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Iye

Update on Iye

This is 62-year-old Iye. She is married and has five children who are 39, 36, 33, 30 and 27. In 1990, Iye established her clothing and textiles business. She began her business just to enable her to solve her domestic problems. Her business is located at the city centre and her main customers are mostly women. Working 7 days a week and 10 hours a day, she earns about Le 700,000 every month from this business. She would like a loan of Le 5,000,000. Iye has already received and successfully repaid two loans. She now requires a new loan in order to buy ladies' shoes-1,500,000, wax cotton-2,500,000 and dry cotton-1,000,000. She hopes that this loan will help increase both her profit and stock level. In the future, Iye plans to rent a shop. She is saying thanks to Kiva. She appreciates the gesture she is receiving from Kiva. She thanks you for your support.

Previous Loan Details

This is 61 year-old Iye. She is married and has five children. None are in school. In 1990, Iye established her textiles and ladies' shoes business. She began her business just to enable her to solve her own domestic problems and that is her only source of income. Working seven days a week and... More from Iye'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.

About Sierra Leone

  • $2,100
    Average annual income
  • 51
    View loans »
    Sierra Leone Loans Fundraising
  • $9,344,750
    Funds lent in using Kiva
  • 4,288.0
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Iye to buy textiles and shoes.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 17, 2014
Listed
Jan 27, 2014
Currency Exchange Loss:
Possible
Ended:
Mar 25, 2015