Charles, who is holding up his hand, is 62-years-old. He is married with eight children, four of whom are in school. He solely depends on farming to earn a living and is, therefore, keen on practicing better farming methods. During the 2014 long rains, Charles will plant a one acre farm, with maize in ½ acre and sorghum and millet in ¼ acre each.
He is therefore requesting a loan to enable him purchase hybrid seeds and fertilizers. With these farm inputs, he is hopeful that the harvest will be good and he will be able to ensure food security for his family. He will sell the surplus and obtain money to pay for part of the school fees.
More information about this loan
Nuru International is a U.S. based non-profit that aims to help rural farmers in Kenya lead their communities out of extreme poverty using agricultural loans and specialized trainings. This loan will go towards the cost of seeds, fertilizers, agricultural training, and insurance. While this loan is structured with a one time payment in September, the farmers may prepay their loans if they have the capacity to repay earlier. As a result, lenders may receive repayments earlier than the estimated end date.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit. While the loan profile indicates that the disbursal date of the inputs will be early November, Nuru International does not expect to begin providing inputs until early December. This will ensure that borrowers receive their inputs by January, the start of the typical planting season for Kenyan farmers.
About Nuru International:Nuru International is a U.S. based non-profit that aims to equip rural farmers with the tools, knowledge, and resources necessary to lead their families out of extreme poverty. Nuru’s “Agricultural Input Loan” provides farmers with seeds, fertilizer and agricultural extension programs that have proven to more than double a farmer’s crop yield. Funds from Kiva’s lenders will help Nuru to scale its operations to reach 10,000 farmers in Kenya and 1,700 farmers in Ethiopia by 2016.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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