308 installments • 81%
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.
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.
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.
Nov 24, 2014
Cost to entrepreneur
Lender interest: $296.51 at 6.64% annual rate over 7 months = $11.68
Service fee: $6.44