These are Sallay K., Marie L., Yeabu K., and Mohamed J.. They are business people in Magburaka town, selling different items. Sally is the group's leader and sells cottons and shoes. She travels as far as neighboring Guinea to buy the goods she sells. Sally is 38 and a widow with four children. She has been in her business for the past ten years. Previous loans have helped Sally a lot. Her business has grown both in size and quality. She is expecting this loan to further enlarge her business.
Marie sells palm-oil and Yeabu sells market food in a small stall on her veranda. Mohammed J. sells firewood and local produces. This will be their third loan from Kiva through SMT. Previous loans made great impacts in their lives. Their business capital increases to a new height each time they get a loan from SMT. They are seeking another loan to keep strengthening their businesses and livelihoods. They are requesting a loan of Le 3,200,000.00. With this loan, they will be able to buy more goods to add to their businesses.
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.
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Success!! The loan was 100% repaid