Claudine is 31 years old. She is married with two children. Her husband is a primary teacher and she has been in the farming business for ten years. This is a new loan product for UOB. The Post-Harvest Bridge Loan is a top-up loan for farmers who have received Agric Production financing for maize production and that are waiting for their harvest to be bought. UOB’s farmer clients are benefiting from the production financing.
This is significantly scaring their production, as more suffer post-harvest poverty while waiting for the buyer to pay. This Kiva loan will play a big role as a bridge for solving their primary day-to-day needs during this period.
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.