100%

funded

Total loan: $1,800

Eric

, , Rwanda / Agriculture

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A loan helped To pay workers who harvested maize.


Eric's story

Eric is 34 years old. He is married with five children who are between 1 and 11 years old. Two of them go to school. He is a farmer and he has been growing maize for the past 16 years, while his wife is a businesswoman. With the loan from Kiva, he would like to pay workers who harvested maize. The profits from the business will be used to buy a piece of land for farming. The agriculture sector accounts for 37% of Rwanda's gross domestic product, generates 65% of Rwanda's export revenue, and employs approximately 90% of Rwandans (as of 2009). Despite the importance of agriculture to Rwandans and their economy, financial institutions view lending to fund agricultural activities as a high-risk proposition because the profitability of these activities is affected by weather, natural disasters, and price fluctuations. For this reason, farmers in Rwanda remain under served by financial institutions. Urwego Opportunity Bank is expanding into this market and is happy to provide Kiva lenders with the opportunity to support Rwandan farmers.