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Jerome

Update on Jerome

Jerome is 30 years old. He is married to a businesswoman and they have one child. He owns a restaurant and sells cooked food. They have been in the business for the past ten years. With this loan, he would like to buy more foodstuffs to use in the restaurant as well as making more investments into his business.

Previous Loan Details

Jerome is 30 years old. He owns a restaurant and has been in the business for ten years. With the loan, he wants to buy more foodstuffs to sell, such as beans and sorghum. The profits from the business will be used to reinvest in the business. In the photo, Jerome holds a passbook. More from Jerome'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
  • 39
    View loans »
    Rwanda Loans Fundraising
  • $13,303,700
    Funds lent in using Kiva
  • 680.5
    Rwanda Francs (RWF) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Jerome to buy more foodstuffs for use in cooking food for sale.
100% repaid
Repayment Term
6 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 31, 2014
Listed
Apr 30, 2014
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014