Inventory for farm tools

Aaron Oteba

Amagoro, Kenya

100% repaid

Entrepreneur

Name

Aaron Oteba

Member since

December 2014

On-time repayments

7 installments  •  14%

About Me

i was born from a humbled back ground in central kenya.i later joined a formal education in the central region from early childhood education to till i finished my primary level with school fees hardships but later passed with an average marks to qualify for secondary education.i had a terrible start with secondary education but with kind help of my uncle i managed to go through the system successfully and ended up passing my final secondary education with flying colours.
its through my humbled background and struggles that made me to understand the need of being self reliable.i started selling candy sweets and balloons during school occasions and in day social joint where kids are readily available for my market.i started my small business from the help of my friends and personal settings.
i live in Busia county,Malaba Kenya bordering Uganda.its occupated with a marginalized tribe of the iteso from karamoja in Uganda who are deeply rooted to their culture and traditions.
my hobby is touring places and browsing over the internet for worldwide updates and the need to expound my knowledge on various issues.

My Business

i have formed ron farm of which i intend to rise a variety of traditional and specialty crops on our anticipated purchase of the 2 acre farm (an inherited farm) located on malaba road, busia county. This property has 1 acres of tillable cropland. The remaining acres is lightly wooded.

This farm farm will take advantage of the sterling reputation of great grand father who was a famous. has developed as a grower of superior quality vegetable products, while avoiding the drawback of his surly disposition.

Plan of Action
my younger brother will be the primary grower and intends to raise about 5 different varieties of vegetables that should be available from late May through mid-October. These crops will be sold through an open air market and supplying to neighbouring institutions.
Crops will also be for sale at the farm.it is anticipated that 2/3rd of the sales will occur on farmers markets.

Labour Force
For the first few years we will be the only employees, occasionally supplemented by unpaid family help and interested groups and freinds.

Growth Plan
We would like to grow this operation fairly rapidly.i anticipate to encrouch to the remaining acre in a span of six months. Additional growth in future years will depend upon the ability to rent additional cropland that i intend to buy as we anticipate the current cropland to yield profits. The farm markets will be primarily used as a location to sell excess vegetables. Future plans are to grow and sell “ethnic produce” based on a marketing trends in the markets. This may require adding some hoop greenhouses to start crops sooner and potentially run later in the years to come.
i chose to venture into this business due to the market gap in the bordering counties.and due to the ready available land it will only require me a few coins since i already have some saved in my bank account.
the profits will tipicaly be used to expand the farm through the first face of farming and later on enroll to a college.
i would like to now expand to doing more vegetables if given the loan because i see a bright future in this.

Loan Proposal

i intend to buy a hoe, rake,insecticide sprayer and vegetable seeds and seedlings 43.95$.
it will give me an upper hand in cultivating the farm in time and leveling of the farm to get an even and suitable farm layer for efficient farming seedling grownth.the resultant yields will anable me to help the community around me economically depending on the income earnerd.
due to improved productions tools profits are likely to increase to averagely 60$ per harvest session of a targeted season.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.08

Date disbursed

Jan 14, 2015

Repayment status

On Time

Projected term

7 weeks

Cost to entrepreneur

Lender interest: $50.08 at 9.68% annual rate over 1 month = $0.71

Service fee: $0.27

Other loans

Lenders

B

betagal

Geneva, Switzerland

McJulio

New Jersey, United States

P

Prometheus

Duisburg, Germany

V

VeraG

Germany

Jamie

Dublin, Ireland

Haroldo Ramthun Junior

Pomerode - Santa Catarina - Brazil, Brazil

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