Salome lives in the Eldoret area of Kenya, which is extremely fertile for agriculture. She has 5 children and has been doing this work for 14 years. Her primary income sources are milk, eggs, crops, transportation services, and a personal business.
She stated what is most enjoyable about farming is: she loves her cows very much and seeing them makes her happy. Her biggest challenge is high drug prices, more so when the animals are sick. The animals on the farm have been given the names of Sofia and Maritat. She will use the loan to buy and insure a dairy cow.
Salome was asked why she chose Juhudi Kilimo for this loan, to which she replied: 'Heard from another existing client.' This client was also asked what was learned during Juhudi's required micro-finance training session: 'Learnt about co existence with other members, leadership and loan management.'
Her highest monthly expense is school fees. When asked 'How will this loan benefit your family?', Salome replied 'By acquiring another cow she will be able to increase her asset base also the family income will go up.'
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Salome owns the following: 'cow, poultry, bicycle, motorcycle' but does not own 'pig, pump, automobile'. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household 'mosquito net' but does not have 'electricity, solar power, running water, sewing machine, TV, DVD'.
Note: To create this loan profile, Juhudi Kilimo used a mobile device to gather information in the field and send the data to a central online repository, thus reducing paper use, making the process more efficient, and keeping costs down.
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.