Kiva Project Update: July 2012


It’s that time of the month again, Cromrades – where we sink our hard-earned money into Kiva loans! Here are this month’s recipients:

Mary – Kenya

Mary is age 36 and married with one child who is age 12 years and in school. Mary has been in farming for 14 years running and currently produces milk, maize, beans, vegetables, and poultry birds. She runs a retail business in the local market dealing with grocery items. Mary has made a loan request of 31,200 Kenya shillings (KES) from Juhudi Kilimo to buy and insure a dairy cow. She believes this will improve her farming income, which she will then use to expand her retail business and purchase more land. Mary says the major challenges in farming include substandard input materials and high cost of feeds. She is happy with her Juhudi Kilimo partnership and believes she will be able to meet her family’s needs adequately.

Julius – Kenya

Julius is 48 years old and married to Emily. The couple is blessed with six children between the ages of five and 19 and they jointly provide for their family. For the past 14 years, Julius has been selling cereals and earns a monthly income of 5,000 KES. Julius is requesting a 25,000 KES loan through KADET LTD to pay university fees for his child. This is his second loan and he successfully repaid his previous loan. His dreams and hopes are that his children are educated well for a brighter future.

Canaana Group – DR Congo

This client, Kabugho, is the leader of the Canaane loan group. She is a young entrepreneur, bravely dealing with her situation, and is 30 years old. She is married and has three young children. Her husband is a broker for a transportation carrier. This featured client sells beignets and cakes that she makes using local technology. She began this business with her own funds, given to her by her husband. However, she just received her first loan with the microfinance institution Hekima. This group recently joined Hekima’s microfinance program. This client is full of hope for her business. This new loan should allow her to supply herself with one bag of flour, 10 kg of sugar, yeast, etc. She is grateful to Hekima for this first loan she is receiving without the need for a material guarantee, because thanks to this loan, she is going to improve her capital and provide for her family’s various needs.

This is our 7th round of loans, and brings us to a total of 21 loans since we started this project back in January. Traffic took a little drop in May (because of my vacation) and has been up for the past two months, so depending on how the numbers shake out, we may end up with a fair chunk more to loan going into the fall.

For the month of October, we made $46.38, and loaned $50.
For the month of November, we made $65.81, and loaned $50.
For the month of December, we made $44.76, and loaned $50.
For the month of January, we made $58.59.
For the month of February, we made $57.33 and loaned $125.
For the month of March, we made $78.68 and loaned $125.
For the month of April, we made $64.62, and loaned $57.50
For the month of May, we made $58.45, and loaned $75.00

Total amount loaned so far: $525.00
Total loan funds repaid: $93.78
Fund balance: $19.70

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