Cyrus lives in the Muranga area of Kenya, which lies in the central Rift Valley. He has two children and has been doing this work for 15 years. His primary income sources are milk, eggs, tea and crops.
He stated that what is most enjoyable about farming is the high returns. His biggest challenge is lack of capital and high input prices. Animals on the farm have been given the names of "Wamaitha."
Cyrus was asked why he chose Juhudi Kilimo for this loan, to which he replied, "Because Juhudi is giving loans to farmers." This client was also asked what was learned during Juhudi's required microfinance training session. He said, "Microfinance gives loans with a minimal collateral requirement."
His highest monthly expense is farming costs. When asked how this loan will benefit his family, Cyrus replied that he will be able to educate his children and to improve their living standards.
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Cyrus 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 this loan. This borrower has a mosquito net, solar power, running water, TV and DVD in the household but does not have electricity or a sewing machine.
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.