Friday, November 2, 2007

Microfinance Implementation Assement in Sierra Leone

Salad Grond Market is one of the business centers microfinance beneficiaries are found. It is located at the hart of Freetown, a highly busy point for business transaction. Interviewing some business Men and Women, their source of capital has been from the microfinance institutions around town. They started with a small amount (Le250,00 per person) and today can bost of huge capital. The lending procesure is group formation with a minimum of five persons per group, which serve as colateral incase any member refuse paying, the group will pay. Most of the women who took these loans are the bread winers of their home.
Rapayment schedule varies with different organisations. Some collect weekly while orthers collect on Bi-weekly bases.

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