Entrepreneur
Name
Richard
Member since
April 2016
On-time repayments
272 installments • 76%
About Me
I am Richard Matundura was born in Nyanza province in Kisii County .I was raised by my parents although now Iam orphan. I went through primary Education and passed to go to Secondary despite the posed challenge of school fees. My parents were peasant farmers and depended on farming and menial jobs thus denying me the chance to college or professional training instead I started working as a shamba boy to help support my parents .I managed to get money to join college through my little saving but by the time i was clearing, i had arrears so I didn't get my certificate. I had to hustle to pay my arrears and obtained my certificate. I also paid my computer studies, diploma and now doing my master degree in Kisii university
My Business
My business of selling Dry maize at my Posho mill . I had a dream of starting a posho mill but I didn’t have enough money to purchase maize. my first loan from Zidisha I used to set up a fish pod although did not pick up well due to water shortage challenges but I used the remaining money to start a maize buying and selling which picked up well enabling be to pay my loan well .i intend to get the Fourth loan to expand my maize business so as to make higher profits.i intend more maize and beans this year dry it keep in store up to a good season to selling.the demand for such products is high at my business now.I chose this type of business because iam able to manage easily and my customers are available.
my costs are posho mill repair and maintenance,salary for my workers,electricity and annual business permits .
My business profits are used mostly for savings,paying for my family needs and reinvestment for the future.
Loan Proposal
i already have a posho mill and and sell dry maize. i would like to use the profit from those businesses to start up fish farming business. Fish is on high demand in this area but supply is still low
When l get the loan i will use it to buy 1000 fingerlings at 14 kenya shillings each.This will cost me Ksh 14,000
I will need fish meal to feed the fishgerlings. The fingerling will feed on one and haf bag of fish meal so buy the time they mature they will have fed on 10 bags of fish meal which costs ksh 1000 per bag i will spend total of Ksh 10,000 on fish meal.
After maturity i Expect to harvest 950 grown fish which i will sell at 250 per kg. I exepect the fish to have acquired on average 300g per fish
Sales 950 fish will weigh aproximately 316 Kgs if asell at 250 I will make sales of kshs.79,000
Profit 79000 minus 24000 is 55,000
I will plough back the money into the fish business by making more pond and increase number of times i buy new bunch of fingerlings so that i may have constant supply of fish from my fish farm.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$242.00
Date disbursed
Apr 22, 2016
Repayment status
On Time
Projected term
12 months
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Angela Newton Dec 26, 2019
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