Richard lives in the Litein area of Kenya, which houses Mt. Kenya University. He has four children. He has been running his dairy business for six years. His primary income comes from selling dairy products such as milk and eggs. He will use the loan to buy a dairy cow.
Richard says that what is most enjoyable about farming is the "tea farming and poultry keeping." His biggest challenge is a lack of capital. One of his animals on the farm is named "Chebirir."
Richard was asked why he chose Juhudi Kilimo for this loan, to which he replied: "It is friendly and offers a grace period." This client was also asked what was learned during Juhudi's required micro-finance training session. His response was, "Farming as a business is important for our lives."
His highest monthly expenses are farming costs. When asked how he will use this loan to benefit his family, Richard replied, "I will use it to generate income for my children."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Richard owns a cow and poultry but does not own a pig, pump, bicycle, motorcycle or automobile. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in his household a mosquito net and running water but does not have electricity, solar power, sewing machine, TV or DVD player.
Note: To create this loan profile, Juhudi Kilimo used a mobile device to gather information in the field and then sent 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.