Charles lives in the Kericho area of Kenya, which lies in the tea growing region of Kenya. He has 4 children and has been doing this work for 10 years. His primary income sources are milk, eggs, crops, and transportation services.
He stated what is most enjoyable about farming: 'Dairy farming.' His biggest challenge is: 'Market price is low.' Animals on the farm have been given the name of 'Keroi.'
Charles was asked why he chose Juhudi Kilimo for this loan, to which he replied: 'it offers their loans at a low interest rate.' This client was also asked what was learned during Juhudi's required micro-finance training session: 'how to develop a consistent savings culture.'
His highest monthly expenses are farming costs. When asked 'How will this loan benefit his family', Charles replied: 'The family will have better living standards due to the increase in income.'
Charles owns the following: a cow, poultry, and a motorcycle, but does not own a pig, a pump, a bicycle, or an automobile. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household a mosquito net, but does not have electricity, solar power, running water, a sewing machine, a TV, or a DVD player.
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.