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Verene

Update on Verene

Verene is 27 years old, married to a technician and the mother of two children. She has spent six years in the business of selling food items, and has done well enough to improve the living conditions of her family. She is requesting this loan to buy more beans and cassava to sell. She will use the additional profits she earns to improve her home so that her family can live more comfortably in it.

Previous Loan Details

Verene is 27 years old. She is a mother of two children who are ages 5 and 13 years old. They are all in school and she works hand in hand with her husband to raise these children. Her husband is a technician. Verene sells food stuffs such as beans, sorghum, etc. and she has been doing this busin... More from Verene'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

  • $1,700
    Average annual income
  • 31
    View loans »
    Rwanda Loans Fundraising
  • $14,314,275
    Funds lent in using Kiva
  • 634.5
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $475 helped Verene to buy more cassava and beans to sell.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 14, 2013
Listed
Apr 11, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013