Sumanawathi Makulagama Gallalage
Loan requested $393.70
Loan issued $393.70
Funds raised $196.85
Funds released $0.00
Sector Construction
Repayment term in months 24.0

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About Sumanawathi Makulagama Gallalage

Sumanawathi is a small entrepreneur from the village called Alapala who runs a brick production enterprise with her husband and daughter. Sumanawathi’s husband is also working as a latex tapper in a nearby rubber plantation and the income is not sufficient to fulfill the day today needs. Therefore, Sumanawathi wanted to expand the business and she obtained her first loan of LKR 25,000 in 2010 from BMI to increase the brick production. This was used mainly to obtain suitable raw materials for brick making. Now, Sumanawathi has obtained her second loan of LKR 50,000 to further expand their business and wishes to use it to purchase inputs for the business. Currently, her family income is around LKR 20,000. Sumanawathi also wants to develop the business and hire few people to facilitate the business process. Even Sumanawath’s husband hopes to quit that job and use his full effort on the brick business. Both Sumanawathi and her husband shed their sweat to improve the family condition and make a prosperous future for their only daughter.

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: Sep 02, 2013

M. R. Sumanawathi took her second BMI loan of Rs. 50,000 from Galigamuwa BMI branch in July 2013. She is into making bricks and selling in big quantity. She used the loan amount to buy raw materials including clay and firewood. With this investment very recently, her brick production considerably increased. She hopes this will continue to bring her more profit in near future. She also hopes to go for Enterprise Development trainings conducted by BMI in future to try other business activities as well.

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Funders to this entrepreneur

Shubha & Bala
Hoelder1in is a U.S. 501(c)3 non-profit organization