He learned about Milango through a friend who invited him to the group, and he joined with an aim of accessing credit to improve his business operations. His main challenge is the seasonal weather.
Benson is applying a loan of 41,900 Kenya shillings to cultivate land and buy seeds, including tea-tree seedlings. His extra income will be added to his savings to improve the living standard of his family. He aspires to increase the acreage he has under tea-tree farming.
More information about this loan
This loan is part of Milango's program designed for organic tea tree farmers in the Mt. Kenya region of the country. Partnering with Earth Oil -- a major distributor of organic and sustainable oil products -- and the USAID-funded FIRM project, Milango is offering loans to help groups of tea tree farmers establish steady and reliable incomes. FIRM provides skills training to farmers and Earth Oil provides seedlings and purchases the final products, guaranteeing a market. Accordingly, farmers' loan repayments are deducted from Earth Oil's purchasing prices, streamlining the process. Also easing the repayment process, Milango has built in an 18-month grace period to account for the time it takes for tea trees to mature and begin generating profits, and has waived its savings requirement.
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Success!! The loan was 100% repaid