Funded

Total loan: $1,850
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Noel

Rwanda
Rwanda / Agriculture

A loan of $1,850 helped to buy fertilizers and support labor costs during rice production.


Noel's story

Noel is 50 years old. He has spent eight years growing rice. He would like to use this Kiva loan to support labor costs and buy fertilizers that will help increase the production of his crops. 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:

9 months
Repayment schedule: At end of term
Disbursed date: April 28, 2014
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International

Lenders and lending teams




Loan details

Loan length:

9 months
Repayment schedule: At end of term
Disbursed date: April 28, 2014
Facilitated by Field Partner: Urwego Opportunity Bank, a partner of Opportunity International and HOPE International