Faida is 28 years old, married, and has two children who are five and seven years old. Both of her children attend school. Faida sells charcoal, which she has been doing for a period of seven years. Her husband works as a house builder.
Faida will use the new loan to purchase more charcoal to sell. With the new profits from her expanded business, Faida plans to set up a shop and continue to reinvest in the business of charcoal. In the future, she would wish to see all her children go further in their studies, assuming she will be able to pay school fees for them.
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.