Daniel is a student taking a Bachelor of Commerce degree at Strathmore University and this is his story:
I am Daniel, the firstborn in a family of four that includes myself, my sibling in primary school, and my two parents who are working in different professions. I come from a family with a business background and have a great interest in ethical business. Strathmore University integrates these in a single package and provides the opportunity to learn a curriculum with a difference in my country. I am currently in second year pursuing a Bachelor of Commerce degree with an interest in finance and management science.
I am applying for a loan to purchase a laptop that will be essential for my studies and convenient for data keeping for my future business undertakings. The laptop will be an essential part of my studies, both for the regular research that must be conducted and by providing access to the coursework.
I have a great interest in entrepreneurial activities. I have a dream of running a successful self-sustaining animal and bird farm which will create an avenue to fulfill my interest in real estate. I hope to attain financial stability by my late twenties. My philosophy is that I may be a slow walker but I never walk backward. I am a principled person guided by my own goals and objectives in life. I am adventurous and an achiever with a "go-getter” attitude. I love challenges in my day-to-day life. I am of the opinion that, if I want a better tomorrow, then I must start working on it today and now.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
Strathmore University is one of the leading private chartered universities in Kenya, and is a privately owned, not for profit institution. Originally established in 1961 as an Advanced-level Sixth Form College with inspiration and encouragement from Saint Josemaria Escriva, founder of Opus Dei, Strathmore University started offering degrees in 2002 before becoming fully chartered in 2008.
Strathmore University is a non-traditional Field Partner, in that they are an educational institution, not a microfinance institution. Lenders to these loans should be aware of the following:
1 - You might not begin to receive repayments on this loan for many years, and this loan may have terms as long as 11 years. The full-tuition loans administered by Strathmore University can have loan terms of up to 11 years, which includes a grace period of up to 5 years. The grace period includes the time during which the student is enrolled at the university, and the first year after graduation. During the grace period, the borrower is not required to make any repayments, and you would not receive any repayments. Please be sure the loan terms and repayment schedule of this loan suit you.
2 - Administering loans is a new activity for Strathmore University, which can increase the risk on this loan. While most Kiva Field Partners are microfinance institutions and therefore experienced at administering loans, Strathmore University's core business is providing education, and they are inexperienced at administering loans. This partner has passed Kiva's due diligence requirements for a non-traditional Field Partner, however lenders to this loan should be aware that this loan carries some additional risk as Strathmore University becomes more experienced with administering loans to students.
For more information on Strathmore University, and the Kiva loans they are administering, please visit the Field Partner page.