Rwanda
Vincent Nkinamubanzi is a 53 year old married man with 4 children, all of who attend the local primary school. He operates a wholesale shop in Ngororero City selling a wide range of products. Meanwhile his wife is a farmer but also helps out in the shop when time permits.
Vincent has been a shopkeeper for the last 8 years, 4 of which were in retail before moving to wholesale sales. His sales include rice, beans, maize, maize flour, sorghum, soft drinks, sugar, salt, cooking oils, household items like pans and plates, cleaning items, and non-perishable food as well as construction materials like cement. Vincent now wants to expand his business because he has a rapidly growing customer base. He sees that the best way of doing this is partly by increasing the stock in his shop and partly by developing his business into supplying the Ngororero District as he is aware that there is good potential for sales to the retail sector there. Vincent has applied for this loan so that he can invest in the purchase of 30 sacks of rice at 750000Frw (£630), 10 sacks of sugar at 500000Frw (£420), 10 sacks of salt at 250000Frw (£210), 5 sacks of beans 325000 (£272), 5 sacks of maize both at 100000Frw (£839), 30 sacks of maize flour at 360000Frw (£302), 10 sacks of sorghum at 350000Frw (£293), 10 crates of soda at 125000Frw (£105), and 25 boxes of Juices 250000Frw (£210) and 20 Gallons of cooking oil at 600000Frw (£504). The balance of the loan amounting to 1390000Frw (£1168) will be invested in purchasing household items, cleaning products and non-perishable foods. At present he employs 2 permanent members of staff to help in the shop. He currently earns around 1800000Frw (about £1511) per month from this business and so feels confident that he can repay this loan in full and on time.
‘This loan was disbursed before the implementation of measures imposed to restrict the spread of coronavirus/COVID 19. It is extremely probable that these measures will impact on repayments from this entrepreneur. Please consider this before supporting this loan.’
Loan added: 5 March 2020
Vincent's loan repayment schedule
| Date | Expected repayments | Actual repayments |
|---|---|---|
| £415.27 | ||
| £173.02 | ||
| £173.02 | ||
| £173.02 | ||
| £173.02 | ||
| £173.02 | ||
| £173.02 |
The above amounts are indicative, based on the exchange rate the day this loan was added to the website. The actual amounts you will receive will be based on an exchange rate at the time the repayment is returned to your account. See our Help Centre for more information.
