Seetha Manel Kuruppu
Loan requested $393.70
Loan issued $393.70
Funds raised $196.85
Funds released $0.00
Sector Agriculture
Repayment term in months 24.0

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About Seetha Manel Kuruppu

Manel and her husband live in the rural village called Hapugastenna. Manel works in the village hospital as a Hospital Attendant and her husband is not employed at present. In 2011 February, Manel obtained her first loan of LKR 25,000 for Banana cultivation. She used it to prepare the land and purchase planting materials. The favorable climatic conditions, the demand in the market and the land availability had favored her to start this cultivation in the first place.The photograph shows Manel's Husband in their Banana cultivation. Throughout, Manel was able to earn around LKR 25,000 income per month from the cultivation. Now, she has requested the second loan of LKR 50,000 from BMI to proceed with the replanting of the cultivation which is overdue. Manel plans to use this money to buy planting material, fertilizer and field preparation for re-planting. She wants to develop this cultivation so that will bring them an additional income and a steadier income source at their retirement age.

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

Seetha Manel Kuruppu is one of the long standing BMI clients from Galigamuwa area. She ventured into banana cultivation very successfully started with her first BMI business loan. As her business was flourishing successfully, she went for the second BMI loan of Rs. 50,000. She used this amount to buy a new plot of land and buy fertilizers. She hopes this long term investment is going to bring her more profit in near future, promising her growing success in her business activity. She also hopes to undergo a technical training on latest banana cultivation methods as well.

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Funders to this entrepreneur

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