Born in Port Loko, northern Sierra Leone, the 48-year-old Rugiatu is married to an Imam and they have nine children – five in secondary school, one in primary school. The rest are now grown-ups and on their own. Since childhood, Rugiatu has been a businesswoman. Currently, she sells palm oil (the most popular cooking oil), rice, foofoo (food made out of cassava roots), bananas, 'gari' (junk food also made out of cassava roots) and as many more locally produced items as she can lay hands on. With her share of this loan (SLL 800,0000), Rugiatu will buy locally produced goods like the ones mentioned above and any other lucrative locally produced goods available in the market.
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