Cheruiyot lives in the Litein area of Kenya. He has no child. He has been farming for four years. His primary income sources are milk, eggs, and tea.
He said what is most enjoyable about farming, 'Making profit.' His biggest challenge is, 'Raising money.' Animals on the farm have been given no names.
Cheruiyot was asked why he chose Juhudi Kilimo for this loan, to which he replied, 'The low interest rate.' This client was also asked what was learned during Juhudi's required micro-finance training session. He said, 'That there is a grace period of two months.'
His highest monthly expense is farming costs. When asked how this loan will benefit his family, Cheruiyot replied: 'It will expand [the] agribusiness.'
As part of Juhudi's loan appraisal process, each borrower's assets are evaluated. Cheruiyot owns a cow, poultry, and motorcycle, but he does not own a pig, pump, bicycle, or automobile. Juhudi Kilimo also tries to measure any change in living standards based on this loan. This borrower has in the household a mosquito net, solar power, TV and DVD, but does not have electricity, running water, or a sewing machine.
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, thus reducing paper use, making the process more efficient, and 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.