Patrick (pictured on the right) is the leader of this group. He was born in Makeni in northern Sierra Leone. He is fifty-five years of age and married with ten children. Two of his children are in secondary school, four in primary school, and four are now adults. He has been a businessman for the past thirty years now. He sells palm-oil by the gallon.
With this loan of Le 1,000,000, Patrick will buy about fifty to a hundred batters of palm-oil to add to his thirty batters that he is trading with today. (Five gallons make a batter.) He buys the palm-oil in a village called Yele that is about thirty-five miles from Makeni. He sells the palm-oil in Makeni. The price of a batter is not fixed. It ranges from Le 30,000.00 to 50,000.00 depending on the season and the availability of the palm-oil in the market.
The only challenge he is facing in his business is that of transportation. It is sometimes very difficult to get a vehicle to transport the palm-oil to Makeni. His greatest desire now is to be able to make higher profits to be able to meet some of the demands of his children, especially their education fees.
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.
About Sierra Leone
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