Richard lives in the Kisii area of Kenya, which is primarily a bananas and sugar-cane growing region. He has five children and has been doing this work for 21 years. His primary income sources are milk, eggs, tea, crops, transportation services and a personal business.
He stated what is most enjoyable about farming: "It is a source of income." His biggest challenge is the lack of a market and poor roads. Animals on the farm have been given no names.
Richard was asked why he chose Juhudi Kilimo for this loan, to which he replied: "Meets clients' financial needs, low interest rate." This client was also asked what was learned during Juhudi's required micro-finance training session: "It is client-friendly."
His highest monthly expense is school fees. When asked how this loan will benefit his family, Richard replied, "Improve living standard."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Richard owns the following: "cow, poultry, motorcycle," but does not own "pig, pump, bicycle, automobile." Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household "mosquito net, solar power, TV, DVD," but does not have "electricity, running water, sewing machine."
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.