Funded

Total loan: $1,250
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Boniface

Rwanda
Rwanda / Agriculture

A loan of $1,250 helped to buy fertilizer and pay for labor during maize production.


Boniface's story

Boniface is 43 years old, married and has been a maize farmer for 20 years. He will use the Kiva loan to cover labor costs and to buy fertilizer during maize production: He needs fertilizer to increase his production. With profits from his farming he wishes to invest in his business so that in the future he can acquire machines, like tractors, that will enhance his farming capacity.

In the photo, Boniface posed with dried maize plants. He was very happy to share with us the information about his business and excited that previous season was very productive for both family needs and business. 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 5, 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 5, 2012
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International