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Christine is from Kenya. She has 2 children. She needs a loan of $525 to purchase bar soap, ground nuts, and beauty products.
Mrs. Christine James is in the retail business, selling a variety of consumer goods.
Her hope is that the loan will provide the capital that she needs to make her business grow.
The increased sales will generate new revenues that will help provide food for the family, and the children will be able to go to school.
Mrs. James plans to grow her business, and to eventually sell wholesale.
With the additional income, she will add more inventories to her stock, pay the fees for her children's school, and be able to provide for the family's basic needs.
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.
Christine used her loan to purchase bar soap, ground nuts, and beauty products to sell. She is hoping with her increased inventory that she will begin to earn a profit. Christine is currently making her loan payments on time.
Thank you for supporting Christine and World Vision Micro!
While Christine initially invested in her business loan by purchasing to purchase bar soap, ground nuts, and beauty products, she has struggled to repay her loan. Harsh weather in her community prevented her from receiving good returns from her business. As a result, the repayment of this loan became an unexpected burden for the family; she fell behind on her payments, and over time her business failed.
Christine prays that she will someday be able to restart she business so that she can better provide for her family. While we continued to work with Christine to help her reestablish her business, we regret to report that she has now defaulted on her loan. Please pray for Christine and her family during this difficult time.
Despite the fact that World Vision boasts a repayment rate greater than 97%, 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.