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David is from Kenya. He has 1 child. He needs a loan of $325 to purchase movies and music.
David sells music and movies to make a living for his family. He wants to expand his business so he can compete with larger, more established retailers. By improving his business, he will be able to earn more profits and provide a better life for his family.
David is requesting a loan from World Vision to purchase more music and movies to sell. By increasing the variety of his inventory, he can appeal to a wider audience and increase his customer base. With the additional income he will earn from this improvement, David will be able to improve living conditions for his family. David has one child.
In areas where the poor live alongside the more affluent, businesses in the service sector can be very successful. Services include flower cultivation, tailoring/sewing, transportation, repair work, beauty salons and barber shops, and restaurants. Loans are needed to begin, expand, or sustain business with tools and supplies. Loans given to entrepreneurs in the service sector account for around 7% 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.
While David initially invested his business loan by purchasing movies and music, he has struggled to repay his loan. The repayment of this loan became an unexpected burden for the family. He fell behind on his payments, and over time his business failed. David prays that he will someday be able to restart he business so that he can better provide for his 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 David has defaulted on his loan but hope you will continue to support him by praying for his business and family. Once again, thank you for supporting World Vision Micro.