S.d.a. Primary School, Masanga Group
This is the first loan these teachers are requesting from SMT/Kiva Lenders. School staff from this institution, like many other school's staff within SMT’s operational areas, comes to SMT to apply for loans. With the help of these loans, they can accomplish certain tasks that they would otherwise not be able to accomplish with their mere salaries alone. But with the help of this loan, some can pay school fees for their children; others can use the loan to buy pieces of furniture, a plot of land, house-building materials, or invest in a business. At the end of each month, these teachers can repay the loan out of their monthly salaries. The institution’s bursar is directly responsible for deducting the repayment and paying SMT on their behalf.
James H. G., who is pictured on the right in the back, is the head teacher and leader of this group. Mr. G. has taught for 32 years now. The 56-year-old James was born in Koya village. He is married and has three children. One of his children is in secondary school, one is in college and the other is a school teacher. James is seeking a loan of SLL 2,000,000 in order to buy pieces of furniture like chairs, a bed, tables, a radio, etc.
(Attached to this photo are some snapshots of borrowers who were not able to be present for the group photo).
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