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This “Community Impact Loan” is part of UOB’s effort to support cooperatives and associations that seek the common benefit of members for non-profit purposes. In Rwanda, these organizations are all too often unable to access long-term financing. This drastically reduces their ability to invest in the machinery or facilities that would make their businesses more profitable, and ultimately more sustainable. We want to change the situation.
In order to access UOB’s “Community Impact Loan,” borrower organizations must be officially registered with the government, have been in existence for at least two years, pass UOB's checks on management and governance, and have a clearly identified need for funding. UOB also requires that each loan benefit 100 or more members of the organization. With Kiva funding, UOB is able to administer loans with flexible repayment terms according to each borrower organizations’ needs and capabilities. By supporting this loan, you are playing an important role in helping businesses grow in underserved regions, impacting hundreds of borrowers and their families.
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.
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