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Job is from Kenya. He has 3 children. He needs a loan of $625 to purchase electronics for resale.
Job supports his family by operating a small retail electronics store, selling a variety of products related to electronics. His biggest challenge has been insufficient capital to properly stock his store. Because of this, he has been unable to expand his business to a point where it is growing and becoming more profitable. He is motivated to work hard to improve his business so he can make a better life for his family.
A loan from World Vision will allow Job to increase his store inventory. As a result of improved sales, he will earn additional income which he plans to reinvest in his business. He will be able to provide the daily necessities for his three children. In the future, Job plans to continue to expand his operation, selling electronic goods on a large scale and employing young people 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.
Riruta is in the Nairobi area of Kenya. The climate is moderate and the differences between seasons is minimal. It is a lower income area where the income is earned from industrial labor, construction, household chores, small scale trading and vocation work such as carpentry, masonry, and tailoring. More than 65,000 people live in Riruta.
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. 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.
World Vision focuses on education, immunizations, HIV and AIDS prevention education, food security, and sanitation.
While Job Wainaina initially invested in his business loan by purchasing electronics for resale, he has struggled to repay his loan. The repayment of this loan became an unexpected burden for the family. Because of this situation, he fell behind on his payments and over time his business failed.
Job prays that he will someday be able to restart he business so that he can better provide for his family. While we continued to work with Job to help him reestablish his business, I regret to report that Job has now defaulted on his loan.
He is thankful for the loan. Please pray for Job and his 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 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.