James Thuo

Nakuru, Kenya

36% repaid

Entrepreneur

Name

James Thuo

Member since

September 2012

On-time repayments

75 installments  •  28%

About Me

My name is James Kiragu Thuo ID № 9008143. I was born on 1st January 1968 in Kandutura village Visoi location, Rongai District of Nakuru County. I went to Kandutura primary school between 1976 and 1985 and later joined St Columbus High school in Nakuru town for my secondary education between 1986 and 1989. I did not proceed beyond secondary school since my parents could not afford to send me to college but I engaged myself as an apprentice mason. I have since learnt masonry well and often gets contracted to construct houses, schools and other social amenities. I am legally married to one wife and have been blessed with 3 children; 1 boy and 2 girls.
Currently, I live with my family on a six acre piece of land at Kandutura village plot number 390 at a place called Makanisani next to ACK church.

My Business

Other than masonry, I am also involved with farming. On my 6 acre piece of land, 4 acres are under maize and beans while one is under tomatoes. The remaining 1 acre is used for dairy farming. I have 3 cows and 5 goats. This year, I have already harvested 15 bags of beans (current rate of Ksh 4500 per 90kg bag). This translates to Ksh 67,500. I am expecting to harvest about 80 bags of maize (current rate of Ksh 3,200 per 90kg bag). This would translate to Ksh 256,000. Grand total income from beans and beans comes to Ksh 323,500. The cost of inputs and labour is approximately Ksh 40,000 leaving me with Ksh 283,500 for a period of 8 months. The cost of producing tomatoes is approximately Ksh 100,000 against an output of Ksh 250,000 per acre. This takes about three months. I only plant one time per year. Therefore, my annual income is Ksh 333,500 which is approximately Ksh 27,800 per month.

Loan Proposal

My main intention is to turn to irrigation based agriculture. To achieve this, I intend to use Ksh 60,000 to dig a well that will give me water throughout the year; especially so in January to March as this is the driest period of the year. Ksh 40,000 will be used to purchase a Friesian cow. Milk is really fetching a lot of money. The remaining Ksh 14,000 will be used to prepare the land for planting. This kind of farming is crucial since I will be able to grow whatever I desire at any time of the year regardless of the climatic condition. I hope to improve my income by as much as 100%.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,310.34

Date disbursed

Sep 25, 2013

Repayment status

Late

Projected term

66 months

Cost to entrepreneur

Lender interest: $1,310.34 at 3.35% annual rate over 66 months = $243.26

Service fee: $262.32

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