Joyce lives in the Litein area of Kenya. She has four children, and she has been farming for 14 years. Her primary income sources are milk, eggs, tea, and personal business.
She stated what is most enjoyable about farming: 'Selling farm products.' Her biggest challenge is 'lack of good markets.' Animals on the farm have been given no names.
Joyce was asked why she chose Juhudi Kilimo for this loan, to which she replied: 'Low interest.' This client was also asked what was learned during Juhudi's required micro-finance training session, and she mentioned the importance of 'developing a savings culture.'
Her highest monthly expense is farming costs. When asked 'How will this loan benefit your family,' Joyce replied that the profits will 'give them a better living standard.'
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Joyce owns cows and poultry, but does not own a pig, pump, bicycle, motorcycle, or automobile. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household mosquito net and electricity, but does not have solar power, running water, sewing machine, TV, or 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.