Loan to buy a generator for pumping water

Titus

Kololo, Kenya

0% repaid

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How it Works

Entrepreneur

Name

Titus

Member since

February 2016

On-time repayments

42 installments • 71%

About Me

I am the third born in a family of 7 children ,I went to ebusakami primary school and then joined sigalame boys,I passed well my KCSE and scored B-, I am currently pursuing degree in business administration.I started my farming business after completing my secondary education,my fathers cows died and he could not therefore pay my fees,I borrowed money from my uncle that I used to buy seeds and asked my family members to help me prepare the farm,however since I was practicing rain fed agriculture ,i could not get more because of glut in the market.I currently reduce my production during rainy season and increase production during drought and irrigate my crops to get premium prices.
Our land is hilly and most people keep livestock for living and few practice farming.
I love reading novels,travel ling,nature walk and singing.

My Business

I provide vegetable to my customers who are mainly members from my community,and a neighboring school,the demand is very high and I sometimes send away customers.
I choose farming business it is easy to manage and run as well as it required less capital to start.
my monthly typical costs are $150 for manure and fuel for generator and my monthly revenues are $400. I use the profits from the business to pay my fees and take care of my mother.

Loan Proposal

I am happy to come to you again dear lenders to request for finances to facilitate purchase of a generator that I would use to pump water into the reserve tank.The generator will be low in fuel consumption and would help me ensure there is enough water for watering my crops during drought. The generator would cost $500 and I would use money from my savings to top. Thank you in advance God bless you.