Funded

Total loan: $1,000
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Bonifrida

Rwanda
Rwanda / Farming

A loan of $1,000 helped to buy more fertilizers and support labor cost during maize production.


Bonifrida's story

Bonifrida is 55. She is married and has 7 children, all go to schools. She has been a farmer for the past 30 years. She will use Kiva loan to support labor costs and fertilizer during maize production: she needs to buy fertilizers in order to increase her production. With profits from her farming she wishes to invest in her business so that in the future she can acquire machines like tractors that will enhance her farming capacity. The photo taken recently at the previous maize plantation and says that the last season went well. 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.



Loan details

Loan length:

10 months
Repayment schedule: At end of term
Disbursed date: September 6, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International

Lenders and lending teams



Loan details

Loan length:

10 months
Repayment schedule: At end of term
Disbursed date: September 6, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International