A loan of $1,475 helped to buy more fertilizer and to pay for labor costs during maize production.


Erias's story

Erias is 28 years old. He is a father of three children and they are still too young to be enrolled in school. He would like to use the Kiva loan to pay for labor costs and buy fertilizer during maize production; he needs to buy 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 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.



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Loan details