- RwandaFoodFunding via Vision Finance Company s.a. (VFC), a partner of World Vision International
- RwandaClothingFunding via Vision Finance Company s.a. (VFC), a partner of World Vision International
- RwandaServicesFunding via Urwego Opportunity Bank, a partner of Opportunity International and HOPE International
All group members are determined to receive this loan and are committed to repaying their loan as well. They say that their businesses are very crucial and attractive to their customers.
Beatrice sells local soft drinks, which she has been doing for four years. Her husband is a businessman. Beatrice will use the loan to purchase and add more production of local soft drink. With the new profits from her expanded business, Beatrice plans to pay school fees for her children for further studies.
About Urwego Opportunity Bank of Rwanda (UOB)Urwego is a Rwandan bank specializing in microfinance. It offers credit products to individuals and groups interested in starting or expanding their businesses. It also offers training in business development, financial literacy and health management. Given that approximately 90% of the Rwandan population is directly or indirectly related to the agricultural sector, Kiva lenders’ funds will be used to support UOB’s agricultural loan products, which are vital to the clients living in remote areas.
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