Expansion and purchase of farm inputs

Entrepreneur

About Me

I AM A KENYAN AGED 30 AND IN MY SECOND YEAR OF MASTERS DEGREE AT MOUNT KENYA UNIVERSITY NAIROBI CAMPUS AND WILL BE GRADUATING LATER THIS YEAR 2014. I WAS BORN AND BROUGHT UP IN MUMIAS, WESTERN KENYA. I COME FROM A HUMBLE BACKGROUND WHERE I TAKE CARE OF MY SEEBLINGS. I LIVE IN BURUBURU WHERE I WORK FOR EAST AFRICA SCHOOL OF THEOLOGY. I AM A GOD FEARING MAN CURRENTLY WORKING AS AN ASSISTANT PASTOR IN KENYA ASSEMBLIES OF GOD AND AM ALSO THE YOUTH CHAIRPERSON IN THE SAME CHURCH. I BELIEVE IN HARDWORK AND THIS GOES HAND IN HAND WITH PLANNING MY GOALS TO ALIGN WITH MY CAPABILITIES. I STARTED A SMALL BUSINESS OF MOTORBIKE FOR TRANSPORT COMMONLY KNOWN AS BODA BODA. CURRENTLY I HAVE ONE MOTORBIKE AND INTEND TO BUY ANOTHER ONE IN FUTURE. MY DESIRE IS TO BECOME A JOB CREATOR RATHER THAN A JOB SEEKER.THEREFORE I SEEK WAYS OF INVESTING EVEN WITH THE LIMITATION OF FUNDS.

My Business

The farm I already have is doing well and it has enabled me to cater for my needs and repay my loan. The income from that farm could only enable me to re-invest back on the same farm. I would desire to expand my farming project especially at this time when the rains are heavy. Currently I am not able to do this because the little money from my salary and motorcycle business was used to weed for the potatoes and the peas that are already growing. My loan will therefore be used to lease an additional acre of land at a cost of Ksh 10,000, purchase of potato seeds at a cost of Ksh 14,400 and purchase of fertilizer at a cost of Ksh 6,000. Ksh 2,500 will be used in tilling and harrowing of the farm Ksh 5000 will be used to buy insecticides and pesticides. I also intend to begin rearing chicken hence need 20,000 to build a structure and purchase some. I believe the project will do well and I hope to get a harvest that will give me Ks 60,000 after selling. This will leave me with a profit of around Ksh 20,000. I will use my salary and income from the sale of crops that are almost ready for harvest to repay the loan faithfully.

Loan Proposal

The farm I already have is doing well and it has enabled me to cater for my needs and repay my loan. The income from that farm could only enable me to re-invest back on the same farm. I would desire to expand my farming project especially at this time when the rains are heavy. Currently I am not able to do this because the little money from my salary and motorcycle business was used to weed for the potatoes and the peas that are already growing. My loan will therefore be used to lease an additional acre of land at a cost of Ksh 10,000, purchase of potato seeds at a cost of Ksh 14,400 and purchase of fertilizer at a cost of Ksh 6,000. Ksh 2,500 will be used in tilling and harrowing of the farm Ksh 5000 will be used to buy insecticides and pesticides. I believe the project will do well and I hope to get a harvest that will give me Ks 60,000 after selling. This will leave me with a profit of around Ksh 20,000. I will use my salary and income from the sale of crops that are almost ready for harvest to repay the loan faithfully.

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