23 weekly installments • 83%
My name is Abraham Masiku, first born in a family of 6. Born and raised in Makueni county in Kenya. Went to school in a local primary then later joined Machakos school for my secondary education. Joining campus was a challenge and thus started some vegetable farming to raise money for my family and my upkeep as well. Later on like a year later by the grace of God I managed to join a college to study business management. School fees was a challenge since the little we got was supposed to pay for the six of us. Had lost my dad while I was in class 8 and my mum is a house wife and the only source of income was proceeds from the small orange trees my dad had planted.
This motivated me to venture into this line of business. My target is to have a minimum of 10,000 orange trees and later on open a fresh juice processing company.
My business is majorly on orange farming which is one of our main cash crop in Makueni county in Kenya. since this is a seasonal thing, I'm planning to do irrigation which will ensure continued production. In a single sale one can get up-to 1,000 US dollars and thus having continued production this can raise up-to double the returns. Expenses associated with this kind of business is buying of pest control chemicals, spray equipments, weeding, pruning and labour.
On top of that, have also engaged in Chicken rearing to boost my income.
We have ready market for the produce and as for now demand is very high as compared to supply.
I use the profit to pay school fees for my siblings who are in colleges as well as upkeep of my mother.
Have been in the farming business for the better part of my life and with the change of technology and desire to have better and quality production, financial obligation is a must. Currently have been depending on the seasonal rains but felt its time to introduce irrigation in order to increase productions.
With this new plan my production will grow by almost 30% increasing my income form the current rate. This will in return help me to get more inventory and farm equipment still making work more easier and with quality products. I will as well employ some few guys to assist in the farm.
As always I will ensure repayment of the loan facility within the shortest period possible.
Food products are essential and basic to everyone and people will always require to eat. We have established a broad market base which will ensure continued supply of our products to the market.
May 7, 2021
Cost of loan
Service fee: 5% of $368.18 = $18.40
Credit risk payment: $58.90