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Frederick Boima's Group
In this Group: Frederick Boima , Martin Umaru , Jestina Mamie , Tamba John , Edwaard A. , Mary , James , Murphsion
Salone Microfinance Trust (SMT), a partner of Kiva.org in Makeni, northern Sierra Leone, is pleased to present to you this group of borrowers from the Eastern Polytechnic school in Kenema, a city in eastern Sierra Leone. Staff of this institution have come to SMT for a loan of SLL 9,500,000 in order to improve their standard of living. Some of them will use this loan to buy house building materials, some to buy pieces of furniture, others to pay school fees for their children, and so on. At the end of each month, the institution’s bursar is directly responsible to deduct their repayment amount and pays SMT on their behalf. This is the first loan that this institution has applied for from SMT/Kiva lenders.

Frederick Boima K. is the leader of this group. The 43 year-old Frederick was born in a village called Dawa, in eastern Sierra Leone. He is a teacher and has been in the teaching profession for 8 years. Frederick is married and has 5 children – 2 in primary school, 2 in secondary school and 1 in college. Frederick has requested this loan in order to pay college fees for his child and to invest the remainder in business.

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
  • 14
    View loans »
    Sierra Leone Loans Fundraising
  • $9,076,200
    Funds lent in using Kiva
  • 4,245.0
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Frederick Boima's Group's $2,250 loan helped a member to pay college fees for his child and invest the remainder in business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2011
Listed
Feb 23, 2011
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2012