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James is from Kenya. He has 1 child. He needs a loan of $400 The loan amount will be used to stock a variety of clothing and also pay for school fees.
James is from Kenya. He has 1 child. He needs a loan of $400 The loan amount will be used to stock a variety of clothing and also pay for school fees.
James sells clothing and textile materials. His main business challenge is the high cost of living that is affecting the purchasing power of his customers. He would like a loan to expand the line of clothing he offers as well as to help pay for his child's school fees. His hopes for an increased income would enable him to save money to buy a plot and build, educate his child and employ more people, thus creating jobs in his community.
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.
Mutomo is situated in a semi-arid area of Kenya. Nearly 75 percent of the residents live under the official poverty level of US$1.25 per day. Lack of fresh water is a major problem. There are no paved roads in the district. The main economic activities are small scale crop farming and keeping of drought resistance domestic animals.
Children are considered a valuable resource. A large family means more hands to help on the farm and ensures parents will be taken care of in their old age. With long distances between home and school and children needing to help on the farm, many do not get to attend school.
Irregular and uneven distribution of rain causes food shortages. Rain water is collected for drinking because water extracted through boreholes is most often too salty for consumption or irrigation.
Mutomo’s population of 33,000 is being assisted by World Vision to access clean water, strengthen food security and ensure HIV and AIDS care and support. Income-generating opportunities are provided for widows and orphans and vulnerable children.
James Kirangu initially invested in his business loan by purchasing a variety of clothing to sell. He also paid school fees.
Unfortunately, he struggled to repay his loan. Most of James' clients are farmers. After a recent drought, they could not continue to purchase items from James. As a result, the repayment of this loan became an unexpected burden for the family. James fell behind on his payments, and over time his business failed.
James prays that he will someday be able to restart his business so that he can better provide for his family. While we continue to work with James to help him reestablish his business, we regret to report that James has now defaulted on his loan. Please pray for James and his family during this difficult time.
Despite the fact that World Vision boasts a 97% 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 people trying to work their way out of poverty. Thank you for your understanding and your support of World Vision Micro.
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