Solomon lives in the Kericho area of Kenya, which lies in the tea-growing region of Kenya. He has no children and has been doing this work for four years. His primary income sources are milk, tea, crops, transportation services, and personal business.
He stated what is most enjoyable about farming: "dairy farming." His biggest challenge is "market price is not constant." Animals on the farm have been given the names of "Lemet."
Solomon was asked why he chose Juhudi Kilimo for this loan, to which he replied: "because they give an easy mode of repayment." This client was also asked what was learned during Juhudi's required microfinance training session: "Loans are insured."
His highest monthly expense is transportation costs. When asked how would this loan benefit his family, Solomon replied "family income will increase and better living standard."
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Solomon owns the following: "cow, motorcycle" but does not own "pig, poultry, 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, electricity, TV" but does not have "solar power, running water, sewing machine, DVD."
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.