Lilawathi Henaka Achchilage
Loan requested $625.00
Loan issued $625.00
Funds raised $312.50
Funds released $0.00
Sector Agriculture
Repayment term in months 30.0

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About Lilawathi Henaka Achchilage

Leelawati became a BMI member in year 2010 and obtained her first loan of LKR 20,000 in February in the same year. This was a housing loan and she had used it to renovate the old house they were living in. She is residing in Devalegama village, with her son, husband and the old mother. The husband is working as a office assistant in a government office in the area. The second BMI loan of Leelawati was taken to start a dress making business. It was LKR 50,000 and she had used the money to buy sewing materials and a machine. They have also been engaged in rubber cultivation in small scale and found it also as a profitable business. Earlier Leelawathi tapped rubber trees and sold the raw latex to external buyers. Now they had constructed a small smoke house to process the rubber sheets that they could sell for a higher price. Thus, Leelawati now takes her third loan to improve their small scale rubber cultivation so that to get a higher yield in the future. The money is proposed to use to purchase fertilizer and other labor intensive cultural practices. Leelawathi wants to make the rubber enterprise a secure source of income for their future. She uses her time to engage in both dress making and rubber sheet production, to increase their household income. She wants to finish their partially completed house and create a better living condition with increased income for her family.

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 = $312.5
Total Loan Amount = $625.0

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

Galigamuwa BMI cluster member Leelawathi went for her third BMI loan of Rs. 75,000. Previously, she has taken 2 similar BMI business loans to invest in her business activity related to rubber cultivation. She has used Rs. 20,000 to fence the rubber cultivation area. She also used another Rs. 20,000 for fertilizers purchase. She knows these measures will increase the rubber milk production as well as protection to the land. She has kept the balance loan amount for near future business expansion activities.

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Funders to this entrepreneur

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Sverre Skimmeland
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Anonymous is a U.S. 501(c)3 non-profit organization