Hope Sisters Group
Update on Hope Sisters GroupGreetings are coming to you from members of the "Hope Sisters" group from Makeni, northern Sierra Leone. Members of the "Hope Sisters" group are very grateful to Kiva lenders for the loan they have just repaid. With the help of that loan, they were able to expand their respective businesses, made more sales and consequently improved their living conditions. Having repaid the loan successfully, they are again requesting a new loan in order to further improve their businesses. Featured leader Fatu, will again use her share of the loan to buy a large quantity of margi (used to give sauce a sweet taste), salt, onions, etc., to add to her current ones.
Previous Loan DetailsMeet the members of the “Hope Sisters” group from Makeni, a city in Northern Sierra Leone. They are all local entrepreneurs who have come to SMT, a partner of Kiva.org to apply for a loan of 800,000 SLL each. With the help of this loan, they will be able to expand their businesses, make more sale... More from Hope Sisters Group's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
This is a Group Loan
About Sierra Leone
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Success!! The loan was 100% repaid
- Repayment Term
- 12 months (Additional Information)
- Repayment Schedule
- Oct 4, 2012
- Nov 5, 2012
- Currency Exchange Loss:
- Oct 18, 2013
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.