Salt Sellers Group
This is the first loan these entrepreneurs are requesting from SMT/Kiva, each of them requesting a loan of Le 500,000. With this loan, they will be able to expand their businesses both in terms of size and quality. Consequently they can make better profit and improve their standards of living.
Isatu (right) is the leader of this group. She is thirty-five years of age and was born in Makeni City, in northern Sierra Leone. She is married to a vehicle driver and they have three children who are attending primary and secondary schools.
Isatu sells both in wholesale and in retail. She sells salt in Waterloo market and has been a businesswoman for more than twenty years. She will invest this loan into her business. A bag of salt usually costs her Le 50,000.
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.
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Success!! The loan was 100% repaid