This loan has been FULLY FUNDED by 17 lenders!

Rita Addo
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Status: Paid Back

$675
Loan Request
Pre-Disbursed : Oct 22, 2008
Listed: Nov 23, 2008
Funded: Nov 23, 2008
$675
Paid Back
Ended: Jul 15, 2009
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About the Loan

Location: Koforidua, Ghana   Repayment Term: 10 months
(more info)
Activity: Used Clothing   Repayment Schedule: Monthly
Loan Use: To increase her trading business' inventory by purchasing additional used clothing and shoes and to rent a store   Currency Exchange Loss: Covered
      Default Protection: Covered
Rita Addo is a 28-year-old married woman with three children, all of whom are in school. She is a very resourceful wife and mother whose hard work brings a great deal to her family. Specifically, Rita supports her husband in providing for the household by working as a trader: she sells used shoes and ladies' slippers to earn a profit. Indeed, there is a big market for used shoes and slippers in Ghana because new shoes/slippers are too expensive for the country's poor people. Accordingly, selling used shoes and slippers is a niche market for many women like Rita to get involved in.

Rita now seeks a loan to increase her business' inventory by purchasing additional used shoes and slippers. She believes the loan proceeds would enable her to pay for her children’s education and to rent a store for her trading business.



She is member of the group known as the God is Good Trust Group. In this group, members guarantee each other's loans as social collateral (i.e., if one member does not promptly repay her portion of the loan, then the other members are responsible for curing the arrears), and they provide support for one another to repay their respective loans.


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About the Country

Country:Ghana
Avg Annual Income:$2,643
Currency:Ghana Cedis (GHS)
Exchange Rate:1.1889 GHS = 1 USD
17 Lenders to this Entrepreneur

Vicki
Amherst, NH
United States

Edward
McLean, VA
United States

Suresh
Port coquitlam, British Columbia
Canada

Allie
Harrisonville, MO
United States

vikram
CLIFTON PARK, NY
United States

Dr. Dan
East Haddam, CT
United States

Lois
San Luis Obispo, CA
United States

Anne-Lise
Vigra, Norway
Norway

Louis
Spring Valley, IL
United States

Steve
St. Paul, MN
United States

Anonymous
Apopka, FL
United States

Nez
Brisbane, Queensland
Australia

Patrick
Munfordville, KY
United States

Patrick
Downers Grove, IL
United States

Wayne
Roswell, GA
United States



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Journal entries for Rita Addo


Subject: Loan has been disbursed
Location: Koforidua, Ghana

Thank you for your loan. It has been disbursed to Rita Addo by Sinapi Aba Trust (SAT) in Ghana. We are excited to watch this business grow. Over the next 7 months, Sinapi Aba Trust (SAT) will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Koforidua, Ghana
Nov 24, 2008
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Kiva Help Repayment Schedule for Rita Addo

  Expected Repayments Actual Repayments Comments
February 2009 $144.63 $144.63 Repayment Received
March 2009 $96.42 $96.42 Repayment Received
April 2009 $96.42 $0.00 Repayment Received
May 2009 $96.42 $0.00 Repayment Received
June 2009 $96.42 $0.00 Repayment Received
July 2009 $96.42 $385.69 Repayment Received
August 2009 $48.27 $48.26 Repayment Received