Richard lives in the Litein area of Kenya. He has 7 children and has been doing this work for 20 years. His primary income sources are milk and crops.
He stated what is most enjoyable about farming: 'Planting maize!' His biggest challenge is 'getting losses.' Animals on the farm have been given the names of 'Tuiyoi and chemur.'
Richard was asked why he chose Juhudi Kilimo for this loan, to which he replied: 'Low interest rate.' This client was also asked what was learned during Juhudi's required micro-finance training session: 'How to save little by little.'
His highest monthly expense is school fees. When asked 'How will this loan benefit his family,' Richard replied 'Improved milk production.'
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Richard owns the following: 'cow' but does not own 'pig, poultry, pump, bicycle, motorcycle, automobile.' Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household 'mosquito net' but does not have 'electricity, solar power, running water, sewing machine, TV, 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.