A loan helped to purchase more palm oil to increase her business.
Meet 40-year-old Salamatu from Waterloo 2, Sierra Leone. She is married and has three children between the ages of seven and 25 years. Three of them are currently attending school.
Salamatu runs a palm oil business. She has been in this business for the past 15 years, working 10 hours per day and six days a week. Her other source of income is from her husband, who is also a trader. Salamatu says her business is progressive.
Palm oil is red in color and is the cornerstone of Sierra Leonean cuisine. It is used as the base for spicy stews. Good quality oil is said to be high in antioxidants. The oil is usually sold in yellow plastic cans.
Borrowers like Salamatu save money when they buy their oil in bulk. She requested this loan from Brac to purchase more palm oil to increase her business. The extra income arising from this loan will help her to pay fees and shelter for her children.
In the future, Salamatu wants her business to expand into a palm oil store. She thanks Brac and Kiva community for their support.
This loan is special because:
It provides women with access to funding in areas where there are limited alternative source of finance.