Philip T.'s Group
Forty-nine-year-old Philip is the leader of this group of teachers. Philip was born in Segbwema in Eastern Sierra Leone, he is married and has six children, five of whom are in schools. Philip is a teacher and has been in the teaching profession for fifteen years now. He has requested this loan in order to buy house building materials – bags of cements, iron corrugated zinc, nails, etc., for the construction of a house.
School staff from this institution, like many other schools staff within SMT’s operational areas, comes to SMT to apply for loans. With the help of these loans, they can accomplish some certain tasks that they would otherwise have not being able to accomplish with their mere salaries alone. But with the help of this loan, some can pay school fees for their children; others can use the loan to buy pieces of furniture, a plot of land, house-building materials, or invest in business. At the end of each month, these teachers can repay the loan out of their monthly salaries. The institution’s bursar is directly responsible for deducting the repayment and pays SMT on their behalf.
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
About Sierra Leone
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Success!! The loan was 100% repaid