Update on CostiqueCostique is 33 years old. He has two children between 3 and 7 years old. He sells utensils and has spent 7 years in this business. He has decided to get a loan to buy more utensils for resale such as sauce pans, and forks. He plans to use the profits to reinvest in his business. In the future, he would like to get better business.
Previous Loan DetailsCostique is 31 years old, married, and has two children. Currently, one of his children attends school. Costique sells utensils, which he has been doing for 6 years. Costique will use this loan to purchase and add more utensils to his business. With the new profits, Costique plans to increase... More from Costique's previous loan »
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.
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