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Update on Theonest

Theonest is single. He has been a rice farmer for two years. He would like to get this Kiva loan to buy fertilizers, and to support labor costs to get the best harvest in the rice production. With the profits, he plans to expand the area he has been using to increase output.

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 under served 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.

Previous Loan Details

Theonest is single. He is a rice farmer and has been doing rice farming for the past two years. His parents taught him how to grow rice. He will use the Kiva loan to pay for labor costs during rice production: nursery, transplanting, field management, guarding birds, and lately in harvesting acti... More from Theonest's previous loan »

Additional Information

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.

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

  • $1,700
    Average annual income
  • 9
    View loans »
    Rwanda Loans Fundraising
  • $15,406,850
    Funds lent in using Kiva
  • 597.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Theonest to buy more fertilizers and to support labor costs in rice production.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Mar 29, 2012
Apr 20, 2012
Currency Exchange Loss:
Apr 17, 2013
This photo was used before for a previous loan for Theonest. It was first posted on Kiva on Sep, 2011. Learn More