Money to stock my hutch with hybrid new zealand rabbits
Kenneth
Meru, Kenya
$0 to go
100% funded of $92 goal
0
days left
Entrepreneur
Name
Kenneth
Member since
March 2015
On-time repayments
24 installments • 58%
About Me
My name is kiriinya ken. I was born on 7th November 1991. I was 4 years old when i started my primary education at St.Theressa Primary School where i completed my primary education in 2004.i joined Meru high school education and completed my Kenya Secondary Certificate Education 2005.
The main hardship i have encountered after completing high school is the raising of capital to start my agribusiness which was about 24,000 ks that includes the cost of putting up the farm structures and acquiring hybrid rabbits.
The idea came to me when i needed money to look after my diabetic father ,he needed medical support which would be readily acquired if i had some income generating project . I started keeping chicken but due to high cost it was not successful and that's when i was introduced to rabbit farming by a close friend . I sold the chicken to get capital needed thereafter it has developed into a small scale agribusiness which i intend to expand after acquiring the capital.
My home place has a cool and wet climate which promotes rabbit farming. the fodder is readily grown in our farm but have to buy hay stacks since green leaves are not good for rabbits.
I want my children to get quality education and have all the resources to see them succeed in life and at no particular time be faced by the challenge i had when my dad got ill.
In my past time i like reading books on business including agribusiness,business and entrepreneurship articles. i also now engage in farming trainings at Kenya research institute which is a few meters from my home and they offer the training free of charge
My Business
about three months ago I decided to commercialize the project so as to generate sustenance and savings for my education and I can say the project has picked well till I lost some rabbits about a month ago from an attack by a mongoose attack that left me with only twenty four rabbits. the resources I had were all channeled to making better hutches to prevent the attack. this as brought a major set back as the clients are knocking everyday but I cannot sustain their demand. each month I spend around 3000ksh on rabbit pellets and hay stacks used to feed them which in turn generates a revenue of about 7000ksh from sales of meet and rabbit urine which is used in green houses to control pests .
all the money generated from the rabbits apart from adding on the stock I save in a three year fixed account from which I plan to join college after that and persue a course in business management and expand my businness.
Loan Proposal
after the previous funding from Zidisha team I was able to construct better hutches and now I have a capacity holding of 200 mature rabbits. with this funding I intend to purchase ten mature female rabbits each costing about 3$ this will mount to a total of about 30$ dollars and the remain amount after funding I will take some of my savings from the project o kales farming that I have at home and add. with this I target to have about thirty rabbits within the first cycle of breeding and this will ensure that by December I shed be in a position to sell a bunch of about 50 rabbit for meat production which go at 5_6$ each in the neighbouring town this will result to an income of 250$.
I plan to plough back 60% of this income to adding on the hutch holding capacity to 500 mature rabbits by the sixth month which shed guarantee about 300 rabbits for sale every six months . and with this income I will Na able to join college next year and shape a better and brighter future for me and my future family
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Loan Info
Project Type
Classic Loan
Disbursed amount
$92.00
Date disbursed
Aug 19, 2015
Repayment status
Late
Projected term
6 weeks
Other loans
Lenders
Amsterdam, Netherlands
Denmark
Jake Gibson and Beverly Picardo
San Francisco, United States
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