He owns a tea tree farming business. He started the business from the income of subsistence farming. He also grows potatoes, maize, and vegetables in small scale. The extract from tea tree is used to manufacture cosmetics.
He learned about Milango through an employee who invited him to the group, and he joined with an aim of accessing credit. The main challenges he faces are finding customers and seasonal weather. This he believes will be sorted once he purchases a water pump.
Stanley is applying for a loan of KES 36,700 to buy tea tree seedlings for the business. His extra income from the loan will be added to the savings to pay for his children’s school fees.
His future plan in five years' time is to do large-scale farming and open butchery.
More information about this loan
This loan is part of Milango's program designed for organic tea tree farmers in the Mt. Kenya region of the country. Partnering with Earth Oil -- a major distributor of organic and sustainable oil products -- and the USAID-funded FIRM project, Milango is offering loans to help groups of tea tree farmers establish steady and reliable incomes. FIRM provides skills training to farmers and Earth Oil provides seedlings and purchases the final products, guaranteeing a market. Accordingly, farmers' loan repayments are deducted from Earth Oil's purchasing prices, streamlining the process. Also easing the repayment process, Milango has built in an 18-month grace period to account for the time it takes for tea trees to mature and begin generating profits, and has waived its savings requirement.
596View loans »