Aseez Mohamed Sadam
Loan requested $438.60
Loan issued $438.60
Funds raised $219.30
Sector Handicraft
Repayment term in months 24.0


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About Aseez Mohamed Sadam

Sadam is the sole breadwinner for his young family in the rural village of Theliyawa in Anuradhapura district. He supports his wife and school going son through a tailoring business which he has been running for 5 years. He joined BMI in January 2012, and obtained a loan of LKR 25,000. He used the loan money to purchase the clothing and yarn stocks for his business. His business is running fairly well at present and the average monthly income it generates is around LKR 25,000. Since the business has benefited greatly from the previous investment, he wishes to develop the business even further with his second BMI loan of LKR 50,000 now. He hopes to use the money to service the machine, and purchase a new stock of raw materials. He reckons that this would continue to ensure the sustainability and expansion of his tailoring business and help to meet the rising costs of supporting his 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 = $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
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Funders to this entrepreneur

Andreas
Sverre Skimmeland
Anonymous
The Imran Family
Investor Image
Anonymous
 
 
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