Junks Centers Group


Status: Paying Back

$650.00   Loan Amount
60% repaid

About the Group

Group Name: Junks Centers Group
Group Members: Kadiatu Kargbo
Aminata Sesay
Location: Makeni, Sierra Leone
Activity: Used Clothing

About the Loan

Loan Amount: $650.00
Loan Use: Buy two bales of second hand clothes
Repayment Term: 12 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: May 15, 2009
Date Disbursed: Apr 6, 2009
Date Funded:May 15, 2009

About the Country

Country:Sierra Leone
Avg Annual Income:$903.00
Currency:Sierra Leone Leones (SLL)
Exchange Rate:3,150.0000 SLL = 1 USD



This is Kadiatu Kargbo and Aminata Sesay. They named their group Junks Centers. Here in Sierra Leone, second hand clothes are referred to as junks. This is not the first loan these entrepreneurs have accessed from Kiva through SMT. Previous loans have created significant impacts on the lives of these entrepreneurs. They use the proceeds of their businesses to look after their children by feeding them, sending them to school, and meeting their daily financial challenges. Having repaid their last loan successfully, they are now requesting a new loan of SLL 1,000,000 each to further strengthen their businesses.

Kadiatu (right) is the leader of this group. Kadiatu was born in Makeni City, in northern Sierra Leone. She is age 37, and married to a businessman. They have four children. Three of their children are in primary school and one is in secondary school. Kadiatu sells second-hand clothes for children (junks). She has been in this business for three years now. With this loan, Kadiatu will buy two bales of second hand clothes. A bale of used clothes for children is sold for Le 410,000 and she will pay a fare of Le 10,000 to Freetown where bales of junks are sold.





About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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Journal entries for Junks Centers Group


Loan has been disbursed
 
Entrepreneur: Junks Centers Group
Location: Makeni, Sierra Leone

Thank you for your loan. It has been disbursed to Junks Centers Group, consisting of Kadiatu Kargbo, Aminata Sesay by Salone Microfinance Trust (SMT), a partner of Christian Children's Fund in Sierra Leone. We are excited to watch this business grow. Over the 10 months of this loan, Salone Microfinance Trust (SMT), a partner of Christian Children's Fund will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Makeni, Sierra Leone
May 16, 2009
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Kiva Help Repayment Schedule for Junks Centers Group

  Expected Repayments Actual Repayments Comments
July 2009 $65.00 $65.00 Repayment Received
August 2009 $65.00 $16.25 Repayment Received
September 2009 $65.00 $113.75 Repayment Received
October 2009 $65.00 $65.00 Repayment Received
November 2009 $65.00 $65.00 Repayment Received
December 2009 $65.00 $65.00 Repayment Received
January 2010 $65.00 Available Jan 1  
February 2010 $65.00 Available Feb 1  
March 2010 $65.00 Available Mar 1  
April 2010 $65.00 Available Apr 1