C2361 Abishyizehamwe Group
Emelyne is the representative of a group which is called Abishyizehamwe in the local language. This group contains five members, all of them women.
Emelyne owns a small shop selling various styles of clothes. She is serious woman in her business and is organized as well. She has an experience of one year in her daily activities. Her small shop is open from eight in the morning to five in the evening, every day except Sunday.
Emelyne and her group are requesting a loan from Kiva lenders via Vision Finance Company in order to expand their businesses through purchasing more products.
With this loan Emelyne will be able to employ one person from her community as the business will be expanded. This will attract more customers which will help her to obtain more profits. With the profits she expects to earn, she will be able to save money for the future and to pay school fees for her children.
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