Fatu Jalloh


Status: Refunded

$1,150.00   Loan Request

About the Entrepreneur

Name: Fatu Jalloh
Location: Makeni, Sierra Leone
Activity: Home Products Sales

About the Loan

Loan Amount: $1,150.00
Loan Use: Invest in her business
Repayment Term: 12 months - View details below
Lenders Repaid: Monthly
Currency Exchange Loss: Covered
Date Listed: Mar 13, 2009
Date Disbursed: Mar 11, 2009
Date Funded:Mar 13, 2009
Refund Date:Nov 13, 2009

About the Country

Country:Sierra Leone
Avg Annual Income:$903.00
Currency:Sierra Leone Leones (SLL)
Exchange Rate:3,080.0000 SLL = 1 USD



This is Fatu Jalloh, a local entrepreneur in Makeni City. Fatu sells cloth (cottons and lace), dishes, coolers, bowls etc. She wants a loan in order to strengthen her business. With a loan, she will be able to travel as far as neighboring Guinea to buy goods at a cheaper rate and make better profit in Makeni City.



Fatu is forty-four years of age, married to a driver and the two of them have four children together. All four of their children are in secondary school. Fatu was born in a village called Mala Mara, about twenty-five miles from Makeni City. She has been a businesswoman for over twenty years now.



This is the second loan Fatu is accessing from Kiva through SMT. The first loan helped Fatu in feeding the family, paying school fees and paying medical bills for the children and herself. With this loan, Fatu will feel comfortable and happy as it will promote both her business and her self esteem, she told me.


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Journal entries for Fatu Jalloh


Loan has been disbursed
 
Entrepreneur: Fatu Jalloh
Location: Makeni, Sierra Leone

Thank you for your loan. It has been disbursed to Fatu Jalloh 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 9 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
Mar 14, 2009
Comment on this entry

Loan Refunded
 
Entrepreneur: Fatu Jalloh
Location: Makeni, Sierra Leone

This loan has been refunded for the following reason:

This loan was posted in violation of Kiva’s policies regarding loan sizes. Kiva has a policy that the loan requests posted by partners cannot be over a certain USD amount. This amount varies in each region. In the West African region that SMT operates in the loan must be for less than 1,200 USD.

When SMT had this rule explained to them, it was not clear that Kiva could not partially fund a loan. In order for your connection with the borrower to be transparent, we want the entire loan amount to be posted to Kiva. Thus, we explain to partners that the loan request on Kiva should be for the total loan amount.

In the case of this loan, the client received a loan greater than the 1200 USD limit. During a recent audit, Kiva found this violation we are now refunding this loan. SMT and Kiva are working together to make sure this does not happen again!

SMT has vowed to double its efforts to meet the policies of Kiva’s and is even implementing new processes for journaling and borrower profile posting in an effort to be as transparent as possible!

We hope you will consider re-lending to another SMT client!


Posted by Stephanie Koczela, Kiva Staff, from San Francisco, United States
Nov 13, 2009
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Kiva Help Repayment Schedule for Fatu Jalloh

  Expected Repayments Actual Repayments Comments
June 2009 $115.00 $114.99 Repayment Received
July 2009 $115.00 $28.75 Repayment Received
August 2009 $115.00 $143.75 Repayment Received
September 2009 $115.00 $172.51 Repayment Received
October 2009 $115.00 $0.00 Repayment Received
November 2009 $115.00 $230.00 Repayment Received
December 2009 $115.00 Available Dec 1  
January 2010 $115.00 Available Jan 1  
February 2010 $115.00 Available Feb 1  
March 2010 $115.00 Available Mar 1