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Kipsang is from Kenya. He has 2 children. He needs a loan of $500 to buy more cows.
Kipsang buys and sells cows for a living. Currently, he has limited funds to run his business. With his loan, he will purchase more cows to raise to sell once mature. With increased cows, he hopes that his income will also increase. This will help his family have more money to buy basic needs and pay for schooling fees to ensure his two children earn a good quality education.
In addition, he hopes to expand his business and start additional business endeavors in the future to supplement his income. The additional income will help him and his family become more financially stable and improve their quality of life.
The Agriculture business sector covers all farming and livestock activities. Some entrepreneurs request loans to help in securing supplies and equipment. Others want to buy more animals to breed or purchase feed and medicines. The majority of our loan clients live in rural communities where agriculture is already understood as a business model. It is for this reason that approximately 50% of our loans are in the agricultural sector.
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.
Kipsang used the loan to purchase more cows, it has helped him to get enough funds to expand his business. The main challenge he has faced is the price fluctuation in cows and finding a good price to sell them.
He is paying his loan back on time. He would like to say thank you for helping him with his business.
Kipsang Langat has successfully repaid his small business loan. He invested the $500 into his livestock business by purchasing cows to raise and sell for a profit.
Thanks to the loan he received, Kipsang was able to use the profits from his business to purchase food for his family, expand his current business, and start a new business. In the future, Kipsang aspires to earn enough to start a new business, expand his current businesses, and take out another loan.
Kipsang's two children continue to study in school. Because he was able to invest in his business, he will be able to invest in his family.
Thank you for investing in the power of hardworking people, like Kipsang, through World Vision Micro. These funds are now available to help other entrepreneurs in Kipsang's community.