Madhuwanthi Pushpamala Amarasiri
Loan requested $641.03
Loan issued $641.03
Funds raised $320.51
Sector Handicraft
Repayment term in months 30.0


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About Madhuwanthi Pushpamala Amarasiri

Madhuwanthi is an ambitious young entrepreneur from Galigamuwa area. Her husband is a carpenter and she is working as his partner in the timber mill and furniture business they own. They have two small sons. Madhuwanthi’s husband is an experienced carpenter, who has hands-on experience in the business over ten years. This business is the main income source of their family. They trade processed timber and furniture items and the income earned is around LKR 30,000 per month. In 2010 January, Madhuwanthi obtained her first loan of LKR 25,000 to finance their timber business. They used the money to purchase the timber they need for the production. With the growing demand, they needed to expand the business and for that Madhuwanthi took another loan of LKR 50,000 from BMI in 2011 April. Due to the good quality they soon earned a reputation for timber business and now seeking to expand it more. Therefore, Madhuwanthi is now taking her third loan of LKR 75,000 from BMI. They plan to use it to purchase new wood cutting machine and timber in bulk. They both are very confident in their business and working hard to make it sustainable. Through the expansion they hope to earn a high income and ensure a good future for their small sons.


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 = $320.51
Total Loan Amount = $641.03

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
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Funders to this entrepreneur

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Anonymous
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Ami Patel
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Julie
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Judy
David Fisher
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Anonymous
 
 
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