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Rakesh
After the death of his father, Rakesh is now the breadwinner at home. He lives with his mother and two sisters. Besides cultivating rice, he works in his free time as a school bus driver. In 2009, he started cultivating rice cultivation on two hectares of land with a loan of SRD 2,000 from Seva MFI. This has now been extended to 11 hectares. With the profits, he built a residential house for his family. He wants to start his own family but still has a sister who must marry. Rakesh works hard to save for this. He needs a new loan of SRD 11,000 to purchase fertilizers and pesticides.

Additional Information

More information about this loan


This loan is part of Seva's effort to reach marginalized rice farmers who are excluded from Suriname's traditional banking system. This type of loan is designed to help agricultural entrepreneurs become self sustainable. This is especially important in Suriname, where microfinance is limited. These loans provide farmers with the opportunity to thrive in a country where rural and agricultural businesses are considered to be too risky for commercial loans.

About Seva Network Foundation

Stichting Seva Micro Finance Institute (Seva MFI) is an international organization that promotes entrepreneurship among poor and marginalized communities in developing countries. Seva MFI offers loans that enable farmers to purchase pesticides, fertilizer, farming tools and equipment to expand their farm plots and boost their incomes. In 2012, Seva MFI has disbursed over 650 loans to farmers in Suriname.

Tags

About Suriname

  • $16,700
    Average annual income
  • 0
    View loans »
    Suriname Loans Fundraising
  • $606,800
    Funds lent in using Kiva
  • 3.3
    Suriname Dollars (SRD) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,350 helped Rakesh to purchase fertilizers and pesticides.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Oct 3, 2013
Listed
Oct 4, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014