buying of fertilizers and hiring labour force for potato farming
Vincent Kipkirui
Kapsimbeywo Village, Kenya
46% repaid
Entrepreneur
Name
Vincent Kipkirui
Member since
November 2013
On-time repayments
157 installments • 16%
About Me
I am 23 years old a student at kisii university college studying commerce and business. I joined campus in the year 2010 and know i am in fouth year, determined to do my level best and graduate next year 2014. I completed my kcse certificate in the year 2009 in the local district school called litein boys high school. I passed very well and scored a good grade of B+ and this enabled me to secure a commerce course in university. My parents live in a village called Kapsimbeywo, Keringet Division Kuresoi South in Nakurru county. They are peasant farmers and i am proud of their hardworking which see me and my other young siblings in school. I am a first born son of seven. Currently being a student i am an entrepreneur too, running a small income generating project to help my parents pay school fees.
My Business
I am operating farming business activity at our local village where i grow potatoes and sell them on harvesting to local markets and community members. I started this farming activity 10 months ago when i realised the potentiality of the business. My parents gave me 1/2 acre piece of land when i requested them to support me in taping this opportunity. The cost of production goes upto ksh 15000 which i got them from friends and well relatives. The maturity period of this potatoes crops takes exactly three months upon when uprooted i sell to local markets. The total output of this piece of land goes to upto 40 sags and each sag cost ksh 4500 in local markets. I get seasonal laborers from local people whom i pay them in hourly rate. The challenge i am facing is market fluctuating price and climatic change which adversely affect the production. Another main challenge is accessibility of funds to run this project. If get help and financial support i will expand the farming business to further increasing the piece of land to more acres.
Loan Proposal
I will use the loan to buy 5 bags of MEA fertilizers each costing ksh.3000,when you calculate this will come to a total of ksh.15000.This will be a great boost to me since i already have in hand potato seedlings .In our place assessing fertilizers is a bit challenging since we as farmers still viewed as being expensive .The remaining amount of this loan am requesting I will use them to hire four laborers to assist me in planting day.This is because am intending to plant two and half acres which is a bit large and yet i will be using hand labor .Each laborer will averagely cause me around 1500 kes.
The benefit am projecting from this mini investing is to harvest at-least 25 bags of potato.I will be selling one bag at 2500kes .When you calculate it will grossly give me kes 62500.The net profit i will realize will be 62500 less total costs incurred of 34500kes,giving me kes28000.
Okey my humble and sincere request to zidisha team is to lend this much am requesting since I do not have money remaining to complete this project.Once again thank you for earlier loan because it has made me unstoppable in this business.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$297.00
Date disbursed
Apr 11, 2014
Repayment status
Late
Projected term
34 months
Other loans
Lenders
United States
United States
United States
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