Caroline lives in the Eldoret area of Kenya, which is home to the main campus of Moi University. She has four children and has been farming for 12 years. Her primary income sources are milk, eggs and crops. The animal on her farm has been given the name "Toto". She says what is most enjoyable about farming is "Gardening!" Her biggest challenge is price fluctuations. Her highest monthly expense is school fees. She will use this loan to buy a chuff cutter to ease the feeding of her dairy cows.
Caroline was asked why she chose Juhudi Kilimo for this loan, to which she replied, "Reasonable interest rates." This client was also asked what was learned during Juhudi's required micro-finance training session. "How to save for future use." When asked, "How will this loan benefit your family?", Caroline replied, "Help pay fees for my children."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Caroline owns the following: cow, poultry and bicycle, but does not own a pig, pump, motorcycle or automobile. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household a mosquito net but does not have electricity, solar power, running water, a sewing machine, TV or 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.