I will use the money to increase stock for my shop. thanks to zidisha and all lenders for giving me opportunity to expan...

Entrepreneur

About Me

My name is Joseph Mbogo. I come from a family of five, three brothers, mum and dad. I am the second born in our family. I have a passion for business. I thank God for giving me strength through trying moments and for His blessings. I have always had a passion for farming and I was motivated by my former colleague who encouraged me to practice farming and to end food security in our country and earn a living. I graduated from the University of Nairobi in 2011 with a bachelor's degree in economics and sociology. Through my savings and borrowed small loans from my relatives, I started farming and it in 2012 on a quarter piece of land. I harvested 10 bags and earned a profit of $45. This encouraged me even more I I decided to invest in farming to better my future. Farming has improved my life especially from zidisha loan. I am very grateful for how you have assisted us and I look forward to maintain the same trust I kept before.

My Business

I am proud to be a farmer and potatoes performs very well in our region. Potato is a staple food in our country and currently is being used to feed starving populations in drought hit areas. I started on an acre piece of land by leasing government land where trees have been cut down just as a give a trial, my first harvest gave me hope to continue farming. Zidisha gave me my first loan and it has helped me so much. I can attest much of my progress has been due to the loan you lent to me. I planted potato seedling on an acre piece of land at $22.5663, and leased the land for $45.1326. It incurred me field operational costs of $ 78.9820. I just sold the potatoes recently and made a net profit of $ 293.362. The total profit was $ 631.856, and I incurred total expenses of about $ 338.494 which included transport, labor, fertilizers, potato seedlings, chemicals to protect the plants from scotching effect of morning frost, and other miscellaneous expenses. The potato farming has little competition since the crop itself is a staple food and is largely consumed in Kenya. There is always a demand for this crop even before it is mature enough for harvesting. Some even ordered my potatoes in advance since the buyers are competing for it. This crop cannot let me down and I am convinced because the climate in our place is very good for planting potatoes. When you will give me another opportunity, I am confident that I will be in position to repay. I also have some saving as a back up incase there will be uncertainties but I am optimistic that I will earn good profit. I thank zidisha and all lenders who supported me in my first loan and for those who did not; I am honored to invite you to fund my current loan. Thank you.

Loan Proposal

I will use the money to increase stock for my shop. This loan will help me so much because it will boost profits. There have been commodities which the customers have raised demand for them and this loan will provide customers' satisfaction they want. There are goods that the customers want on daily basis and i believe the loan will help me sustain their demand. Currently, i am earning a total estimate of Ksh. 5600 gross profit on a weekly basis but when i get the loan, i will be in a position to make more profit and boost my business. I believe zidisha will make my dream come true by expanding my investment opportunities. I have plans to open a cereals store and this will require a substantial capital. I believe your loan package will accelerate realisation of the long-term goals. I am sure to pay the loan since my business is ongoing and stable. The average weekly profit currently is about Kshs. 3,750. I will commit Kshs 1000 to repayment of the loan every week. i will be able to repay since i have no other pending loan. I was able to pay the loan i borrowed from my relatives in due time. I also do potato farming as an alternative source of income, this money has helped me when i was stating my retail shop. I still do potato farming and returns will also support me to repay the loan without delay. I want to thank all Zidisha staff and lenders for the work you are doing.

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