R.K. Menike
Loan requested $657.89
Loan issued $657.89
Funds raised $328.95
Sector Retail
Repayment term in months 30.0

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About R.K. Menike

Menike lives in the village called Boyagama in Kegalle district. She lives with her husband who is a night watcher in a nearby estate. They have two sons and a daughter. Since the husband’s income was not enough to cover the day-to-day expenses, Menike ventured into starting a grocery at her home. As BMI commenced its activities in her area, she became an active member of BMI in 2010. Her first loan was LKR 25,000 that she has used. Day by day, her business picked up and made her to expand her shop further more with her second BMI loan of Rs. 50,000 in August 2011. At present she earns an average monthly income of LKR 25,000. Now Menike is planning to go for her third BMI loan of Rs. 75,000 this to further develop her business. She is planning to use the money to buy more grocery items and increase the product variety in her shop. Menike wants to make her business a sustainable income source, to support her family. She intends to earn a good income and save some money for her daughter’s future affairs. Her ambition is to be a successful grocery shop owner in the area.

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 = $328.95
Total Loan Amount = $657.89

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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UnitedProsperity.org is a U.S. 501(c)3 non-profit organization