Peris is a 65-year-old mother of four who has been farming for 44 years. She has a mixed farm near Murang'a, in the Central Province of Kenya, and is also a dairy farmer. She sells cereals locally and, for extra income, she runs a small shop and rents out property. Through these endeavors, she is able to employ three people in the community. The challenge to her businesses is a lack of income for expansion and competition from other similar businesses.
Peris has requested her first loan of 53,000 KES from Kiva partner, Juhudi Kilimo, to buy and insure an additional dairy cow. The extra income from the milk will allow her to complete her ongoing construction projects and, in the future, she will be able to produce about 30 liters a day and expand into poultry farming. She says Juhudi Kilimo is really helping low-income farmers unlike other financial institutions.
To facilitate a partnership between Kiva and Juhudi Kilimo, K-Rep Group (Juhudi Kilimo’s 100% owner) has guaranteed Kiva funds in the event of institutional default. Lenders should be aware that the risk of borrower default remains borne by the lender.
About Juhudi Kilimo:
Juhudi Kilimo is a for-profit social enterprise working with small-holder farmers in Kenya to finance purchases of dairy cows, chickens, agricultural equipment, and other assets that create immediate cash flow. Many of the assets are insured to prevent devastating business losses, and targeted technical assistance is provided to farmers, from agricultural training to basic book keeping and local market research.