Lorenzo Govie Group
Lorenzo Govie school gets good grades at external exams (Basic Education Certificate Examination – BECE). However, Lorenzo Govie faces some major challenges like inadequate seating accommodation, lack of a library and a science laboratory.
Teachers and other professional workers in SMT’s operational areas do come to SMT to seek a loan for various reasons. Since salaries are generally small for workers in the country and especially so for teachers, some teachers use the loan to start a small business in order to complement their salaries and those who are already running small businesses invest their loans into their business. Some teachers use the loan to buy pieces of furniture, others to pay either for their children in their education or pay for themselves to pursue further studies. Others use their loans in home building projects.
Thirty-five year old Ansalen A. M. (right) is a teacher of this school. He was born in Pendembu, Kailahun district, southern Sierra Leone. He is married to a teacher and the two of them have five children who are between classes five to Junior Secondary School I (JSS I). Both Ansalen and Rev. Dommic Ado-Kangaig will use their loans to pay college fees for themselves. This loan will bring great happiness to these teachers as it will enable them to pursue further studies in University.
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