Funded

Total loan: $1,475
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Anaclet

Rwanda
Rwanda / Farming

A loan of $1,475 helped to buy more fertilizers and pay labor costs.


Anaclet's story

Anaclet is 38 years. He has been in the business for the past five years. He would like to use his Kiva loan to pay for labor costs and buy fertilizers during maize production. He needs to buy fertilizer in order to increase production. With profits from his farming, 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 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: November 26, 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: November 26, 2013
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International