Update on FrancoiseFrancoise is 31 years old. She is married and has four children, and all the children attend schools. Francoise has spent years selling different items in the boutique, such as sugar and other items. She has realized that her customers are in need of shoes for the children. Therefore, after successful repayment of the previous loan, she decided to request a loan to add shoes in her existing business. The profits from the business will be used to pay school fees for the children.
Previous Loan DetailsFrancoise is a 30-year-old Rwanadan entrepreneur with four children between the ages of 2 and 8 years old. The oldest two are in school. For the past four years, she has been running a general store with her husband. This business has enabled them to care for their family. She requires a… More from Francoise'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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