Alice S. Koroma says the secret to her success was a simple $25 loan provided through a microcredit program started by World Renew and its partner Christian Extension Services (CES) in Sierra Leone.
lice Koroma, the recipient of a $25 microloan, has been able to use the money in wonderful ways.
This microcredit program encouraging members to save together started with 10 women. Each contributed about $1.30 every month, says Mariama Charlie, a CES staff member who works in the community of Diang Kondembaia.
The women also received $25 loans, which they invested in various business ventures. The loans were repaid with interest over six months.
Alice, a young mother of three boys and two adopted girls, used her loan to buy items in the city of Kabala, transporting them back to sell. She also bought rice seed to plant on her land.
At the end of the loan period, Koroma repaid her loan easily. She also sold part of her rice harvest to pay for her children’s school fees and materials. Since then, she has taken out and repaid other loans.
“God used a simple $25 investment to change Alice Koroma’s life,” says Charlie.