Mathew Group

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Thank you for your loan. It has been disbursed to the Isatu Sesay group, consisting of Isatu Sesay, Fatu Kamara, Aminata Kalokoh by Salone Microfinance Trust (SMT), a partner of Christian Children's Fund in Sierra Leone. We are excited to watch this business grow. Over the next 10 months, Salone Microfinance Trust (SMT), a partner of Christian Children's Fund will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Hello Kiva Lenders.

As my Kiva Fellowship comes to an end, I made a special effort to give an earlier-than-usual journal update on this particular loan to Isatu Sesay’s group in Makeni, Sierra Leone. My brother David teaches 6th grade social studies in Lowell, Massachusetts. As part of a class project, David and his students read several Kiva Borrower profiles and selected three entrepreneurs to lend to in the developing world using funds raised at our mom’s recent Kiva-themed 60th birthday party. One of the Borrowers they chose, and rightly so, had to be from Sierra Leone, my placement location for this amazing Kiva Fellowship experience. I thought a journal update sent directly to their classroom would be a “cool” way to enhance their lesson in microfinance.

While it’s too early to visit Isatu or her group members and ask for a new photo or conduct an interview about the status of their recent loan, I thought I would supply you with some interesting information about the members of Isatu's group since becoming clients of Salone Microfinance Trust (SMT). As you may recall, the three members of this group loan are Isatu Sesay, Aminata Kalokoh and Fatu Kamara. Isatu received 1.2 million Leones (the national currency of Sierra Leone) or the equivalent of $400 USD. Aminata and Fatu were approved for 900,000 Leones, the equivalent of $300 USD. All three joined the SMT microloan program in May 2006.

When she was first approved for a business loan with SMT, Isatu Sesay’s business was valued at 800,000 Leones or $267 USD. Today, in her fifth loan cycle with SMT, her business is valued at 1.4 million Leones or $467 USD. Aminata’s business was valued at 600,000 Leones or $200 USD. Today, also in her fifth loan cycle, her business is valued at 1.8 million Leones or $600. Finally, Fatu’s business was also valued at 600,000 Leones when she joined SMT in May 2006. Today, her business is valued at 1 million Leones or $333. After proving the viability and strength of their businesses, SMT has increased their loan size from $100 to $300 or $400 today. This is great economic progress for the women in Isatu’s group.

Finally, I wanted to give you a look at the impact micro loans have had on all three members’ personal finances and their ability to generate income to support themselves and their families. Unfortunately, I am only able to post one image per journal entry. In the chart illustration, you’ll see Isatu’s sales, expense and net income figures. The net income amount is the profit or income Isatu’s business has generated or her family on a monthly basis. It’s a powerful indicator of the impact microfinance has on a person’s quest for survival in the developing world.

To David’s 6th grade class and to the rest of Isatu’s Kiva Lenders, I wish to thank you on behalf of Kiva and SMT for your contribution to Isatu and her group. I hope you’ve enjoyed your journal update and keep a look out for future update on Isatu and her group by a member of SMT’s staff in the future.

To view SMT loans currently being funded on Kiva, please visit:

http://www.kiva.org/app.php?page=businesses&partner_id=57&status=fundRaising&sortBy=New+to+Old

To view all SMT loans currently being paid back, please visit:

http://www.kiva.org/app.php?page=businesses&partner_id=57&status=All&sortBy=New+to+Old

To read more about Sierra Leone and Salone Microfinance Trust, please visit our blog site at:

http://fellowsblog.kiva.org/category/countries/africa/sierra-leone-africa/

Regards,

Adam Grenier

Kiva Fellow, Fall 2008

Sierra Leone