C2168 Amahoro Group
Madi is a businessman who works hard so that he can provide all the basic needs of his family. He puts that hard work into a business he owns selling various styles of clothes. In particular, Madi is a new entrepreneur because he has an experience of only two years but he is well-known in his business and well-organized. The hours of his business are from seven in the morning to four in the evening, every day except Saturday.
Madi is the leader of this group of six members. He and his group are requesting a Kiva loan via Vision Finance Company for the purpose of expanding their businesses. Through this expansion, all members of group will be able to satisfy their customers and can expect to earn more profits which will help them to save money and to sort out their family problems.
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