37 installments • 38%
My name is Wafula Benard Simiyu. I was born in Kwanza location, Kwanza division of Trans Nzoia county on 14th June 1977. I joined Testboune primary school in 1983 to 1990. I later joined Friends' school Kamusinga and completed my ordinary level exams in 1996. I later joined college in Kenyatta university for my Bachelor of education (Arts) and completed in 2009. I have been teaching in various schools and currently I am teaching in kimangu High school in Rongai district.
Other than teaching, I practice dairy farming with my three grade cows on a three acre piece of land. I am currently milking all the three cows. Each cow produces 5 litres of milk, totaling 30 litres per day since we normally milk twice a day (at Ksh 30x 30 = Ksh 900). Monthly total income from milk is Ksh 27,000. Monthly total expenditure is Ksh 5,000, inclusive of drugs and spraying.
I intend to use the loan to buy one more dairy cattle to make them four in order to increase on my milk output because of the recent market expansion whereby i am selling to my neighbors and also sending some to the Kenya Cooperative Creameries (K.C.C) where i am paid monthly.The cost of the dairy cow is Kshs. 45,000.
Besides this,i also want to build a store for the preservation and preservation of farm yard manure from cow dung and left over feeds because of recent i have realized that this is also a very lucrative business that enabled me to pay my first loan even before the required time.The approximate cost of the store is about Kshs. 40,000.The remaining Kshs.15,000 will be used for paying the workers who will be doing the work.The combination of dairy farming and selling farm yard manure will enable me expand my business and at the end i know i will be an established entrepreneur and a successful businessman.
Oct 24, 2013
Cost to entrepreneur
Lender interest: $1,176.94 at 3.80% annual rate over 27 months = $102.74
Service fee: $95.43