H.P. Swarnalatha
Loan requested $438.60
Loan issued $438.60
Funds raised $219.30
Funds released $0.00
Sector Services
Repayment term in months 24.0

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About H.P. Swarnalatha

Swarnalatha lives in Yattogoda area in Kegalle district with her family. Her husband is a rubber tapper and they have a son and a daughter. Swarnalatha is engaged in dress making which she had continued for the past 8 years. She has taken her first loan of LKR 25,000 from BMI in 2010 November. She used the loan money to purchase raw materials for her business and service the old machine she was using. Her skills and creativity soon attracted more customers and the business started to grow. However, now she is in need of a new machine to increase and diversify her production. To finance this activity she is now applying for her second loan of LKR 50,000 from BMI. She hopes to use this money to purchase a new sewing machine. Swarnalatha’s average monthly income from the business is LKR 15,000. Her hard work has provided a huge support for the household economy of their family, since her husband’s income is not sufficient to cover family costs. Therefore, she hopes to engage in this business as long as she can. Her ambition is to expand the business more by recruiting an assistant and buying few more extra machines. She dearly hope that, the business would enable her to do that and also secure them a superior income in the future.

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