- RwandaAgricultureFunding via Vision Finance Company s.a. (VFC), a partner of World Vision International
- RwandaServicesFunding via Vision Finance Company s.a. (VFC), a partner of World Vision International
- RwandaRetailFunding via Vision Finance Company s.a. (VFC), a partner of World Vision International
Update on SamuelSamuel is married with five children who are between 2 and 8 years old. Two of them attend school. His wife works as a farmer. He has been a rice farmer for 5 years. He would like to get this loan to buy seeds and support labor costs to get the best harvest. With the profits, he plans to expand the area he has been using to get more output.
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 underserved 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.
Previous Loan DetailsSamuel is a father of five children and a Rwandan rice farmer. He has been doing this work for the past five years. This business is one that he learned from his parents. He will use this Kiva loan to support labor costs during rice production: preparing seedlings in the nursery, transplanting, f... More from Samuel's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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Success!! The loan was 100% repaid