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Fred

Update on Fred

Fred is 53 years old and has eight children between the ages of 8 and 26. He has been selling foodstuffs in a store for 29 years. Fred would like a loan to add more foodstuffs such as rice, sugar, potatoes, and other inventory to his store. He would like to use any profits to pay school fees for his children. Fred would one day like to have a business successful enough to allow him to own a refrigerator and a motorcycle.

Previous Loan Details

Fred is 53 years old, married and has eight children who are between 7 and 26. His wife works as a farmer. Fred sells various items such as rice, juice, mineral water and sugar. He has been running his business for 29 years. Fred has requested this loan to buy more rice and sugar. He hopes... More from Fred's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Rwanda

  • $1,000
    Average annual income
  • 118
    View loans »
    Rwanda Loans Fundraising
  • $13,030,775
    Funds lent in using Kiva
  • 596.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Fred to buy more items to sell.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 27, 2011
Listed
Nov 26, 2011
Currency Exchange Loss:
Possible
Ended:
May 15, 2012