Hard Work Group
Kadie K. (left) is the leader of the group. She is forty-five years of age. She was born in Makeni City. Her husband is a welder and they have three children. One of their children is still in school and the older two have already graduated from college. Kadie has been a businesswoman for over ten years.
Kadie sells cooked rice and toys. She will use this new loan to expand her business by buying two bags of rice and two barters (five gallons make a barter) of palm oil. She will use these for her cooked-rice business. She will invest the balance of the loan in her toy business. A bag of rice costs Le 90,000 and a barter of palm-oil costs Le 60,000.
Kadie is a skilled and experienced businesswoman. At first, she was selling only cooked rice. Because of a drop in sales, she started selling toys – the first person to start a toy business in her neighborhood. Many of her neighbors then also began selling toys. Kadie therefore made a slight change in the toy business just to continue to maintain a competitive edge.
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