M.N. Karunathilaka
Loan requested $252.10
Loan issued $252.10
Funds raised $126.05
Sector Retail
Repayment term in months 24.0

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About M.N. Karunathilaka

Karunathilaka is a 31 year old from the Mawanella area in the Kegalle region. He has a young daughter. His average monthly income is approximately Rs 18,000. In order to increase his income and meet the increasing costs of living in rural Sri Lanka, he began a grocery store selling essential items and food to the people in his village. He now has several years experience running this business. A new BMI customer, Karunathilaka has seen the positive outcomes of using microfinance resources to invest in a small business and increase the capacity and success of the business in other microfinance clients in his village. He has now applied for a loan of Rs 50,000. This will enable him to purchase both grocery and other products in bulk, which will be cheaper than the price he currently pays which he knows will increase the profitability of his business. He looks forward to being able to invest in his business in this way.

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 = $126.05
Total Loan Amount = $252.1

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