A.K.A.A. Kuruppuarachchi
Loan requested $420.17
Loan issued $420.17
Funds raised $210.08
Funds released $0.00
Sector Retail
Repayment term in months 24.0

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About A.K.A.A. Kuruppuarachchi

Ashoka is a BMI client from Dehiowita village in Kegalle district. He resides there with his wife and two children. His main business is fruit selling and he has around 2 years of experience in it. He obtained his first loan from BMI in 2012. It was LKR 30,000. He used this money to start the fruit business. His business then picked up the market and at present he earns an income around LKR 20,000 per month by fruit business. Although the business is enough to cover the daily expenses and business costs, it does not allow Ashoka to retain a considerable amount of a profit. He feels that earning a good profit is important for the future well being of his family specially the children. Therefore, he wishes to make an investment to expand the business by the volume of sales. For this he is now applying for the second loan of LKR 50,000 from BMI. He plans to use the money to purchase more fruits in bulk and improve the storing facilities. Ashoka and his wife believe that, with the assistance of BMI they can achieve their aspirations to become wealthy. Together they want make a steady and high income and uplift the level of living of their 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 = $210.08
Total Loan Amount = $420.17

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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