Kennedy lives in the Eldoret area of Kenya, which is the training ground for many of Kenya's Olympic runners. He has three children. For the past six years, Kennedy has been a farmer who sells milk, eggs, and crops. He finds milking to be the most enjoyable part of farming and states that operating costs are the biggest challenge. Animals on his farm have been given names of Leel and Met. When asked why he chose Juhudi Kilimo for his loan, replied, "low interest rate." Kennedy learned record keeping during Juhudi's required microfinance training session. His highest monthly expense is farming costs and he expects his loan to benefit his family by "increasing the food supply."
Kennedy is requesting a loan to buy a dairy cow. As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Kennedy owns a cow, poultry, and a bicycle but does not own a pig, pump, motorcycle, or automobile. Juhudi Kilimo also tries to measure any change in living standards based on their loans. Kennedy has a mosquito net and running water in his household but does not have electricity, solar power, 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.