Alafia A Group
Update on Alafia A GroupFor the second time, Salone Microfinance Trust (SMT) is very pleased to present to you members of the “Alafia A” group. Their previous Kiva loan has been very helpful in boosting their respective businesses.
Having done repaying their last Kiva loan successfully, they are again requesting a new loan of 1,000,000 Sierra Leonean Leones (SLL) for each member in the group in order to further expand their respective businesses.
Featured leader, Fatmata, will again use her share of the loan to buy rice, palm-oil, tomatoes, pepper, onions, gari (food made out of cassava roots), etc. to add to her business.
Previous Loan DetailsSalone Microfinance Trust (SMT), a partner of Kiva in Makeni, northern Sierra Leone is very pleased to present to you members of the “Alafia A” group. These are small scale entrepreneurs who have come to SMT and Kiva lenders to seek a loan of 700,000 SLL for each member in order to invest in thei... More from Alafia A 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
About Sierra Leone
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Success!! The loan was 100% repaid
- Repayment Term
- 10 months (Additional Information)
- Repayment Schedule
- Nov 13, 2013
- Jan 7, 2014
- Currency Exchange Loss:
- Aug 17, 2014
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.