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Esperance

Update on Esperance

Esperance is 69 years old. She owns a beauty salon. She has been in this business only for a few months, but she expects much from it. She has applied for a loan to buy more equipment, such as hood dryers, scissors and hair clippers, to use in her salon. She plans to use the profits she earns to pay for her children’s school fees.

Previous Loan Details

Esperance is 68 years old and married with four children who are between fourteen and twenty years old. All of her children currently go to school. Esperance’s husband works as a driver. For the past six years, Esperance has been selling CDs and DVDs. She will use her loan to expand her… More from Esperance'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
  • 70
    View loans »
    Rwanda Loans Fundraising
  • $11,760,875
    Funds lent in using Kiva
  • 632.9
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Esperance to buy hood dryers, scissors and hair clippers to use in her beauty salon.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 24, 2013
Listed
Feb 16, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 19, 2013