I will use the loan in adding moe land for cultivating potatoes and buying more seeds, together with my savings

Entrepreneur

About Me

My home is located in Molo Town, just a few yards from Molo Equity Bank. I stay with my parents, one sister and one brother. My father works as a farmer and he has been doing farming since when I was young. I am 22 years and turning 23 this February. My sister and brother are in Secondary school level.
I did my Kenya Certificate of Secondary Education (KCSE) in 2010. After completing, I decided to join my father in doing farming. I assisted him for one year in farming in 2011. In 2012, I decided to start doing farming on my own. I have been planting potatoes and peas. I also lease land for the farming. I decided to venture in farming because my father had not raised enough money to take me to college while paying school fees for my brother and sister at the same time. Also, I have seen many neighbors and people around who have really succeeded in farming. They are very successful in life. My father has succeeded greatly over the last two years.
At the moment, I use my earnings in supporting my venture in farming and also my personal expenses. Currently, I am cultivating half acre of peas and one and quarter acre of potatoes. I am eying a government scheme in the area which will be of great help in expanding my business. The scheme allows one to lease 1 acre of land for 5 years for just Kshs 10,000. You leave there after they plant trees. I have also noted that the potato farming business can be very rewarding. I had cultivated one acre last year from August to December and it gave me a profit of Kshs 80,000. I would like to expand the venture through Zidisha, which is the greatest opportunity I have ever seen in my life. I started my farming business using my savings and loan from my father. I have tried borrowing loans from other institutions but they seek security as collateral, which I do not have. But I thank Zidisha for the opportunity.

My Business

I will be able to repay my loan from the farming business. Potato farming, in particular is very paying. Recently, farmers in our area have managed to get the best variety of potato that is highly on demand in all towns in Kenya, called Changi. This variety is very productive and is preferred to all other varieties by both farmers and consumers. I have acquired that variety and to say the least, my last years product was booked by a buyer while steel in Shamba before the time for uprooting. This is because this variety is highly on demand.
Last year, my input into the one acre farming was around Kshs 27,200. My father had provided my with potato seeds which I repaid after selling the potatoes. In total, the potato faming cost me Kshs, 41500, after paying for the potato seeds. I managed to sell the produce in my shamba without even taking to market at Kshs 122,700. If I was to take the produce to market myself, I know the reward would have been much higher. This means that I had a profit of more than Kshs. 80,000. After deductions, I managed to add lease three-quarter acre, on top of the one acre that I was cultivating last year. I decided to diversify risk by planting half acre of peas. I have planted one and quarter acre of potatoes. I am expecting to add the acreage of potatoes to three acres by December 2014. Those who cultivate large trunks of land have much to gain. I want to join them in the near future.
The good thing is that climate in Molo is very supportive and the lands here are very productive. Also, products as potatoes are in high demand now that there are other areas of Kenya where people are starving or they are unable to cultivate. Also, the risk involved in potato farming is quite low. It is not easy to find somebody who has negative returns unless he neglects the land after planting.
I promise that I am going to repay the loan as it will be required. I have seen that the loan and interest rates are very friendly. I already have some savings which I keep in bank in case anything happens or in case of an emerging opportunity. I have learnt that if I build reputation, Zidisha and lenders can support me to realize my dreams sooner than I thought. Thank you for this great opportunity that you have given us.

Loan Proposal

Thank you Zidisha staff for considering my application. My area where I live is very productive and the biggest producer of potatoes in kenya. Innitially, I will use my savings to repay my loan. I always keep some savings in equity bank to ensure that I take advantage of any arising advantages. I will purchase 22 bags of potato seeds, the best variety called changi. I expect a return of more than hunderd bags from it. Our land is quite fertile and rain in the area has started. Thank you lenders for your support.

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