Update on Tamaraneh GroupGreetings are coming to you from members of the Tamaraneh group. They are very pleased to inform you that their previous Kiva loan has made a huge impact in their businesses and personal lives. With the help of that loan, they were able to add to their business inventories. This led to an increase in sales and profit. They used the profit they made to repay the loan, feed their children and send them to school.
Having repaid the previous loan successfully, they are requesting a new loan now, of SLL 700,000 for each member, in order to further improve on the quality and quantity of the respective businesses.
The featured leader, Aminata, is going to use her share of the loan to buy a large quantity of fish to add to her current stock of fish. Though Aminata faces a number of challenges in her business, such as times of poor sales, and fish do spoil within a very short period, she has made very many successes, as well. She is able to provide food for her children and support them in their educational pursuit. Aminata dreams of expanding her business, and thanks to Kiva loans, she is on the verge of achieving her dream.
Previous Loan DetailsAminata is the leader of this group of entrepreneurs. Aminata was born in Bombali district, in northern Sierra Leone forty-five years ago. She is married to a motor mechanic and the couple has four children, two of whom are attending primary and secondary schools. For many years now, Aminata has ... More from Tamaraneh Group's previous loan »
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
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Success!! The loan was 100% repaid
- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Jan 15, 2013
- Jan 23, 2013
- Currency Exchange Loss:
- Sep 17, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.