Loan to expand my maize farm

Eugene Wafula Nyongesa

Burumba, Kenya

0% repaid

Entrepreneur

Name

Eugene Wafula Nyongesa

Member since

December 2014

On-time repayments

113 installments  •  1%

About Me

My name is Eugene Wafula,I am the third born in a family of 9.five boys and two girls. I was raised in Busia county and attend Township primary school and township secondary school.
After completing my secondary schooled I searched for Jobs with no success.I later decided to do farming so as to save for my further studies. I started by tilling half an acre and then invested the proceeds back to the business. I have since expanded to one acre and will still expand the farm if i get more resources.
I come land dominated by Bukusu people,the most unique culture in our community is male circumcision. It is carried out after every two years and by elders.
During my free time I like playing soccer and dancing.

My Business

My business involves growing maize for selling. I grow maize twice in a year.The demand for maize is always high though the peak is from February to august.The demand is always high because maize is a staple food and therefore consumption is very high.
In a season (3 months)i spend $130 for fertilizers tilling and labor. I sell my produce gradually throughout the year and so makes between $100-$500 depending on the month of sell.
I use my profits for saving for school fees and taking care of my parents

Loan Proposal

Dear lenders ,I am requesting for a loan to help me buy me expand my .I will use the whole $100 to prepare yet another 1 acre in preparation for march planting season.This loan will come at the right time since I have been yearning for this expansion but my resources never allow. Thank you and happy holidays

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.18

Date disbursed

Dec 28, 2014

Repayment status

Late

Projected term

26 months

Cost to entrepreneur

Lender interest: $100.18 at 4.69% annual rate over 26 months = $10.30

Service fee: $8.12

Lenders

P

phangsang

Seattle, United States

S

Snake707

Somewhere, Germany

E

elourenco

Porto, Portugal

NathanMoore

United States

K

Kristiina

All Countries

KM

Kirsty M

United Kingdom

SE

Sven E

Mannheim, Germany

Sherri Quinn

North Saint Paul, United States

Cathy

Melbourne, Australia

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