Motorbike to distribute my tomatoes

Elikana Korir

Eldoret Sogomo, Kenya

100% repaid

Entrepreneur

Name

Elikana Korir

Member since

March 2016

On-time repayments

246 installments  •  54%

About Me

Born a third born to a family of seven,I attended a government sponsored primary school called Lowa Moiben.The school was 3km away from home and the only means of transport was footing.I kept doing that for 8 years and managed to do well in my KCPE after which I joined on of the provincial schools.Four years later I completed high school and scored a B plain,
which was a minimum requirement entry to university.My family organized a fund raising to gather for my entry fee,later on I applied for HELB loan.While in school I could purchase tomatoes to sell them to my neighbours for my upkeep.Now am in my final year studying Bsc in Agribusiness.Duringe one of my long holiday, a friend of mine lent me 5000 KES which I decided to invest in farming a small land of our home.Basing on the tomato sales I was doing,I took it as the best farming opportunity around since the rivers were availabe for irrigation.In our society,people believe in one being independent,hardworking and be able to cater for themselves and their families.Since I was young,the society I live in encouraged social activities such as planting trees and flowers,cleaning the community, which was sponsored by the church and school social clubs.These activities are upto date my best priorities.

My Business

From farming tomatoes, tomato fruits are the goods that I acquire from the farm. This fruits are important for our local market as they used for daily consumption. They are the most important ingredients that help add flavour to the food naturally, in this case helping the community avoid genetically improvised flavours.I choose this kind of business due to the availability of irrigable land within our home and the labour required is little in that I could offer it myself. The starting capital is also small as I would transport my goods to the market using my own bicycle. The choice was also based on the ready market within my community as we are bordered by a university which most of the students reside outside and need to purchase such goods for their daily consumption.Working on a 0.1 acre of land,u recquire $200.That is,purchase of seeds $50,purchase of chemicals such as insectisides $50,purchase of watering engine $100.Expecting a revenue of $350 from the local market at the end of my harvest.The profits from the revenue will be reinvested in the farm by increasing the size of land to be farmed,purchase of extra seeds and purchase of watering cans for small sections.

Loan Proposal

From the loan I am requesting, I will purchase a motorbike.This will cost me $700.The machine will help me deliver my farm product to the market and thus earn maximum revenue. The retailers will also benefit as they don't need to involve cost on transportation .This will increase my profits by 50 percent.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$300.01

Date disbursed

Sep 1, 2016

Repayment status

On Time

Projected term

57 months

Cost to entrepreneur

Service fee: $12.37

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