Loan application for greenhouse organic farming

Joseph Mugo

Nakuru, Kenya

100% repaid

Entrepreneur

Name

Joseph Mugo

Location

Nakuru, Kenya

On-time repayments

359 weekly installments  •  61%

About Me

I am a tale-preneur selling project management consultancies and IT solutions online. I live in Nakuru County in the vast Rift Valley Province, Kenya. I started a business to cater for two needs. One, I decided to bridge a gap between computer literacy in the outskirts of Nakuru town and other skills possessed by youthful residents. In the outskirts of Nakuru town with improved internet connectivity, and no opportunities for more opportunities, leading young people towards the path of online working (work from home) as virtual assistants, data clerks etc. With better education credentials compared to the average population, I felt obligated to offer this business and bridge the gap especially for those seeking job opportunities for self sustenance. Secondly, I started the business for a profit motive and live to the dream of my university’s mission, that of creating employment. Though the business started small, it has expanded especially after sourcing for regular institutional clients where I offer IT support services, virtual book keeping and virtual assistance. The profits have been re-invested leading to the rapid growth. The loan/Pay it forward from Zidisha will actually Zidisha (expand) my business especially in the sense that it will allow me to purchase more computers and probably open another branch in an rural-urban town setup. This will be done after topping up the loan with some savings.

My Business

My business operates within the larger Information Technology Industry. My business offer support services such as internet bureau services, online research services, virtual assistance, computer accessories services, data processing services, Information systems maintenance services among other assistive services. Demand for computer services in this region is very high. Also high is the emerging market of service outsourcing. This has been occasioned by the new realization of the position of the information technology as a business aid. Most medium sized businesses are adopting IT infrastructures thus providing a good business environment for the providers of these services. Most firms, local and foreign, are adopting to outsource non core roles in order to concentrate on the core roles of their businesses. The services offered by my business include data handling, processing and execution, tailoring programs to the specific needs of an organization. Since competition is limited especially for the advanced IT services; the business has remained the preferred provider among a wide area. The reputation in working with both private and public schools has remained unquestionable, with a wide coverage of schools being my clients.
The business is profitable in the sense that I can source for materials cheaply making my sales for services highly profitable. The demand for training services, including simple IT package training, has proved to be a good source of revenue with very limited costs. The main challenge has remained the ever changing IT industry where new IT products are introduced even before getting to some potential clients. Bearing in mind that most of the business owners are older and computer illiterate, this dynamism of the IT industry has been a major hindrance to them. Despite this, i have a resolve to be at par with newer innovations to maintain relevance in the market.
As far as revenues are concerned, my business generates a total revenue of around Kenya Shillings 230,000. Costs include rent of Ksh.30000, salary and wages of about Ksh 64,000 and purchases worth around Ksh40,000. This leaves me with around Ksh 94000 per month. This amount is further apportioned to savings of around Ksh. 40,000, leaving around Ksh. 54,000 for my personal use as this is a sole proprietorship.

Loan Proposal

Out of the requested amount of about $400, I will use $100 to purchase high yielding none GMO tomato seeds for planting and another $150 for labor in preparation of the greenhouse garden as well as transporting organic manure to the filed. I will spend about $50 in training on how to improve my knowledge in organic farming. The remaining $100 will be used to cater for ongoing maintenance of the crop for the next 2.5 months. This is a third loan and I am sure I will be able to repay the full amount in a short duration. Please fund this noble idea. Thanks to all past lenders. You made it happen.

Feedback

3

None

None

  • TryingAndFailing    Dec 23, 2014

    Always pays on-time or early. Betters himself and the community around him. Not just a great borrower, but a great person who raises others up as well. Will lend again for sure!

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    • Joseph Mugo    Jan 24, 2015

      Thank you TryingAndFailing for the positive review. I feel obligated to repay as your loan has really transformed my life. I have posted my fourth loan. I will appreciate your financing. Thank you very much

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  • zako316    Dec 11, 2013

    Great borrower, will definitely contribute again if the opportunity arises.

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    • Joseph Mugo    Jan 24, 2015

      Thank you Zako316 for the positive review. I feel obligated to repay as your loan has really transformed my life. I have posted my fourth loan. I will appreciate your financing. Thank you very much

      Log in to reply • Share
  • take5    Jul 27, 2013

    Great entrepreneur! Paid back his loan quickly.

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    • Joseph Mugo    Jan 24, 2015

      Thank you take5 for the positive review. I feel obligated to repay as your loan has really transformed my life. I have posted my fourth loan. I will appreciate your financing. Thank you very much

      Log in to reply • Share


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Loan Info

Project Type

Classic Loan

Disbursed amount

$417.64

Date disbursed

Mar 19, 2014

Repayment status

On Time

Projected term

8 months

Cost to entrepreneur

Lender interest: $417.64 at 1.90% annual rate over 8 months = $5.80

Service fee: $417.64 at 5% annual rate over 8 months = $15.27

Lenders

AWOL

USA, United States

JimVandegriff

Trinidad, California, United States

Jonas Sweep

Utrecht, Netherlands

O

ochunshoney

charlotte, United States

calvero

Bergen, Norway

T

TryingAndFailing

St Paul, United States

Hedwich

Gorssel, Netherlands

Zal0m0n

Atlantis!!!! x), Mauritania

L

Leonora

TÄBY, Sweden

Sarasota

Sarasota, Fl, United States

Matching Fund

Sterling, United States

araidia

United States

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