Funded

Total loan: $1,000
Powered by 39 lenders

Joseph

Rwanda
Rwanda / Farming

A loan of $1,000 helped to buy quality seeds and fertilizers, and to pay labor costs during rice production.


Joseph's story

Joseph is 43 years old. He wants this Kiva loan to buy quality seeds and fertilizers, and to pay labor costs during rice production. The profits from the business will be used to help him to expand his rice production. He has successfully repaid the first loan, and he is now requesting another after realizing the boom of his production. His cultivated land yielded more tons of rice with the help of the first loan, which has enabled him to build a house.

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: February 20, 2013
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: February 20, 2013
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International