Adama is the leader of this group of entrepreneurs. Adama was born in a village called Sanda, in northern Sierra Leone, about 25 years ago. She is married to a trader and the couple has three children. Two are in primary school and one is not of school-going age. For many years now, Adama has been selling market food – margi (used to give sauce a sweet taste), oil, onions, sugar, fish, and so on. This is the second loan that Adama and her group members have applied for from SMT and Kiva lenders. With the help of this loan, they will be able to further expand their businesses, make more sales, and consequently improve their living conditions. Adama will use her share of the loan (800,000 SLL) to expand her business; she will buy the above mentioned items in bulk to add to her business.
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.