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Alphonsine

Update on Alphonsine

Alphonsine is 46 years old. She is a mother of five children. Her husband works as a house builder. She has been selling cooking oil and sugar. The profits from the business will be used to pay school fees for her children.

Previous Loan Details

Alphonsine is 45 years old. She is married with five children between the ages of 9 and 20 years old, They all attend school. Alphonsine sells food stuffs and has spent seven years in the business. With the loan, she will add more foodstuffs for sale, such as potatoes and bananas, as well as… More from Alphonsine's previous loan »

Additional Information

More information about this loan


This loan is part of Urwego Opportunity Bank's program targeting farmers who are members of cooperatives. All borrowers benefiting from these loans receive financing, as well as seed and fertilizer from the Rwandan government. This Kiva loan will thus be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. The loan is also covered by insurance in case of crop failure. 
 

Without flexible, risk-tolerant capital provided by lenders like you, Urwego Opportunity Bank would not be able to offer this type of loan. This is critical in Rwanda where 85% of the population is employed in agriculture, but many formal financial institutions consider the sector to be too risky to invest. By funding this loan, you are expanding opportunity to farmers with limited options.

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
  • 56
    View loans »
    Rwanda Loans Fundraising
  • $12,325,600
    Funds lent in using Kiva
  • 668.9
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $900 helped Alphonsine to buy sugar and cooking oil for sale.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 26, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 30, 2014