Indrapala Kodikara Arachchilage
Loan requested $393.70
Loan issued $393.70
Funds raised $196.85
Sector Retail
Repayment term in months 24.0


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About Indrapala Kodikara Arachchilage

Indrapala is a mobile merchant from Helamada area who collects and sells agricultural products such as banana, king-coconut and coconut in the adjacent villages. He is also a part-time waged laborer who makes bricks. He lives with his wife and small son who is studying in grade six in the village school. His wife helps him to collect the merchandise from the area. The first loan of LKR 25,000, Indrapala obtained from BMI was used to start a poultry shed in 2011. However, it was not successful since chicken died due to some wild animal attack and an epidemic disease. Thus, Indrapala had chosen the current business. Now, he is taking a loan of LKR 50,000 from BMI with the intention of purchasing more fruits to be sold in retail. He also does bulk selling in Galigamuwa area where he sells his merchandise to local shops. Indrapala wishes to use his full time for the cultivation in the future when it starts to generate a stable income and use it for to uplift the lives of his wife and little son.


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

K. A. Indrapala is a multi trade businessman. A resident of Galigamuwa area, he is also an active BMI client as well. He has taken his first business loan 2 years back and invested in his trade. In July 2013, Indrapala received his second BMI business loan of Rs. 50,000 and invested it to buy bulk amount of coconut, king coconut and banana. He also kept with him Rs. 20,000 out of the loan amount to use it for future business expansion activity. Indrapala also hopes to undergo a business management training programme so that he can run his business more successfully in future.

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Funders to this entrepreneur

Sverre Skimmeland
Andreas
Investor Image
Anonymous
 
 
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