Zainab is the leader of this group of entrepreneurs. Zainab was born in Magburaka town, 27 years ago. She is married to a police officer and the couple has 4 children, 3 of whom are in primary and tertiary institutions. For many years now, Zainab has been selling ready-to-wear-clothes. She and her group members have come to SMT, a partner of Kiva.org base in Makeni, Northern Sierra Leone to request for a loan of 1,200,000 Sierra Leonean Leones for each in order to expand on the sizes and qualities of their respective business. With a lot of inventories in, their business will attract many customers, sales will improve and profit margin will also increase. Consequently, they are being empowered to better look after themselves and children. Zainab is going to use her share of this loan to buy a wide variety of clothes and in larger quantity to add to her current ones.
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.