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Kiptum is from Kenya. He has 4 children. He needs a loan of $375 to purchase stock for his business.
A father of four, Kiptum sells cereals in Moigutwo for a living to support his family. His main goal is to improve his business in order to generate more income to meet his family's basic needs. However the main challenge he faces is a lack of funds to purchase stock, which results in low customer turnout.
With a loan from World Vision Kiptum will be able to increase his stock of cereals including maize, beans, millet and cowbeans. This would allow him to better provide for his family. Kiptum plans to use the additional profits he earns to build his family a semi-permanent house.
In the future, Kiptum hopes to expand his business to Kabartonjo and Kabarnet town thus providing employment to members of 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.
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 Kiptum Komen initially invested his business loan into purchasing stock for his cereal selling business, he has struggled to repay his loan. Although we continued to work with Kiptum to help him reestablish his business, we regret to report that he has now defaulted on his loan.
Kiptum prays that he will someday be able to restart his business so that he can better provide for his family. Kiptum would like to sincerely thank all the donors who partnered with him. Please pray for Kiptum 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.