Update on MohamedThis is 34-year-old Mohamed M. He is married and has 3 children ages 5, 4 and 2 years old; two are in school. He has 3 additional dependents, who live with him to be fostered and to help in the business.
In 2001, Mohamed M. established his nails, hammers, levels, spanners, lamp holders, bulbs, painting brush, extensions etc. business. He began his business because he stopped in school in Grade 4 for lack of support for his education. He used to assist his mother in her business and when he dropped out of school his mother gave him some amount of money to start a building materials business. Working 7 days a week and 11 hours a day, he earns about 2,000,000 SLL every month from this business.
He would like a loan in the amount of 5,000,000 SLL. Mohamed M. requires a loan in order to buy paint brushes, hand tissue, padlocks, plane, nails, extension cables, solvents, lamp holders, electric bulb and hammers. Mohamed has succeeded in buying some land, he is planning to educate his children and younger ones; he was unable to open a shop because of the high rental cost of shops. This loan will help to improve the business and generate more income. Inadequate capital is his major challenge. He is a hardworking and trustworthy business man. He thanks you for your support.
Previous Loan DetailsThis is 33-year-old Mohamed M. He is married and has 3 children aged 4, 3 and 1; one is in school. He has 3 additional dependents, who live with him to be foster and help in business. In 2001, Mohamed M. established his nails, hammers, levels, spanners, lamp holders, bulbs, painting brush, ex... More from Mohamed'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.
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About Sierra Leone
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Success!! The loan was 100% repaid
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Feb 14, 2014
- Feb 21, 2014
- Currency Exchange Loss:
- Sep 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.