Loan to expand my indigenous chicken farm

James Wambugu

Ndenderu, Kenya

100% repaid

Entrepreneur

Name

James Wambugu

Member since

June 2014

On-time repayments

308 installments  •  81%

About Me

I am James Wambugu, a Kenyan IT professional, but with a passion for farming.
I was brought up in a rural setting, where indigenous chicken was reared as a hobby as opposed to a commercial venture. Am also venturing in the transport industry which has a lot of potential.
I am currently working as an IT officer with a logistics company, and at the same time rearing indigenous chicken at my rural home.
I am married, with two daughters.
During my free time, i watch a game of football with friends. I am a diehard fan of Arsenal FC.

My Business

The current pandemic has dealt a blow to many businesses and mine was no exception. My motorbikes were unable to bring in any income, as their hours of operation coincided with the curfew hours that was put in place by the government to curb the spread of Covid-19.
I had no option but to sell them.
This time, i want to buy land, with the objective of settling on it and doing commercial poultry farming. I have identified a piece of land that is in a strategic place. I have done due diligence and it is genuine. The land is costing $ 5,000.

Loan Proposal

If i get this loan, i will use it to expand my flock.
56 USD will be used to buy additional flock. I will buy 50, one day old chicks at a cost of 1.1 USD each.
Another 75 USD will be used to expand the chicken scoop, to accommodate the new flock.
110 USD will be used to buy commercial feeds for the first four months. The rest of the money will be used to buy commercial feeds that will be used as complementary food together with locally available feeds during the subsequent months, until they start laying eggs.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$296.51

Date disbursed

Nov 24, 2014

Repayment status

On Time

Projected term

7 months

Cost to entrepreneur

Lender interest: $296.51 at 6.64% annual rate over 7 months = $11.68

Service fee: $6.44

Lenders

investor

Candiac, Canada

C

czeisler

Hochheim, Germany

tmisch

San Jose, California, United States

SeeMeeFi

Ontario, Canada

T

tuttifrutti

tulare, United States

ads68

Melbourne, Australia

S

SourceWebDesign

Nieuwegein, Netherlands

Cricketca

San Jose, United States

P

peaceandcarrots

Hilltop, United States

sderickson

Berkeley, CA, United States

T

thebonseung

Republic of Korea

J

JacobvdW

Netherlands

L

leumasmc

United States

KM

Kirsty M

United Kingdom

John Altimate

Staffordshire, United Kingdom

MA

Mansoor Ahmed Mughal

United Arab Emirates

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