Jared is a farmer who lives in the Nyamira area of Kenya, which is a popular banana growing region. He has two children. He has been doing this work for three years. His primary income sources are milk, eggs, tea, crops, and personal business.
He stated what is most enjoyable about farming: "Poor local market." His biggest challenge is "Limited funds." Animals on the farm have been given the names of "Nyabarati."
Jared was asked why he chose Juhudi Kilimo for this loan, to which he replied: "To fund this poultry project." He was also asked what was learned during Juhudi's required micro-finance training session: "Offers asset financing."
His highest monthly expense is farming costs. When asked how this loan will benefit his family, Jared replied that it will increase their income base.
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Jared owns a cow and poultry but does not own a pig, a pump, a bicycle, a motorcycle or an automobile. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household mosquito nets, electricity and solar power but does not have running water, a sewing machine, a TV or a 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.