Mercy lives in the Litein area of Kenya, which houses a campus of Mt. Kenya University. She has two children and has been a farmer for the past seven years, producing and selling milk, eggs, and tea. Mercy finds harvesting to be the most enjoyable aspect of farming and her biggest challenges is her lack of funds. When asked why she chose Juhudi Kilimo for her loan, she replied "grace period availability." When asked what she learned during her required microfinance training session, Mercy said "loans given to members of at least 15 members." Her greatest monthly expense is farming costs.
Mercy is requesting a 40,000 KES loan from Juhudi Kilimo to construct a dairy unit. As part of Juhudi Kilimo's loan appraisal process, each borrower's assets are evaluated. Mercy owns a cow, poultry, a pump, and motorcycle, but does not own a pig, bicycle, or automobile. She has a mosquito net, electricity, and a TV but does not have solar power, running water, a sewing machine, or a DVD. Mercy will use the profits from her loan to educate her kids.
Note: To create this loan profile, Juhudi Kilimo used a mobile device to gather information in the field and send the data to a central online repository. This reduces paper use and makes the process more efficient while keeping costs down.
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.