Abdul (right) is the leader of this group. Abdul was born in Makeni in northern Sierra Leone. He is forty-five years of age, a husband with four children: two in secondary school, one in primary school. The youngest is not of school age yet. Together, he and his wife sell second-hand bed sheets. He has been a businessman for over fifteen years.
With this loan of Le 1,000,000, Abdul will buy about five bales of second-hand bed sheets to add to his business. He travels to Freetown, a distance of 390 miles round trip, to buy the bed sheets. A bale of second-hand bed sheets costs between Le 220,000 and Le 250,000. The fare to and from Freetown is Le 30,000 and a single bale will cost him Le 3,000 to transport back to Makeni.
The only challenge Abdul is facing in his business is that of occasional slow sales. The people of Makeni struggle to generate the discretionary income necessary to purchase fresh bed sheets from Abdul. Also, a challenging rain or dry season can also impede sales. Apart from this, business is going well for him and he loves doing it. His goal now is to be able to buy a plot of land so that he can start building a house.
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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