Innocent is 23 years old and has one child who is 2 years old. He sells general items such as juice, milk, water, bread, bananas, Irish potatoes, etc. His store is open from 6 a.m. until 10 p.m. every day. He currently employs one person to help him. He is the leader of the group, which is called "C9251 Twitezimbere" in the local language.
Innocent has five years of experience in this business. He has requested a loan from Kiva lenders via Vision Finance Company in order to expand his business by buying more juice, milk, water, bread, bananas and rice for sale. With the profit, Innocent will generate other business in different areas.
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.