Update on OsmanThis is 30-year-old Osman. He is married and has two children, aged 6 and 3 years. He has seven additional dependents, who live with him because they are his relatives. In 2007, Osman established his used clothing business. He got his initial capital from his uncle. "This business is my only source of income to provide food and other basic things for my family," said Osman.
Working seven days a week and nine hours a day, he earns about 1,000,000 Leones (SLL) every month from this business. Osman would like a loan in the amount of 4,000,000 SLL. He will use the loan in order to buy more used clothing for his business. He hopes that this loan will enable him to increase his monthly profits by approximately 400,000 SLL. In the future, Osman plans to build a dwelling house for his family and to give his children a quality education. He thanks you for your support.
Previous Loan DetailsThis is 29-year-old Osman. He is married and has two children, aged 5 and 2 years. He has seven additional dependents who live with him because they are his relatives. In 2007, Osman established his used clothing business. He got his initial capital from his uncle. "This business is my only… 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
- 10 months (Additional Information)
- Repayment Schedule
- Jun 7, 2013
- Jun 17, 2013
- Currency Exchange Loss:
- Mar 17, 2014
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.