilet slippers, foam sandals, foam slippers, etc. He began his business after he dropped out of school. Minkailu also worked as a laborer in order to earn some money to start the business so that he can get back to school. But the business became so interesting that he decided to continue with it rather than going back to school.
Working seven days a week and 11 hours a day, Minkailu earns about SLL 3,600,000 every month from this business. He would like a loan in the amount of SLL 5,000,000. Minkailu has already received and successfully repaid four loans, and now requires a new loan in order to purchase comfort slippers, madam slippers, foam slippers, sponge sandals, sponge slippers, and toilet slippers for resale.
Mankailu uses his profit to support his family. He paid school fees and bought learning materials for his children. He has not been able to buy a car, but has now opened a new business for his wife.
In the future, Minkailu plans to build a house, provide a quality education for his children, and buy a car. This loan will help to improve his business. Minkailu is hardworking and trustworthy. He hopes to maintain a good credit history. He thanks you for your support.
Previous Loan DetailsThis is 41-year-old Minkailu. He is married and has 4 children, aged 10, 15, 17 and 19 years, and all are school-going children. In 2001, Minkailu established his slippers business selling comfort shoes, madam slippers, toilet slippers, foam sandals, foam slippers, etc. He began his business after… More from Minkailu'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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- Repayment Term
- 10 months (Additional Information)
- Repayment Schedule
- Jun 7, 2013
- Jun 14, 2013
- Currency Exchange Loss:
- Jul 14, 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.