Your gift to help a hardworking entrepreneur will double in impact thanks to a generous World Vision partner.
Eunice is from Kenya. She needs a loan of $375 to purchase shoes .
Eunice sells used shoes to earn a living. With her loan, she would like to purchase more shoes to increase her stock. With increased stock, she believes she will increase her sales, and therefore, her profit.
The space where she sells her shoes is very small, and she hopes that in the future she can upgrade to a bigger premise. Eventually, Eunice would like to expand her business to other towns as well. With any additional income, her family’s standard of living will increase and their financial means will become more stable.
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.
With the loan from World Vision Eunice was able to purchase enough secondhand shoes to stock her shop. This has greatly improved her profit margin. On average she is now making three times more than what she was making before!
With the success of her growing business, Eunice has been able to stay current on her loan by making all of her loan payments on time. She is also one step closer to reaching her business expansion goals. Thank you for supporting Eunice and World Vision Micro!
While Eunice initially invested her business loan by purchasing shoes, she has struggled to repay her loan. The repayment of this loan became an unexpected burden for the family. She fell behind on her payments, and over time her business failed. Eunice prays that she will someday be able to restart she business so that she can better provide for her family.
Despite the fact that World Vision boasts a 98.7% repayment rate, 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.
We regret to inform you that Eunice has defaulted on her loan but hope you will continue to support her by praying for her business and family. Once again, thank you for supporting World Vision Micro.