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This loan is part of Urwego Opportunity Bank's efforts to finance college tuition for students wishing to pursue higher education, but whose families do not have enough cash to pay tuition up front. It is provided at a lower rate than UOB's normal individual loans, with a 1.18% fee at 18% interest on a declining balance. By funding this loan you are helping a student reach his or her goals.
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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