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Lion Group
In this Group: Ibrahim, Zainab, Safiatu, Marie, Isatu

Update on Lion Group

Thanks to the first loan that you helped members of the "Lion" group with, their businesses have seen a lot of growth over the months. They were able to add more goods to their respective businesses. This thus led to an increase in sales and in profit. As a consequent, these guys' living conditions improved to a new height.

Having done repaying their previous loan successfully, they are again requesting a new loan in the same amount as the previous, i.e. 500,000 Sierra Leonean Leones for each. This will again enable them to further increase their business inventories. Ibrahim will this time buy only palm-oil. But this time, he will be able to buy a larger quantity than he bought previously.

Previous Loan Details

Ibrahim T. (first row left) is the leader of this group of entrepreneurs. Ibrahim was born in Yele village about thirty years ago. He is married to a businesswoman. The couple has two children who are not yet of school-going age. For over six years, Ibrahim has been selling market food – pal... More from Lion Group's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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
  • 41
    View loans »
    Sierra Leone Loans Fundraising
  • $9,192,975
    Funds lent in using Kiva
  • 4,320.0
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Lion Group's $600 loan helped a member to buy a larger quantity of palm-oil than previously.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 11, 2012
Listed
Jul 28, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 21, 2013
This photo was used before for a previous loan for Lion Group. It was first posted on Kiva on Jan, 2011. Learn More