Rotary Club of Rancho Cotati

 

Kiva Micro-Loans

Micro-lenders provide poor communities access to the capital they need to make micro-loans to women who are working to develop or expand a small business. In many of the poorest regions in the world, micro business creation is the only way for families to escape poverty and build a better future for their children.

As clients repay their micro-loans, the funds are recycled into new loans, thus multiplying the number of poor people who can begin their journey out of poverty.

Managers of the local loans work directly with the borrowers to make sure the loans are put to good use as well as support businesses and the whole village in which the business is located.

Our club has donated $800 in micro loans, here are some of the results:

Joyce Wanjiru is a 57 year old married lady. She is a farmer and sells food items (vegetables, potatoes) and plastic items (bowls, cups, plates) in her retail shop, which is her primary business. She has been running the shop for about ten years and she earns a profit of about 20,000 Kenya shillings per month. Her customers are average income earners. In the picture we can see her with the secondary income base, which is her dairy cow whereby she also sells milk to her neighbours.

She is among the founding members of her borrowing group and this will be Joyce's fourth loan with KADET. She wants to use the loan to buy additional food items and plastic containers to sell to customers in her retail shop.

She hopes to expand to a general shop that includes selling hardware and to manage a bigger farm with about eight cows to maximize her income opportunities.

 

Esther is 25 years old and married with a four-year-old daughter named Linet. She runs a salon and beauty shop called Prestige, offering chemical treatments, hairpieces, braids, and weaves. She's been in this business for four years and has three employees. She was previously employed in another beauty shop. She says that her business is active and her clients are loyal. She successfully repaid a previous loan from Faulu for Kes. 35,000 and requested this loan for Kes. 80,000 to buy weaves, braids, a dryer, relaxers, and hair food.

She describes herself as hardworking and honest and says that since she became a member of Faulu she has expanded her business and improved her living standard. In the future, he hopes to build her own home and start a beauty school.