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Veneranda

Update on Veneranda

Veneranda, 31 years old, is the mother of one child. She sells different items in her store. Veneranda wants to use this loan to add more new items such as sugar, beans, and rice to sell. She will use the profits from the business for savings. Veneranda is very thankful for the previous loan which she believes helped her so much.

Previous Loan Details

Veneranda is a 30-year-old Rwandan entrepreneur. She is a widow with no children. For the past seven years, she has sold foodstuffs. This business has enabled her to improve the standards of living for her family. She requires this loan to purchase more cassava that she will sell at her pl... More from Veneranda'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
  • 85
    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 $850 helped Veneranda to buy more sugar, salt and beans to sell.
100% repaid
Repayment Term
10 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 28, 2012
Listed
Jun 22, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013