Kadie C. (left in the photo), the leader of this group, is 32 years old. She was born in the eastern town of Kono, Sierra Leone but in 1992 the rebel war brought her to the town of Makeni, where she eventually found her soul mate. She has one child who is still not of school age. Her husband is a principal in one of Makeni’s secondary schools.
Kadie has been in business for five years now, previously selling “gara lappers” (locally dyed clothes) as her primary business, but with consistent loans from Kiva through SMT, she has diversified. Now she sells both a locally made drink called Bitter Kola and bottled water. She decided to incorporate this new business because the new products sell faster, which enables her to repay her monthly loan on time.
She travels to Freetown (a 390 mile return trip) to buy the cartons of Bitter Kola drinks she sells. With the loan she is requesting, Kadie will be able to buy as many as 44 cartons to add to the 20 cartons she is currently trading, thereby resulting in greater profit given the transportation costs each trip incurs.
Kadie uses part of her profits to repay her loan, reinvests some in her business and uses the remaining to help take care of her family.
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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Success!! The loan was 100% repaid