R.e.c Primary School, Bassa Town Group

Status: Paying Back

$2,975
Loan Request
Pre-Disbursed : Mar 20, 2009
Listed: Mar 23, 2009
Funded: Mar 23, 2009
90% repaid

About the Country

Country:Sierra Leone
Avg Annual Income:$903
Currency:Sierra Leone Leones (SLL)
Exchange Rate:3,010.0002 SLL = 1 USD


In this Group:
Irene M. Conteh, Mabel R. John, Margaret B. Fisher, Humu H. Barrie, Mary C. Macarthy, Millicent Lava, Aminata Sangarie, Jatu Ramadan Cole, Henry B. Vincent, Victoria B. Buck, Theresa Koroma

About the Loan

Location: Waterloo, Sierra Leone   Repayment Term: 12 months
(more info)
Activity: Personal Purchases   Repayment Schedule: Monthly
Loan Use: To supplement their salaries   Currency Exchange Loss: Covered
      Default Protection: Not Covered
These are teachers of the R.E.C. Primary School, Bassa Town Group. R.E.C. Primary School Bassa Town was founded in 1945 by the Rural Council to give education to the children of Waterloo. R.E.C. Bassa Town is divided into Lower Primary School (Classes I – III) and Upper Primary School (Classes IV – V). The Lower and Upper schools have a total number of 731 pupils and a total number of twelve staff. R.E.C. Primary school is proud that their pupils are able to make good grades at the National Primary School Exams (NPSE).

Over the years, the school has grown so much that it now lacks adequate classrooms. Staffing is also a problem facing the school. It lacks enough trained and qualified teachers to meet the growing number of pupils.

This will be the first loan for teachers of the B.E.C. Primary School from SMT/Kiva. This loan will certainly be of immense help to these teachers. Since salaries are usually small in Sierra Leone, especially for people in the teaching profession, they could not use their salaries to buy or do anything great. But with a loan, they can now buy or do something big and then repay over a period of time. Some of them will use it to begin or continue building a house, others to pay either for themselves to pursue further studies or pay for their children’s education. Some will use it to invest in businesses in order to complement their monthly salaries. Still others will use it to buy furniture.

Irene M. Conteh (back row third from left) is the head teacher of R.E.C. Lower Primary School. She was born in Waterloo, twenty miles (thirty-two km) from Freetown. She is fifty years old and married with four children. Two of her children are grown, one is in college and the other is in Junior Secondary School III (JSS III). She has been a head teacher of this school for over five years. Irene will invest this loan in her business. It will enable her to expand her business. She sells cigarettes, sugar, soft drinks, rice and so on. With the loan, she will be able to buy these items in wholesale.




About Group Loans
In a group loan, each member of the group receives an individual loan but is part of a group of individuals bound by a group guarantee. Under this arrangement, each member of the group supports one another and is responsible for paying back the loans of their fellow group members if someone is delinquent or defaults. Learn more

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Journal entries for R.e.c Primary School, Bassa Town Group


Loan has been disbursed
 
Entrepreneur: R.e.c Primary School, Bassa Town Group
Location: Waterloo, Sierra Leone

Thank you for your loan. It has been disbursed to R.E.C Primary School, Bassa Town Group, consisting of Irene M. Conteh, Mabel R. John, Margaret B. Fisher, Humu H. Barrie, Mary C. Macarthy, Millicent Lava, Aminata Sangarie, Jatu Ramadan Cole, Henry B. Vincent, Victoria B. Buck, Theresa Koroma 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 10 months of this loan, 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.


Posted by from Waterloo, Sierra Leone
Mar 24, 2009
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Kiva Help Repayment Schedule for R.e.c Primary School, Bassa Town Group

  Expected Repayments Actual Repayments Comments
June 2009 $297.50 $297.49 Repayment Received
July 2009 $297.50 $74.38 Repayment Received
August 2009 $297.50 $371.88 Repayment Received
September 2009 $297.50 $446.25 Repayment Received
October 2009 $297.50 $297.50 Repayment Received
November 2009 $297.50 $297.50 Repayment Received
December 2009 $297.50 $297.50 Repayment Received
January 2010 $297.50 $297.50 Repayment Received
February 2010 $297.50 $297.50 Repayment Received
March 2010 $297.50 Available Mar 1