Wishwanathan Shanmugaum
Loan requested $393.70
Loan issued $393.70
Funds raised $196.85
Sector Services
Repayment term in months 24.0

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About Wishwanathan Shanmugaum

Shanmugawe had a very small fruit stall but the income from business was not sufficient and therefore; started the business of purchasing wood, and making furniture later on. He is the only bread winner of the family and has two sons. He is also a active member in the community work and a member of the death benevolence society as well. His carpentry business was started in year 2012. The business premises is located close to the main road and continuous business is guaranteed. Initially, they have just sawed timber and sold them and now they have used the support of a carpenter to make furniture and sell them as well. Shanmugawe joined Berendina in year 2010 and this is his second loan. The first loan was obtained for the existing fruit stall while he obtained the second loan to start the new business. Using the loan capital Shanmugawe plan to expand the business by purchasing additional timber and making furniture.

Partner MFI
Name: Berendina Microfinance Institute Ownership: Non profit
Year Founded: 2007 Partner Since: 2012
Interest Rate: 25.0 % Target Clients: Economically active and inactive poor
Repayment overview

Total Funded Amount = $196.85
Total Loan Amount = $393.7

Repayment Overview chart

Note: This chart indicates the repayment by entrepreneurs on the principal amount. The actual repayment amounts include the interest on the loan and will be different.
Progress Report
Date: Jun 10, 2014

A resident of Galigamuwa and an active BMI client, Vishwanathan took his BMI business loan of Rs. 50,000 in December 2012. He used this amount to make more wood furniture and expanded his business. Now he has also provided additional employment to a village carpenter thus increasing his production range. With the timely investment and new orders in hand, Vishwanathan hopes to sell his products in an open area sale, thus further expanding his customer base, not only from his village but also from surrounding areas.

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Funders to this entrepreneur

Shubha & Bala
Sverre Skimmeland
Trevor Rotzien
UnitedProsperity.org is a U.S. 501(c)3 non-profit organization