Joshua Timber Sales Group
Martin T. is the leader of this group. Martin owes a chain saw and trades timber at Pamlap, a village around the outskirt of Makeni. He has been in his current business for 6 years now. Martin was born in Pamlap. He is 40, married with 4 children. Two of his children are in secondary schools and the other two are not attending school. The boy dropped out of school and the girl had a teenage pregnancy. Martin now has the great task of caring for the pregnant girl and encouraging the remaining two to be steadfast in their schooling.
His previous loans with SMT have helped him a great deal. Out of the proceeds of his business, he could solve his numerous problems. He could send his children to school, attend to them when they are sick, feed and clothe them. Martin faces some few challenges in his business, like the lack of transportation for the timbers to the main roads, and enough capital to employ a larger labor force. Nevertheless, with the numerous loans he got from SMT, Martin has been able to buy himself a plot of land for the future construction of a house.
The other members of this group are now receiving loans from SMT as individual clients, while these two still remain together as a group. They have been with SMT for over 5 years now. These SMT loans are a great help to these entrepreneurs. These people's businesses have been growing as a result of the continuous access to loans they have been getting from SMT. But they still need new loans as it is the continuous access to financial services that can eradicate or reduce poverty.
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