Rec Infant-Hastings Group
This will be the first loan for the teachers from SMT/Kiva. Because government salaries for teachers are usually very small, the SMT/Kiva loans are very much helpful to these teachers. With these loans, some of the teachers will invest in a side business to supplement their teaching salaries. Others will use it to buy pieces of furniture like a bed or chairs, buy a piece of land on which to build a house, or purchase building materials. Others will use the loan to pay for college fees to pursue further studies, or school fees for their children. Gradually, with their monthly salaries, these teachers will repay their loans.
Gifty M. N. (fifth from right) is the deputy head teacher of the R.E.C. Primary School for Infants. She was born in Hastings, about twenty-three miles from Freetown, which is the capital city of Sierra Leone. She is single with four children. One of her children is already an adult, two are in secondary school, and one is still in primary school. She has been a teacher for 31 years now. Gifty will use this loan to buy home building materials – bundles of corrugated iron roofing, bags of cement, and sand. This loan alone can not build her a house, but combined with her savings and subsequent loans she hopes to get from SMT/Kiva, she believes she will be able to build herself the house she so desires. With a house, she will no longer be paying rent and will be a very happy woman together with her family.
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 Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
About Sierra Leone
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Success!! The loan was 100% repaid