Vincent has requested a loan of 500,000 Rwandan francs (FRW). He and another client, Chantal Uwingabire, share a shop together and are looking to expand their business by purchasing an electric sewing machine. The beautiful foot-powered sewing machines they currently use at the shop will withstand the frequent electricity shortages, but are unable to create the classic "zig-zag" stitch of quality, modern clothing. With the new machine, he expects to be able to increase business, working faster and creating better quality garments.
With the profits from the loan, Vincent hopes to pay school fees for his children and start some personal savings. This is Vincent's first loan with Vision Finance Company.
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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