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Honest Group
In this Group: Fatmata, Fatu, Fatmata P., Matilda, Salamatu
This group is named “Honest Group.” The members are all local entrepreneurs in Makeni, a city in northern Sierra Leone. This will be their first Kiva loan through SMT. With the help of this loan, they will be able to add more goods into their businesses, make more sales, and consequently improve their standard of living. They are, therefore, requesting a loan of SLL 500,000 for each member of the group to buy more goods to add to their businesses.

Their leader is 26-year-old Fatmata S. (on the right in the photo) who sells market-food – pepper, salt, magi (used to give sauce a sweet taste, like boullion cubes), rice, sugar, etc. for four years. Fatmata intends to invest her share of the loan in her business by buying the above mentioned items in wholesale quantities. This entrepreneur was born in Makeni. She is married to a diamond miner and they have two children who attend primary school.

Additional Information

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

  • $903
    Average annual income
  • 42
    View loans »
    Sierra Leone Loans Fundraising
  • $9,192,975
    Funds lent in using Kiva
  • 3,845.5
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Honest Group's $675 loan helped a member buy pepper, salt, magi, rice, sugar, etc. wholesale to add to her business.
100% repaid
Repayment Term
9 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 9, 2010
Listed
Apr 15, 2010
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2011