Benard lives in the Litein area of Kenya, which houses Mt. Kenya University. He has no children. He has been doing dairy-farming work for 10 years. His primary income sources are milk and eggs. He will use the loan of 50,000 KES from Juhudi Kilimo to buy a dairy cow.
He stated what is most enjoyable about farming is "dairy farming." His biggest challenges are "unstable market prices and a lack of enough capital to expand the business." One of the animals on his farm is named "Tuiyai."
Benard was asked why he chose Juhudi Kilimo for this loan, to which he replied: "Low rates and it is faster." This client was also asked what was learned during Juhudi's required micro-finance training session. He replied, "They are good for our economy."
His highest monthly expenses are his farming costs. When asked how this loan will benefit his family, Benard replied, "It will help me generate more income for my family."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Benard 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 solar power but does not have electricity, running water, 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.