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Jaques

Update on Jaques

Jacques has been a rice farmer for 40 years. He and his wife, who is also a farmer, have five children, all of whom are enrolled in school. Jacques would like to request this loan to buy seeds and to support labor costs in order to get the best possible harvest. With the profits, he plans to expand the area he has been using in order to get more 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

Jaques is the father of five children, the eldest 40 years old. He has been a farmer for the past 40 years, having been taught farming by his cooperative. Jaques will use this Kiva loan to support labor costs during the entire rice production: nursery, transplanting, field management, guarding bi... More from Jaques'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
  • 86
    View loans »
    Rwanda Loans Fundraising
  • $12,777,600
    Funds lent in using Kiva
  • 597.0
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $900 helped Jaques to buy seeds and pay for labor costs.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
At end of term
Pre-Disbursed:
Apr 10, 2012
Listed
May 10, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2013
This photo was used before for a previous loan for Jaques. It was first posted on Kiva on Aug, 2011. Learn More