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Wan Word Movement Group
In this Group: Aminata, Hawanatu, Mbalu

Update on Wan Word Movement Group

Members of the “Wan Word Movement" group are grateful to Kiva lenders for the previous Kiva loan that they received. With the help of their just concluded loan, these entrepreneurs were able to expand on the sizes and qualities of their respective businesses. This led to an increase in sales and project-to-sale-margins.

Having finished repaying their last loan successfully, they have reapplied for a new loan of 1,500,000 Sierra Leonean Leones for each. This new loan will further enhance their respective businesses.

Featured leader Aminata will again use her share of the loan to buy market food: onions, salt, pepper, rice, Maggi (used to give sauce a sweet taste), etc. in bulk to add to her business.

Previous Loan Details

Salone Microfinance Trust (SMT), a partner of Kiva.org in Makeni, in northern Sierra Leone, is very pleased to present the members of the “Wan Word Movement” group. They are small-scale entrepreneurs who have come to SMT/Kiva lenders to seek a loan of 1,500,000 Sierra Leonean leones (SLL) each in... More from Wan Word Movement 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

  • $2,100
    Average annual income
  • 54
    View loans »
    Sierra Leone Loans Fundraising
  • $9,327,250
    Funds lent in using Kiva
  • 4,320.0
    Sierra Leone Leones (SLL) = $1 USD

Success!! The loan was 100% repaid

A portion of Wan Word Movement Group's $1,050 loan helped a member to buy onions, salt, pepper, etc. to add to her current stock.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 5, 2013
Listed
Feb 26, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014
This photo was used before for a previous loan for Wan Word Movement Group. It was first posted on Kiva on Mar, 2012. Learn More