Update on Boston A.Again, meet Boston, a small scale businessman from Kenema, a city in eastern Sierra Leone. He has just completed repaying his last Kiva loan of SLL 3,000,000. Having finished repaying that loan very successfully, he is applying for a new one of SLL 5,000,000. This will further enable him to buy a wide variety of drugs and in a larger quantity. Even though Boston faces a lot of challenges in his business, such as finance, he has however managed to erect a drugstore for himself where he now sells. His greatest dream is to become a great entrepreneur and a philanthropist.
Previous Loan DetailsBoston is a 35-year-old businessman in Kenema city, Eastern Sierra Leone. He sells medicines and has been doing so for 5 years now. A native of Kailahun town in Eastern Sierra Leone, Boston is single with 2 children who are not yet of school age. Boston has requested a loan for 3,000,000 Sierra… More from Boston A.'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.
About Sierra Leone
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Success!! The loan was 100% repaid