R.c Masomgbo Group
With this loan, some of the teachers will start small businesses, and those who already run businesses will invest their loans into them. Some staff members will be using their loans to buy pieces of furniture, others to pay either for their children's education or their own further studies, while others will use their loans for home-building projects.
Fifty-five-year-old Alie A. S. (right) is the headmaster of the school, and has been a teacher for over 32 years. He was born in Masomgbo village, and is married with ten children – some of his children are in primary school, some in secondary school, and others are in college. Alie will use his loan to pay his children's school fees. Educating his children is a priority to Mr S., as these children will, in turn, assist him when he is old and retired.
About Salone Microfinance Trust (SMT)Salone Microfinance Trust (SMT) is Kiva’s oldest field partner in Sierra Leone. SMT began operations in 2002 as a microcredit program of the NGO Child Fund Sierra Leone under a USAID program to assist the reintegration of ex combatants back into their communities. Today, SMT offers group, agricultural, individual and salary loans to micro-entrepreneurs through six branches and one sub-branch in rural, urban, and peri-urban areas. By providing small loans and other financial services, SMT empowers poor clients to generate more income to help their families, improve their wellbeing, and create a more vibrant private small-business sector in Sierra Leone.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
About Sierra Leone
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Success!! The loan was 100% repaid