Lekamralalage Thilakaratne
Loan requested $438.60
Loan issued $438.60
Funds raised $219.30
Funds released $0.00
Sector Retail
Repayment term in months 24.0


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About Lekamralalage Thilakaratne

Thilkaratne is a domestic retail shop owner from Helamada area in Kegalle district. His wife also helps him in running the business. She is in the photo inside their shop.They had started this business about five years back at a minor level in a small area of their home and now it is moderately developed. In 2011 march they had taken their first BMI loan of LKR 25,000 finance this business. They used it to buy the retail items in bulk for selling. Now they are planning to expand the shop and diversify the product range they sell. Thus, Thilakaratne is now applying for a second loan of LKR 50,000 from BMI, to finance it. Thilakaratne and his wife have one child who is married and lives separately. Thus, he and his wife lives alone in their home undertake their business. They are good social workers in the village and hold membership in village Death Benevolence Society and welfare society. Thilakaratne hopes to expand his business more in future and shift it from home to a separate place. They want to earn a higher income by developing it into a successful business. They also wish to save some money for themselves and not to be a burden to their child 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 = $219.3
Total Loan Amount = $438.6

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

Lekamralalage. R. Thilakaratna is a BMI cluster member from Galigamuwa. He commenced an income generation acitivity by starting a small retail shop next to his house. He improved it by taking his first BMI business loan more than one year ago. Thilakaratna went for his second BMI loan of Rs. 50,000 for the purpose of expanding the retail shop. He bought goods for the shop for the worth of Rs. 45,000. He also hopes to further develop the shop with the profits he earns with all these improvements.

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Funders to this entrepreneur

Geoff
Andreas
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Julie
Sverre Skimmeland
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Anonymous
 
 
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