Hassan Turay

Thank you for your loan. It has been disbursed to Hassan Turay by CCF - Salone Microfinance Trust in Sierra Leone. We are excited to watch this business grow. Over the next 12 months, CCF - Salone Microfinance Trust will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

We recently visited Hassan at his clothing store in Magburaka to get an update on his business and the status of the loan. The most recent loan has helped him make great improvements both in his business and personal life. During our visit, I showed him your Kiva profile pictures that I had printed out. He would to share blessings to all of you for helping him and for a job well done. He hopes and prays for improving the livelihoods for the people of Sierra Leone through micro lending.

From the information received during my interview with Hassan and data obtained from SMT’s files, I have conducted two types of impact analyses for you to consider as a Kiva Lender to Hassan. First, a fundamental analysis of his business called a “SWOT” analysis. Second, for repeat borrowers, a financial analysis that illustrates the impact SMT and Kiva loans have made to Hassan’s personal financial situation.

“SWOT” Analysis (Strengths, Weaknesses, Opportunities, and Threats)

Strengths

Location, location, location! – Hassan’s clothing store is located in a very busy marketplace in Magburaka. The location contributes to his strong sales.

Loyal customers – Hassan recognizes and loves his repeat customers from the town. They favor his business over their other clothing store options.

Weaknesses

Product delivery – Hassan obtains most of his goods from the neighboring country of Guinea. He relies on transport vehicles that often break down along the bad roads on the way to/from Guinea.

Opportunities

Product expansion – future loans may allow Hassan to expand his business to include other types of popular clothing items. He is even considering buying and selling palm oil wholesale because it is in such high demand.

Threats

Local competition – there are clothing stores located on the main highway that attract a lot more drive-by customers stopping to impulsively buy clothes. Hassan is not on the main highway through town, so he is losing to competitors in this regard.

Financial Impact from Loans Received

The chart illustrates the change in Hassan’s monthly net income over the course of his loan activity with SMT. His net income is the amount he is able to take home to help his family each month. You can see how the loans from SMT have helped drive sales and steadily increase his net income while lately achieving economies of scale controlling his expenses.

Source: SMT MIS files. Currency conversion at time of analysis (2950 Leones per $1 USD)

Hi again.

Here's a new photo of Hassan taken during a recent visit to his store.

I hope you enjoyed the journal update and found it informative.

Regard,

Adam Grenier

Kiva Fellow

Sierra Leone