C5269 Abarwanashyaka Group
Egidia owns a small business selling cow meat and has been in this business for four years. The hours of her business are from six in the morning to six in the evening every day.
Egidia is a group representative of this group which contains eight people with different business. Some of them sell spare parts, some sell clothes, operate a pub, and so on.
Now, Egidia and her group are requesting a loan from Kiva lenders via Vision Finance Company in order to expand their businesses. With this loan, Egidia in particular will be able buy more cows which will allow her to satisfy her customers.
With the increased profits that Egidia expects to earn, she will save money for her future and pay her children’s school fees.
More information about this loan
This loan helps low-income entrepreneurs in Rwanda grow their businesses and, ultimately, to support their families. These loans typically serve very poor and rural clients and particularly women, who often lack access to the traditional collateral needed for a loan. VFC serves these entrepreneurs through both individual and group loans and provides them with financial education and tools for them to save money for the future. By supporting this loan, you are helping Rwandan entrepreneurs build the means to support their families and improve their lives.
About VisionFund RwandaVisionFund Rwanda (VFR), is the microfinance subsidiary of World Vision and is one of the largest microfinance institutions serving rural underprivileged communities in Rwanda, many of which do not have access to formal financial services.
VFR serves people and communities that are economically productive but low-income, especially in very rural areas. This includes small business owners and salary earners who are looking for opportunities to provide better lives for their families and a promising future for their children.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid