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Veronicah is from Kenya. She has 5 children. She needs a loan of $125 to purchase detergent, bar soap, tea leaves and other inventory.
Veronicah supports her large family by operating a small retail shop. Due to a lack of investment capital, she has not been able to stock her store properly. She needs a larger and better variety of products to attract more customers, so she can increase her income and improve the lives of her family.
With a loan from World Vision, Veronicah plans to purchase detergent, bar soap, tea leaves, and other items to fully stock her store and meet customer demand. With the additional income she will earn, she plans to continue to invest in her business. She will be able to provide her family’s daily necessities and pay the school fees for her five children. In the future, Veronicah hopes to begin a second business as a dairy farmer.
Retail is a quick and scalable way to begin earning a profit. Many entrepreneurs begin with stalls at markets or even at home and need a loan to expand or increase their inventory. Others may be ready to open a small store. Goods purchased from loan funds range from clothing, grocery or sundry items to jewelry, candy, perfume or health and beauty supplies. Loans in the commerce sector account for around 33% of our loans.
Kabarnet is located in Baringo District in the Rift Valley Province of Kenya. It is characterized by uninhabitable desert and fertile farmland, flat arid plains and steep slopes. Rural Kenyans generally live with their extended family in a cluster of huts, which provides shelter and symbolizes the closeness of the people living there. Family members typically share work responsibilities and resources as they support themselves through farming.
Children are considered a valuable resource in Kenya. A large family means more hands to help on the farm and ensures parents will be taken care of in their old age. Education is provided by the Kenyan government for children up to age 8, however, nearly 1.7 million children do not attend school because of failing economic and social systems.
With a population nearing 75,000 and 20 percent being children under 5, access to health services is limited in Kabarnet. According to the World Health Organization, the leading causes of death among children younger than 5 are pneumonia, diarrheal diseases, HIV and AIDS, and malaria. Efforts are being made to strengthen the capacity of health workers and services. To receive care, people must travel, usually on foot, at least nine miles to the nearest health center.
In Kabarnet, World Vision also focuses on education, immunizations, HIV and AIDS prevention education, food security, and sanitation.
While Veronicah Cheboi initially invested in her business loan by purchasing to purchase detergent, bar soap, tea leaves and other inventory, she has struggled to repay her loan. While we continued to work with Veronicah to help her reestablish her business, we regret to report that Veronicah has now defaulted on her loan.
Veronicah prays that she will someday be able to restart her business so that she can better provide for her family. Veronicah would like to sincerely thank all the donors who partnered with her. Please pray for Veronicah and her family during this difficult time.
Despite the fact that World Vision boasts a repayment rate greater than 98%, there will always be some loans that do not get fully repaid. While World Vision does everything it can to ensure that this does not happen, it is an unfortunate reality that must be recognized when providing loans to less fortunate populations.
Thank you for your understanding, and your support of World Vision Micro. If you have any questions or concerns, please feel free to call our Customer Care line at 1-888-511-6444.