C2256 Abadacogora Group
Josephine is 33 years old and is married with five children aged between 1 and 20. Her husband doesn't work and for that reason she works hard so that she provides all her children’s basic needs.
Josephine has an experience of seven years in her business of selling soft drinks and cakes in her region. She employs one person as a helper and runs her daily activities from 5 in the morning to 9 in the evening every day.
Josephine and her group are now requesting a loan from Kiva lenders via Vision Finance Company in order to expand their businesses through purchasing more products. This loan will help them to satisfy the demands of their clients.
Josephine will be using the extra money expected from her expanded business, to reinvest in her business and to save money for the future of her family.
More information about this loan
This loan helps low-income entrepreneurs in Rwanda grow their businesses and, ultimately, to support their families. These loans typically serve very poor and rural clients and particularly women, who often lack access to the traditional collateral needed for a loan. VFC serves these entrepreneurs through both individual and group loans and provides them with financial education and tools for them to save money for the future. By supporting this loan, you are helping Rwandan entrepreneurs build the means to support their families and improve their lives.
About Vision Finance Company s.a – Rwanda (VFC)Vision Finance Company, soon to be known as Vision Fund Rwanda (VFR), is the microfinance subsidiary of World Vision and is one of the largest microfinance institutions serving rural underprivileged communities in Rwanda, many of which do not have access to formal financial services.
VFC serves people and communities that are economically productive but low-income, especially in very rural areas. This includes small business owners and salary earners who are looking for opportunities to provide better lives for their families and a promising future for their children.
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