Emmanuel, 55 years old, is the father of four children, two of whom go to school. The Post-Harvest Bridge Loan, a new loan product for UOB, is a top up loan for farmers who have received the Agric Production financing and are waiting for their harvest to be bought by buyers. UOB’s farmer clients are benefiting from the production financing, which is significantly boosting their yield or production. During the post-harvest process, they are experiencing more poverty as they have to wait for the buyer to pay them. 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) helps underserved Rwandans by providing its clients with the necessary credit and savings capabilities required for economic transformation. It offers credit products, including group and individual loans, as well as training in business development, financial literacy and health management. UOB loan products leverage social collateral since most group members have little to no collateral.