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Mena Group
In this Group: Fatmata, Marie, Aminata

Update on Mena Group

In the photo are members of the “Mena” group. They are small-scale businesswomen based in Makeni, a town in Northern Sierra Leone. This is not the first loan these entrepreneurs are accessing from SMT/Kiva lenders. With their previous Kiva loan, they were able to add more inventory to their respective businesses. This led to a great improvement in their businesses and lives through increased sales and profits. They were able to use the extra profit they made to send their children to school, feed and clothe them. Having repaid that loan successfully, they are requesting a new loan of 3,600,000 Leones for the entire group. With this new loan, they will be able to further expand their business inventories. Fatmata remains the featured leader of this group. Fatmata sells market food and will use her share of the loan to further increase her inventories.

Previous Loan Details

Pictured here are members of the “MENA Group" from Makeni, a city in northern Sierra Leone. They are small businesswomen who have come to SMT, a partner of Kiva, in order to ask for a loan of 800,000 SLL for each in the group. With this loan, they will be able to add more goods to their businesse... More from Mena 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
  • 7
    View loans »
    Sierra Leone Loans Fundraising
  • $8,977,275
    Funds lent in using Kiva
  • 4,349.6
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Mena Group's $850 loan helped a member to buy firewood, rice, onions, margi, cigarettes, etc. in large quantities to add to her business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2012
Listed
Nov 4, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013
This photo was used before for a previous loan for Mena Group. It was first posted on Kiva on Feb, 2011. Learn More