Wesley (pictured here at his bakery business premises) lives in the Litein area of Kenya and is requesting a loan of 65,000 KES (Kenyan shillings) from Juhudi Kilimo to help him buy a dairy cow. He has two children and has been doing this work for seven years. His primary income sources are milk and the bakery business.
He stated what is most enjoyable about farming: "food production." His biggest challenge is "lack of enough capital."
Wesley was asked why he chose Juhudi Kilimo for this loan, to which he replied: "It has [a] grace period." This client was also asked what was learned during Juhudi's required micro-finance training session: "How to economically sustain our lives through farming." Besides farming, Wesley runs a bakery business within the local market to supplement his farming income.
His highest monthly expense is farming costs. When asked, "How will this loan benefit your family?" Wesley replied, "[It will] help expand both farming and bakery businesses and generate more income to meet family needs."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Wesley owns the following: "cow, bicycle." but does not own "pig, poultry, pump, motorcycle, 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, a 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.