Finance Salone Ltd., a Sierra Leonean non-profit microfinance institution (MFI), is expected to receive a $700,000 loan from the Microfinance Investment and Technical Assistance Facility (MITAF). Established in 2001, Finance Salone had total assets of $646,000 and a gross loan portfolio of $526,000 at year end 2004, reaching over 8,000 borrowers nationally. MIX Market, the World Bank information clearing house on microfinance, recognizes only two MFIs in Sierra Leone. Although further information is not publicly available, MIX also reports that Finance Salone had been expected to transform into a “foreign-owned for-profit” company in 2004.
Continue reading “Sierra Leonean Microfinance Investment and Technical Assistance Facility to Loan $700,000 to Finance Salone for Microcredit”
Similar Posts:
- MICROCAPITAL BRIEF: IDB Invest, Sura Investments Channeling $25m in Loans to SMEs, Mid-market Firms in Colombia
- MICROCAPITAL BRIEF: Opportunity EduFinance Partners with 7 FSPs to Invest in Education in Africa, India
- MICROCAPITAL BRIEF: Tunisie Leasing and Factoring Borrows $7.5m from BII-Symbiotics Green Bond Program for SMEs in Tunisia
- SPECIAL REPORT: Partner with Agents for Impact, and We’ll Drive Impact Together!
- MICROCAPITAL BRIEF: EIB Lending $22m to Sahanala to Boost Sustainable Fisheries, Agricultural Value Chains, Mechanization of Farms in Madagascar
