Update on EddieThis is forty-six-year-old Eddie. He is married and has four children, aged seven, fifteen, eighteen and twenty-two. He has two additional dependents, who live with him to help with the housekeeping chores.
In 1995, Eddie established his business, where he sells t-shirts, button-down shirts, school bags, perfumes and umbrellas. He began his business because he wanted to be self-reliant, after coming from the mines. His business is located in the city center, and his main customers are adults. Working 7 days a week and 12 hours a day, he earns about Le 2,774,075 every month from this business.
He would like a loan in the amount of Le 5,000,000. Eddie has already received and successfully repaid five loans, and now he requires a new loan in order to buy additional goods to sell, including school bags, exercise books, school shoes, socks and belts. He hopes that this loan will increase his profit, by increasing the stock at his store.
In the future, Eddie plans to open another shop for his brother to manage. His brother has just come from the village. In addition, Eddie hopes to be able to raise enough profit to complete the house he is constructing. He thanks you for your support.
Previous Loan DetailsThis is 46 year old Eddie. He is married and has four children aged seven, fifteen, eighteen and twenty-one, all of whom are attending school. He has two additional dependents, who live with him to help with the household chores. In 1995, Eddie established a business selling school bags, umbrel... More from Eddie'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
- Aug 16, 2013
- Aug 26, 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.