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Anderson is from Kenya. He has 1 child. He needs a loan of $250 to purchase more clothes to resell .
Anderson owns a small clothing shop where he sells different types of clothing to people in his community. He lacks the capital he needs to expand his stock to keep up with the demand of his clients. He also does not have the variety of clothing he would like to have in stock.
With a loan from World Vision Anderson will be able to purchase a wide variety of clothing for his shop and keep it well stocked. In the future he hopes to expand his business and venture into other businesses too. He will use the profits from his shop to be able to meet his family's basic needs and also have satisfied clients.
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.
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.
While Anderson Kaptum initially invested in his business loan by purchasing to purchase more clothes to resell, he has struggled to repay his loan. Although we continued to work with Anderson to help him reestablish his business, we regret to report that Anderson has now defaulted on his loan.
Anderson prays that he will someday be able to restart his business so that he can better provide for his family. Anderson would like to sincerely thank all the donors who partnered with him. Please pray for Anderson and his family during this difficult time.
Despite the fact that World Vision boasts a repayment rate greater than 98%, 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.
Thank you for your understanding, and your support of World Vision Micro. If you have any questions or concerns, please feel free to call our Customer Care line at 1-888-511-6444.