Hope To God Group
The members are petty-business women who have come to SMT, also a Kiva partner, in order to seek a loan of SLL 1,800,000 for the group. With this loan, they will be able to add more goods to their businesses, attract more customers, make more sales and profit, and consequently improve their living conditions.
The leader of this group of entrepreneurs is Kadiatu C. who was born in a place called Magbele about forty years ago. She is married to a farmer and has six children of whom one is in secondary school and the rest are no longer attending school.
For seven years now, Kadiatu has been selling fertilizers, ginger, pepper and rice. With her SLL 1,000,000 share of this loan, she will expand her business by buying more fertilizers, ginger, pepper and rice to add to her current stock.
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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