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Foday

Update on Foday

This is 21-year-old Foday. He is single and has no children. He has one dependent, his grandmother. He is assisting her because of her old age.
He is still doing his gara tie-dying. Working seven days a week and 16 hours a day, he earns about SLL 900,000 every month from this business.
Foday would like a loan in the amount of SLL 4,500,000. Foday requires a loan in order to buy phone accessories, electrical bulbs and CD disks.
Foday's plans to build are still on hold but he has expanded his business by buying a refrigerator to sell cold water and drinks, He also has a commercial motor bike. This loan will help to generate more income. He is a hard-working and honest businessman. He thanks you for your support.

Previous Loan Details

This is 21-year-old Foday. He is single and has no children. He has one dependent, who is his grandmother. He is assisting her because of her old age. In 2008, Foday established his business selling phone accessories, electrical bulbs, CD plates, and top-up vouchers. He began his business bec... More from Foday's previous loan »

Additional Information

About the Association or Rural Development

The 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.

Tags

About Sierra Leone

  • $2,100
    Average annual income
  • 31
    View loans »
    Sierra Leone Loans Fundraising
  • $9,245,200
    Funds lent in using Kiva
  • 4,357.3
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Foday to buy phone accessories, electrical bulbs and CD disks.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 20, 2013
Listed
Dec 23, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2014
This photo was used before for a previous loan for Foday. It was first posted on Kiva on Aug, 2013. Learn More