Joseph lives in the Murang'a area of Kenya, which produces and exports coffee. His primary source of income comes from his personal farming business where he produces eggs, tea and other crops. He has four children and has been doing this work for 23 years. What he enjoys most about farming is growing kale, maize, peas, flowers and tea. His biggest challenge is not having enough seeds and fertilizer for planting season.
With this loan he wants to buy his first dairy cow. Joseph chose Juhudi Kilimo for this loan in order to get financial assistance to help him expand his farming. During Juhudi's required micro-finance training session, Joseph said that he learned that microfinance can help a farmer buy an asset that will help expand his farming. Joseph believes that the loan will benefit his family because it will give him a means to provide for his family's needs. His highest monthly expense is school fees.
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Joseph owns poultry and a bicycle, but does not own a cow, pig, pump, motorcycle or automobile. Juhudi Kilimo also tries to measure any change in living standards that may come from a loan. This borrower has running water in his home, but does not have a mosquito net, electricity, solar power, a sewing machine, TV, or DVD player.
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.