C5524 Tuzamurane Group
The members of this group seek to improve their businesses and to increase their sales using the capital from this loan. This is their first loan from Kiva lenders via Vision Finance Company. With this loan, these members plan to carefully source and then purchase a greater quantity and variety of goods to sell. The group believes that this will satisfy the needs of their customers as well as earn more profit for Tuzamurane. With this profit, they will reinvest in their businesses so that in the future they can rely on equity and cash on hand for business expansion. Also, they all plan to continue taking care of their families and loved ones and build secure futures for them.
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.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid