Loan to complete my university tuition fees
Michael
Ganjala, Kenya
100% repaid
Entrepreneur
Name
Michael
Member since
February 2016
On-time repayments
50 installments • 68%
About Me
I am a born again christian aged 23 , I am the forth born in a family of six children. I went to Mundika boys primary and joined St Mathias Busia secondary school. I then joined KCA university for Degree in business management.
I started my farming business to support my university education. The main problem I faced as a young entrepreneur was start up capital and fluctuating market prices. I took a loan from a friend which I invested in horticulture and the business paid off well. I learnt with time the market trends and have been able to grow my crops at the correct time and not when its convenient . I practice market led agriculture.
I have one baby boy named John,he is 2 years old and very aggressive and loving,.
I am a big soccer fun and spend my free time watching soccer.
My Business
I provide horticulture crops to my customers who include schools,hospital and households,I mainly grow traditional African vegetables, kale ,cabbages and spinach.
the demand for these crops is high due to high population and less farmers. The demand far outweighs the supplies and that's why I am planning to expand my farm to tap the opportunities.
I choose farming business because it was highly profitable and easy to manage.
My montly costs are $160 and my monthly revenues are $400 . I use 50% of my income to pay for my university fees which I will clear in april these year. I then spend the rest on business expansion, and supporting my siblings education.
Loan Proposal
Dear lenders, due to my sick mother,I was forced to chop part of my university fees to carter for her medication ,I am glad mum is now well,however I am in need of money to help me clear my university tuition fees. I expect to complete my degree in April so that I can fully concentrate on my agribusiness venture. I would use the $62 I would receive to add my $200 savings so that I clear the $260 fee balance. I would appreciate you help and thank you in advance always . Happy week.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 11, 2016
Repayment status
On Time
Projected term
24 months
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