A loan of $1,150 helped to buy fertilizer and to support labor costs during maize production.

Faustin's story

Faustin is 47 years old. He is married and has been in the business of farming for the past 18 years. He would like to use the Kiva loan to support labor costs and to buy fertilizers to increase maize production. With the farming profits he wishes to invest in his business so that in the future he can acquire machines and tractors that will enhance his farming capacity.

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 under-served 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

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Loan details