Check out some available loans that are similar to this one!
Chernor

Update on Chernor

This is 55-year-old Chernor. He is married and has one child aged eight. In 2002, Chernor established his clothing business. He began his business because he wants to help himself. His business is located in the outskirts of town and his main customers are his community. Working seven days a week and 15 hours a day, he earns about SLL 1,200,000 every month from this business. He would like a loan in the amount of SLL 5,000,000. Chernor requires it in order to buy more clothing for his business to get more profits. In the future, Chernor plans to build a house. He thanks you for your support.

Previous Loan Details

This is 55-year-old Chernor. He is married and has one child aged eight. In 2002, Chernor established his clothing business. He began his business because he wants to help himself. His business is located in the outskirts of town and his main customers are his community. Working seven days a wee... More from Chernor'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

  • $903
    Average annual income
  • 10
    View loans »
    Sierra Leone Loans Fundraising
  • $9,001,175
    Funds lent in using Kiva
  • 4,340.0
    Sierra Leone Leones (SLL) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,175 helped Chernor to buy more clothing for resale.
91% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 7, 2014
Listed
Mar 20, 2014
Currency Exchange Loss:
Possible
This photo was used before for a previous loan for Chernor. It was first posted on Kiva on May, 2013. Learn More