Stanley lives in the Eldoret area of Kenya, which is home to the main campus of Moi University. He has two children and has been doing this work for five years. His primary income sources are milk, crops, and transportation services.
He stated what is most enjoyable about farming: "dairy keeping!" His biggest challenge is "drought conditions." Animals on the farm have been given the names of "lelan." Stanley will use the loan of KES 60,000 requested from Kiva partner Juhudi Kilimo to buy a dairy cow.
Stanley was asked why he chose Juhudi Kilimo for this loan, to which he replied: "fair interest rates." This client was also asked what was learned during Juhudi's required microfinance training session: "saving for the future."
His highest monthly expense is farming costs. When asked "How will this loan benefit your family?" Stanley replied "better nutrition and more disposable income."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Stanley owns the following: "cow, motorcycle" but does not own "pig, poultry, pump, bicycle, automobile." Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household "mosquito net, solar power, TV" but does not have "electricity, running water, sewing machine, 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.