Helping Unity Group
Siah herself did not go to school due to poverty. She and her family live in the Redlight Wood Camp community and she works in the Redlight market, the largest market in Liberia.
Siah’s business is the sales of general goods such as hardware and used clothes from a table at the market. She buys her goods from wholesalers and sells retail in the Redlight market. She has been running this business for more than 20 years and hopes to own a shop in the near future.
Siah started her business dealings with only 20 Liberian dollars that she used to purchase eight pieces of used clothes which she sold for 10 Liberian Dollars each. It was at that point that she grew the momentum to do business. She talks to her customers in a good manner in order to encourage them to continue buying from her. Siah needs this loan to purchase additional hardware and used clothes for resale. She dreams of giving her children a good education.
In the photo that accompanies this profile, Siah is the one holding the sign. Joseph F. is inset at lower right.
The Local Enterprise Assistance Program (LEAP) is Liberia's largest and oldest continuously operating microfinance institution with 13 branches across the country. Founded in 1994, the non-profit organization has survived periods of civil war and severe socio-economic hardship. LEAP seeks to help rebuild post-conflict Liberia through its group and individual loans to micro- and small-scale entrepreneurs, and puts emphasis on lending to women.
Note on LEAP:During routine partner monitoring, Kiva learned that LEAP's delinquency data may be understated due to technical problems with their reporting software. Because this report is key to our analysis of the risk of this partner, delinquency or default rates on loans to this partner may be higher than we expect. For further details, see LEAP’s partner page on Kiva.
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