I want to buy a 528-poultry egg incubator

Kiriungi Gathogo

Kayole,nairobi, Kenya

29% repaid

Entrepreneur

Name

Kiriungi Gathogo

Location

Kayole,nairobi, Kenya

On-time repayments

57 weekly installments  •  21%

About Me

I operate a business called iSy Solutions specialising in Desktop Virtualization. We help clients source, configure and install zero clients in their business, thereby saving them the cost of having to purchase standard PCs, reduce PC maintenance charges, and help make their IT environments eco-friendly as they only consume 5% of standard PCs. We also provide PC Networking services. Since we help the clients’ source for the clients, we do not tie up much of our capital and we charge a percentage of what the clients incurs when acquiring the zero clients.

My Business

I am an IT consultant specializing in Desktop Virtualization. I live in Kayole, single and currently studying a professional certification in Cisco Networking (CCNA 3) at Kenyatta University here in Nairobi. I am also pursuing a degree in Information Technology at Jomo Kenyatta University of Agriculture and Technology. I saw the need for virtualization in small and medium enterprises which would help them reduce their IT budget and use the savings in product development, research and staff retention.

Loan Proposal

Hi, Zidisha Lenders,
With the 60-egg incubator that i secured with my first loan, I have received numerous request to incubate poultry eggs for farmers in my area who would like to start their own poultry flock. I currently have a demand that I cannot effectively meet since my current incubator is limited in size and number of eggs it can hold in a given time.
The amount I'm currently charging KES 25 ($0.3 per egg for 21 days) has enabled me to save up and together with a soft loan from a friend I have about KES 60,000 ($680). However to mitigate from erratic electricity supply, I also need to get a power backup. The quotations I have manged to source require me to have at least KES 80,000 ($910). I therefore need around KES 20,000 ($225) to get the incubator with the power backup.
With the 528 egg capacity and me charging $0.3/egg, it will provide me with about($17.4) every 3 weeks. Additional income will be from me buying eggs from farmers (when I dont have orders for incubation) then incubating them for myself, then selling 1-day old chicks at KES 100 ($1.1). With 95% hatching rate and even with modest estimates(50%)hatching, I will have about 250 chicks that I can either sell at 250 chicks * $1.1 = $275 every 21 days or add them to my young flock.
Looking forward to your favorable consideration. Thanks in advance.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$220.81

Date disbursed

Mar 17, 2014

Repayment status

Late

Projected term

12 months

Cost to entrepreneur

Lender interest: $220.81 at 8.39% annual rate over 12 months = $18.53

Service fee: $11.05

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