Wcsl Primary School, Binkolo Group
With this loan, some of these teachers will invest in business, others to pursue further studies, others will use it to pay their children’s school/college fees, others to buy house-building materials and others will use it to buy pieces of furniture.
Augustine C. K. (left) is the head teacher at the school. Augustine was born in Binkolo village, about seven miles from Makeni, some 52 years ago. He is married and they have three children. One of his sons is a police officer and the remaining two have just sat for the West Africa Senior Secondary Schools Examinations (WASSE). He has been a teacher for 31 years. Augustine will use this loan to pay college fees for his children once they enroll into university.
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