Pictured above is a staff member of a sugar producing company in Sierra Leone. He has come to SMT, a partner of Kiva.org, to apply for a loan of SLL 3,000,000 in order to meet his most immediate and most pressing financial needs. And the end of each month, he can easily repay the loan, using his monthly salary. It is the company’s financial manager who deducts his repayments and repays SMT/Kiva lenders on his behalf.
He is Mohamed, a 51-year-old man from Portloko, in northern Sierra Leone. Mohamed is married to a businesswoman and the two of them have five children, four of whom are attending primary school. Mohamed has worked in the sugar company for 10 years. In addition to his work at the company, he is also a businessman. He produces and sells 'gara' cloth (locally dyed cloth).
With the help of this loan, Mohamed is going to buy 'gara'-producing materials like ink, caustic soda, powder, etc. for the production of a larger quantity of 'gara' cloth for sale.
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.