Check out some available loans that are similar to this one!
Fatmata M.'s Group
In this Group: Fatmata M., Samiatu , Melrose , Rugiatu , Hassan M., Issa Bundu, James Yanson, Kadiatu , Zainab Mariatu, Kadiatu Kombay, Cecilia Ballay, Saidu Brima, Abie
Pictured here are teachers of a primary school located in Makeni, in northern Sierra Leone. This group of teachers has come to SMT, a Kiva local field partner, to request a loan of SLL 24,500,000. With the help of this loan, each of these teachers will be able to buy or invest in things that with their salaries alone, they cannot buy or invest in. For example, some are going to use this loan to buy a plot of land, some will use it to buy house building materials, some will invest in small scale businesses, others will use it to pay school fees for their children, etc. etc. At the end of each month, they can easily repay the loan using their monthly salaries. It is their school’s bursar who is directly responsible for doing the deductions and making the repayments on their behalf.

Fatmata is the featured leader of this group of teachers. A native of Makeni, the 48-year-old is married to a retired teacher and together the couple has children who are attending primary and secondary schools. Fatmata has requested a loan of 3,200,000 SLL in order to pay school fees for her children.

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.

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.

Tags

About Sierra Leone

  • $903
    Average annual income
  • 16
    View loans »
    Sierra Leone Loans Fundraising
  • $9,066,925
    Funds lent in using Kiva
  • 4,328.0
    Sierra Leone Leones (SLL) = $1 USD