Bdec Hec Group
These hardworking and dedicated teachers have come to SMT, to seek a loan of SLL 3,000,000. This is not the first SMT loan that these teachers have benefited from: previous loans have made a lot of improvements in the lives of these borrowers.
Helen F. (pictured second from the right) is the headmistresses and leader of this group of teachers. She is age forty-nine and has been in the teaching profession for twenty-four years now. She is married to a lecturer and they have four children, all of whom are in college. With the help of this loan, Helen and her colleague teachers will be able to pay school and college fees for their children.
Attached to this photo is a snapshot of a borrower who was 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