This entrepreneur owns a store selling phones and dishware in Kicukiro district and sells many types of mobile phones. Frank has many clients in his business, and now he is seeking his first loan worth 500,000 Rwf (US$900) from Vision Finance Company. He hopes to have many more clients after getting this loan, because he will increase the types of mobile phones in his store. Before this loan, Frank earned a monthly profit of US$366.
Frank has 2 years and 6 months of experience in this business. He starts his daily operations at 7:30 a.m. and closes at 9:30 p.m.
With the increased profit, he will reinvest in the business and he hopes to buy a house.
About Vision Finance Company s.a – Rwanda (VFC)
Vision Finance Company (VFC) was Kiva's first partner in Rwanda. Established in 1999, VFC is an affiliate of World Vision International. Since its founding, VFC has been committed to alleviating poverty in Rwanda by ensuring that poor people have access to credit to support business initiatives that will improve their life circumstances.
VFC has a broad set of products and services, offering Community Banking services for self-selected groups of 10-30 borrowers, Solidarity Group services for more experienced groups of entrepreneurs, and Individual Loans for customers who already have a small established business. Vision Finance is also among the very few financial institutions targeting farmers and providing agricultural credit options in Rwanda, where access to credit is critical to the success of agricultural enterprises.
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