Loan to expand more land for tea farming
Joseph
Kiptenden, Kenya
56% repaid
Entrepreneur
Name
Joseph
Member since
October 2015
On-time repayments
286 installments • 66%
About Me
I grew up from a humble background being the last born. My primary school was about 2 kilometers where we used to walk every morning. This was so challenging based on my tender age.
My county (Kericho) is a tea zone area, therefore I grew up in such a wonderful tea zone area and I came to like it so much. I therefore developed a positive interest towards the crop and down in my heart I was longing in doing it in future.
After graduating from college, my father gave me a small portion of land to plant tea. I therefore worked on it until maturity where I started selling my tea to K.T.D.A for processing.
I have two children, a daughter and a son. They would like to be a Lawyer and Flight Engineer respectively. I do support their dream by making sure that they get quality education
My Business
Having been engaged in tea farming I realized that it can be a good source of income and thus I decided to do fully. I also do livestock farming mainly for milk production. I chose tea farming because the environment is favorable and it does well. Apart from selling the tea leaves for cash we do also have bonuses at the end of each depending on the kilograms one had delivered to the company.
From my profits I was able to buy a piece of land from my neighbor at Ksh. 600,000 and that is where I intend to relocate my family and build a permanent house. Reinvesting on tea farming has been one of my desirable dream because I am targeting 3 acre of tea plantation and from there I know I will be able to manage other emerging issues without any difficulty.
I use my salary in paying of my daughter’s fees and also paying for my own fees. I am currently pursuing Degree in Analytical Science (part-time) and I am sure completing my education will be a very important move in life.
Loan Proposal
Tea farming is a major cash crop in my country ,Kenya tea farming does very well in my area of resident this is occurs because we normally receive plenty of rainfall through out the year and it also does well in an acidic loam soil ,all this factors are available in my place. over the years i have practiced tea farming ,and it has been the main source of our lively hood. we normally sell our green tea leaves to Kenya tea development agencies in returns for payment every month and at the end of the year we normally receive bonuses at Kshs 46 per kilo of tea delivered to the agency. I intend to buy a peace of land to plant more tea leaves ,and this will consequently increase productions and more earnings.The price of the land is $ 2000, if my loan proposal is approved i will top up the loan to acquire that piece of land. Tea farming returns will sustain my family needs, it will also create employment to my neighbors to work on the farm as tea pickers ,hence their living standards will also go up.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$545.00
Date disbursed
Dec 9, 2016
Repayment status
Late
Projected term
55 months
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