Naburereya A Group
George first enrolled with One Acre Fund during the 2009 Long Rains and is now preparing to be a One Acre Fund farmer during the 2013 Long Rains season. George joined One Acre Fund in order to grow enough food for the family and he used his increased profits to send his children to school.
Prior to joining One Acre Fund, George was only able to harvest three bags of maize per half acre, but after joining One Acre Fund during the Long Rains 2012, he was able to harvest seven bags per half acre. He plans on using future profits from the harvest to send his children to school and save for the future.
During the 2013 Long Rains season, each group member will receive half an acre of agricultural inputs on credit. George’s group will receive six acres worth of inputs on credit.
More information about this loan
To give borrowers more flexibility, One Acre Fund permits them to switch groups, drop out of the program and change their loan amounts before receiving their inputs. To accommodate this, Kiva allows One Acre Fund to post loans for groups that may change in size and membership. Only the group leader is featured in the photo, representing the loans for each of his or her individual group members.
If a lender makes a loan to group containing a borrower that drops out, the lender will receive the full loan amount for that borrower back at the end of the harvest season. If the lender makes a loan to a group containing a borrower that decides to take a smaller loan amount after the loan is funded, the lender will receive the repayments from the smaller loan amount plus the full difference between the two loan amounts at the end of the harvest season.
This Kiva loan will be used to provide borrowers with needed goods or services, as opposed to cash or financial credit.
About One Acre FundWith this loan, One Acre Fund will purchase fertilizer, seeds, and other important farming inputs to distribute to this farmer group during Kenya's next planting season in February. This distribution of farming inputs is part of One Acre Fund's integrated agriculture package, which includes training, reliable input supply (such as fertilizer and seeds), credit and insurance. Clients enroll between July and October for the following planting season, which begins in February. By purchasing inputs during these months, One Acre Fund is able to take advantage of the historically low farm input prices during this time of year in Kenya.
Members of One Acre Fund form groups in which each borrower guarantees the loans of all other borrowers in the group. One Acre Fund differs from a traditional microfinance institution, however, by allowing groups to split before the delivery of inputs at planting time. If a group were to split, each of the two new groups would have fewer members that could support a delinquency or default from a member. This may represent a different risk than that for a traditional MFI’s group loan.
This is a Group Loan
1079View loans »
Success!! The loan was 100% repaid