Chicks so that i can expand my business

Muendo

Nairobi, Kenya

100% repaid

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Entrepreneur

Name

Muendo

Member since

March 2015

On-time repayments

52 installments • 17%

About Me

Iam kenyan young man aged 25 years,a first born in a family of 6, I attended musau imale school were I scored 404out of the possible 500 marks in kenya certificate of primary education,I proceeded to join kitondo school for my secondary education were i attained a mean grade of (A-),thereafter I joined Technical university of kenya for bachellor of science in applied statistics in which am waiting for graduation in December this year.

My Business

my business entails rearing of chicks,I started by buying 20 chicks were each of them was going for fifty kenya shillings that was was 1000 kenya shillings,after maturing i was able to sell each chick for 500 shillings accumulating 10000 in the process then I bought 100 chicks for 5000 kenya shillings,my business has continued to grow each time i sell my my products and now i have 230 chicks.The demand for my products is very high because there those people who dont take red meat and therefore are advised to take chicken or fish and therefore in an area where there is no fish chicken is the only alternative and especially in big hotels.I chose this kind of business because it was an ideal business to start with little capital I had.my costs take around 60% of my turn over while profits are about 40%.,I use my profits to pay my college and the rest to expand my business.

Loan Proposal

I will use the loan to buy more chicks for my business and also use some of the money to put up some structure to accomodate the increasing number of chicks,this will ensure that Iam able to meet the increasing demand for chicken,i also expect my profits to shoot by 10%.