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Franklyn's Group
In this Group: Franklyn , Foday Thomas, Francis M. , Paul S. , Muctarr , Bakindeh
Pictured above are teachers of a technical Vocational Institute in Makeni, a city in northern Sierra Leone. This group of teachers have come to SMT, a partner of to apply for a loan of 12,800,000 Sierra Leonean Leones for the entire group. Teachers and other monthly staff workers do come to SMT to apply for loans. With the help of these loan, they can meet certain financial challenges that their salaries alone cannot tackle. They usually use these loans to pay school fees for their children, invest in their businesses, buy plots of land or house building materials, etc. And at the end of each month, they repay the loan using their monthly salaries. Their finance officer is directly responsible for making repayments on their behalf.

Muctarr is the leader of this group of teachers. Muctarr is forty-five years of age. A native of Rokulan village, Muctarr is married to a teacher and they have four children attending primary and secondary schools respectively. Muctarr has served in the teaching profession for 28 years now. With his share of this loan, he is going to buy house building materials like iron corrugated zincs, bags of cements, iron rods, etc. in large quantity in order to construct a family dwelling house.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Sierra Leone

  • $2,100
    Average annual income
  • 46
    View loans »
    Sierra Leone Loans Fundraising
  • $10,068,550
    Funds lent in using Kiva
  • 4,310.0
    Sierra Leone Leones (SLL) = $1 USD
A portion of Franklyn's Group's $2,975 loan helped a member to buy house building materials like iron corrugated zincs, bags of cements, iron rods, etc. in large quantity in order to construct a family dwelling house.
Repayment Term
12 months (Additional Information)
Repayment Schedule
May 16, 2012
Jun 11, 2012
Currency Exchange Loss:
Jul 11, 2012