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Peruth
Peruth is a mother of six children, the eldest of whom is 28 years old. She does rice farming and has been doing rice farming for the past 15 years. She was taught farming by her cooperative. She will use a Kiva loan to support labor costs during rice production: nursery, transplanting, field management, guarding birds, and lately in harvesting activities.

With profits from her farming she wishes to invest in her business so that in the future she can acquire machines and tractors that will enhance her farming capacity.

The agriculture sector accounts for 37% of Rwanda's gross domestic product, generates 65% of Rwanda's export revenue, and employs approximately 90% of Rwandans (as of 2009). Despite the importance of agriculture to Rwandans and their economy, financial institutions view lending to fund agricultural activities as a high-risk proposition because the profitability of these activities is affected by weather, natural disasters, and price fluctuations. For this reason, farmers in Rwanda remain underserved by financial institutions. Urwego Opportunity Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.

Additional Information

About Urwego Opportunity Bank of Rwanda (UOB)

Urwego Opportunity Bank (UOB) 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.

About Rwanda

  • $1,700
    Average annual income
  • 64
    View loans »
    Rwanda Loans Fundraising
  • $15,267,900
    Funds lent in using Kiva
  • 599.5
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $675 helped Peruth to pay for labor which will work on her farm.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Jul 21, 2011
Listed
Aug 31, 2011
Currency Exchange Loss:
Possible
Ended:
Apr 15, 2012