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Kennedy Kombo is from Kenya. He has 2 children. He needs a loan of $375 to buy more shoes to sell.
Kennedy Kombo is from Kenya. He has 2 children. He needs a loan of $375 to buy more shoes to sell.
Kennedy Kombo is a hardworking father of two. He provides for them with the income he earns by selling shoes. Although he would like to buy more shoes and expand his business, a lack of money is hindering that.
A loan from World Vision will enable him to create a thriving shoe business. The additional income he earns will enable him to invest in his business. In addition, he will be able to better provide for his family and ensure his children receive an education.
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.
Soweto is a large slum on the east side of Nairobi, Kenya. Home to nearly one million, residents struggle daily with the sickness, crime, hunger, and hopelessness that results from severe poverty. Many children have one or no parent. While education is free in Kenya, many children cannot attend because their families cannot afford the required uniform, shoes, and school supplies.
HIV and AIDS have left many children orphaned and vulnerable. Sometimes the oldest child finds themselves as head of the household, and sometimes relatives or neighbors step in to help care for children, making it even more difficult to rise out of poverty.
World Vision has been working in Kenya since 1965. While it has developed a community-based, integrated approach to reduce the spread of HIV and AIDS, World Vision has made improvements in all aspects of life in Soweto. Accomplishments include conducting medical check-ups for children to ensure good health; subsidizing school fees; building classrooms; constructing water tanks at schools; and providing training on business skills and entrepreneurship.
World Vision has supported microfinance in Soweto since 1996. Work means dignity. It means food, education, health care. It means survival. KADET is a World Vision-affiliated microfinance institution that seeks to increase the number of small-business owners and grow the number of people who are accessing credit resources and business training. More than sixty percent of clients are women.
Thank you for partnering with World Vision Micro to provide Kennedy Kombo Muthami with a small loan for his clothing and retail business. Kennedy Kombo used his loan of $375 to buy more shoes to sell. He continues to make weekly payments of $11 on time.
With the profits he has earned from his growing business, Kennedy Kombo is able to buy supplies in bulk and pay for transportation.
Kennedy Kombo's 2 children continue to study in school. Thanks to Kennedy Kombo’s hard work, he will be able to provide a brighter future for his 2 children.
Thank you for supporting Kennedy Kombo's small business through World Vision Micro!
While Kennedy Kombo Muthami initially invested in his business loan by purchasing to purchase more shoes to sell, he has struggled to repay his loan. While we continued to work with Kennedy Kombo to help him reestablish his business, we regret to report that Kennedy Kombo has now defaulted on his loan.
Kennedy Kombo prays that he will someday be able to restart his business so that he can better provide for his family. Kennedy would like to sincerely thank the donors who partnered with him. Please pray for Kennedy 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.
