Church Of God Group
Teachers are among the lowest paid workers in Sierra Leone. Because of this, many of them find alternative means of making a living. Some engage in business and agriculture while others organize extra classes for the pupils (a practice the government is trying to abolish). These teachers are seeking a loan in order to embark on meaningful projects. Then out of their monthly salaries, they gradually repay the loan.
This group of teacher are seeking a loan from SMT for the second time and for the first time from Kiva lenders. (Charles S. K. was not able to be present for the original photo, but an individual shot has been added in the corner of the frame).
Thomas is head teacher at the school and the leader of the group. He is forty-eight years old. Thomas is married and has 5 children, all of whom are currently attending school. With the help of this loan, he will be able to continue paying the school fees for all of his children, as will many other teachers.
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.
About Sierra Leone
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Success!! The loan was 100% repaid