On the left in the photo is Sally M., the leader of this group of five. Sally was born in Freetown forty years ago. She is married to a policeman and they now live in Magburaka town together with their four children. Their children are attending secondary and primary schools respectively.
Sally sells cooked rice as her main business and cigarettes, kerosene, mints, chewing gum, biscuits, matches and so on in a little kiosk, called here "Cigarette Box". Sally has been a businesswoman for four years now. With her share of this loan, she will invest in her cooked rice business by buying cooking materials like rice, palm-oil, onions, and fish in large quantity to reserve for daily use. And she will also use part of the loan to invest in her small 'Cigarette Box' business.
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