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Zainab's Group
In this Group: Zainab , Momodu , Williams , Alhaji , Abdallah , Sulaiman , Richmond A., John Philip , Oyolah , Edmund M., Ramatu Baby , Daniel P. , Idrissa A. , Aiah J.k. , Fatmata , Jeremiah L. , John S.
Salone Microfinance Trust (SMT), a partner of Kiva in Makeni, northern Sierra Leone, is very pleased to present to you teachers of a leading secondary school in Makeni. Seventeen out of the 70 staff of this institution have come to SMT to apply for a loan of 15,440,000.00 Sierra Leone leones (SLL). School staff from this institution and indeed, from many other institutions in different walks of life within SMT’s operational areas, come to SMT to apply for loans. These loans are helpful as they can allow them invest in something that their salaries alone cannot do. For example, some of them may buy a plot of land, others will buy house-building materials, some will buy household furniture, some will use the loan to pay school fees for their children, while others will use the loan to invest in his/her business. At the end of each month, the institution’s bursar deducts the repayment from their salaries and repays SMT on their behalf.

Zainab (third from left) is a senior teacher at the school and leader of this group of teachers. The 47-year-old woman is married and has five children. She has been in the teaching profession for 26 years. A native of Makeni, Zainab backs her teaching profession with some trading. She supplies cosmetics – body sprays, body powders, etc. Zainab has requested this loan in order to buy more goods to add to her business. She will use her share of the loan to buy more cosmetics.

Additional Information

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

  • $2,100
    Average annual income
  • 13
    View loans »
    Sierra Leone Loans Fundraising
  • $9,574,925
    Funds lent in using Kiva
  • 4,375.0
    Sierra Leone Leones (SLL) = $1 USD