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Foday T.'s Group
In this Group: Foday T., Allieu
Pictured above are teachers from a secondary school in Kenema, a city in eastern Sierra Leone. These teachers have come to SMT, a partner of Kiva.org based in Makeni, northern Sierra Leone, in order to seek a loan of 4,500,000 Sierra Leonean Leones (SLL) to meet their immediate financial challenges. At the end of each month, they repay the loan using their monthly salaries. The bursar at their school is directly responsible for making the repayment on their behalf.

Foday is the leader of this group. Born in Buedu village in eastern Sierra Leone, Foday is married to a trader and the couple has four children. Foday has been a professional teacher for 10 years now. He has requested this loan in order to buy building materials like corrugated iron, sand, cement, rods, nails, etc. to use to construct a house for his family.

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

  • $2,100
    Average annual income
  • 54
    View loans »
    Sierra Leone Loans Fundraising
  • $9,327,250
    Funds lent in using Kiva
  • 4,310.0
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Foday T.'s Group's $1,050 loan helped a member to buy building materials like corrugated iron, sand, cement, rods, nails, etc. to use to construct a house for his family.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 20, 2012
Listed
May 21, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 18, 2013