No Joke Group
With a loan of SLL 500,000, they will each be able to add more stock to their business and make more sales and more profit. Consequently, they will be able to improve their standard of living by sending their children to school and by feeding and clothing them.
Kadiatu T. is the leader of this group. She was born in Magburaka, thirty-five years ago. She is married to a businessman and has three children, all attending schools: one in primary school and two in secondary school.
Kadiatu sells eggs and bottled water which she has been doing for many years now. With her share of the loan, she will expand her business by buying more eggs, plastic bags and palm-oil (the most popular cooking oil).
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