Charles lives in the Nyamira area of Kenya, which is a popular banana growing region. He has 3 children and has been doing this work for 15 years. His primary income sources are milk, tea, transportation services and his personal business.
He responded that what is most enjoyable about farming is 'earning the returns!' His biggest challenge is 'looking for finances'. He has named his animal 'Ingombe.' He will use the loan to buy insecticides and to grow trees around his horticultural farm to protect the crops from occasional strong winds.
Charles was asked why he chose Juhudi Kilimo for this loan, to which he replied: 'the reasonable interest charges.' This client was also asked what was learned during Juhudi's required micro-finance training session. His response was 'Loaning.'
His highest monthly expense is school fees. When asked 'How will this loan benefit your family?', Charles replied 'Increase the family income.'
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Charles owns the following: 'cow, poultry, motorcycle', but he does not own: 'pig, 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' but does not have: 'electricity, 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.