Loan to put up a perimeter fence for my chickens

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 all the money to buy materials for putting up a perimeter fence around the compound. The materials needed are:

1. Chain link wire
2. Fencing Posts
3. Nails
4. Labor

90 USD will be used to buy the chain link wire, 35 USD will be used to buy the fencing posts, while 25 USD will cater for the labor.
This will help me let the chicken out to scavenge around for food. This will in turn be beneficial in two ways. One, The cost of buying feeds will reduce, since i will only buy supplementary commercial feeds, and two, My chicken will not roam to my neighbors' compounds, thus avoid conflicts with them.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$149.97

Date disbursed

Sep 20, 2014

Repayment status

On Time

Projected term

5 weeks

Cost to entrepreneur

Lender interest: $149.97 at 12.00% annual rate over 1 month = $1.73

Service fee: $0.52

Lenders

R

ross22

United States

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