Check out some available loans that are similar to this one!
Ferdinand's Group
In this Group: Ferdinand , Felicia , Patricia , Benedith
Ferdinand is 67 years old and a father of 6; he currently lives with his wife and 2 grandsons. Ferdinand and his wife own and operate a local equipped palm oil processing mill and majority of his mill users are widows. Annually Ferdinand and his mill users process palm oil for the local market. One of the major challenges he is facing now is storage facility. The old storage container he has been using is fast rusting away and sometimes contaminates his final products.

Ferdinand is requesting this loan from Nke-Anyi Farmers Multipurpose Cooperative Society which he is also a member of to enable him purchase plastic storage containers.

Ferdinand is a very mild person and loves to encourage and help the needy within his village, which makes him well-spoken off by relatives and other members of his village.
Ferdinand currently supports his grand sons in Secondary school and hopes that soon he will be able to modernize his mill through Nke-Anyi FMCS mills equipment loan.

The group thanks all those who lovingly contributes to their loan.

Additional Information

About Nke-Anyi FMCS

Nke-Anyi was established to empower rural palm oil millers working in the southeastern Nigerian states. The organization works as a cooperative, in which members save a certain amount per month, generate a return each year and redistribute the loans to co-op members.

The organization works with clients to provide access to financial services, training, access to markets and SMS-based information around palm oil prices.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

Tags

About Nigeria

  • $1,188
    Average annual income
  • 0
    View loans »
    Nigeria Loans Fundraising
  • $5,856,425
    Funds lent in using Kiva
  • 162.8
    Nigeria Nairas (NGN) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Ferdinand's Group's $2,950 loan helped a member to purchase plastic storage tanks to store palm oil products.
0% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Jul 31, 2014
Listed
May 20, 2014
Currency Exchange Loss:
Possible