C2141 Twuzuzanye Group
Fortune works hard for her family. She is also the group representative of this group called Twuzuzanye in the local language. This group contains six members; most of them sell green bananas although one sells vegetables.
Fortune and her group are requesting a loan from Kiva lenders via vision Finance Company for the purpose of growing their businesses. Each of them has a target of increasing their business through purchasing more various products for sale. Fortune and her group have businesses that are known in the market where their businesses are located.
Fortune has been in her operation of selling vegetables for four years. Her business is open two days a week on Wednesdays and Fridays; the hours of her business are from seven in the morning to eight in the evening.
With this loan, Fortune and her group expect to earn more profits which will allow them to save money for the future.
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