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Martin is from Kenya. He has 3 children. He needs a loan of $150 to buy flour, baking powder and sugar.
Martin is 33 years old and runs a small business baking bread, cakes and doughnuts to sell to customers in his community. He lives in World Vision's Matete region in Kenya. Martin has sold bread, cakes and doughnuts in this area for the last 2 years. He also has 2 employees who help him run his shop.
Martin has requested a loan from World Vision to expand his business. With the loan he would like to buy flour, baking powder and sugar.
Martin and his wife have 3 children, of whom 2 are currently studying in school. He also cares for 1 additional dependent in his home.
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.
World Vision initiated a partnership with the 59,000 residents of the Matete community in October 2007, beginning with a thorough assessment and project design phase. People from the region identified their greatest needs to be food security, education, HIV and AIDS response, and health and sanitation. Today, they have access to microfinance loans.
Many entrepreneurs in the developing world are unable to access loans from traditional banks because they lack collateral or credit history. World Vision’s economic development activities help families by providing loans and financial services that allow the enterprising poor to access capital, markets, training, and new technology. As a result, parents are better able to build their business and provide for their children.
Martin Kwemoi does not have any updates yet.