This is Memunatu K. D., age forty-two. Memunatu was born in Freetown. She currently resides in Waterloo where she is married and runs her business. Her husband is a monthly wage earner. They have two children – one in Junior Secondary School III and the other in class II. Memunatu is a dealer in cosmetics and boutique stocks – she sells clothes, trinkets, shoes, bags, body beauty creams etc. She has been in business for over twenty years now. This will be her very first loan from SMT, a partner of Shine on Sierra Leone in Waterloo. She is requesting a loan of Le 4,000,000 to help her strengthen her business.
With this loan she receives from SMT/Kiva, Memunatu is expecting a vast improvement in her business and increased profit. The increased profit will be reinvested into the business, some will be saved for future use and the remainder will be used to support her husband in providing food for their household and paying school fees and other school related charges for the children and meeting other daily financial challenges.
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.