Proposal to purchase an additional dairy cow

Patrick

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Patrick

Member since

March 2014

On-time repayments

189 installments  •  94%

About Me

Am a passionate dairy farmer and a sports coach in the sport of badminton. I practice my dairy farming in Bomet county where i focus on keeping dairy cows for production of milk for sale and breed the rest of the cows for sale.
Am currently in the process of expanding the size of the farm in order to have it as a full time job as i have to keep another job in Nairobi so as to sustain the dairy farm. Its full potential has not been realized and therefore have to continue investing for the next few months when the cows calve down and start producing milk.
While away from the farm, I also offer badminton coaching services. Sports coaching takes place in tho exclusive clubs in the Nairobi's park-lands area.

My Business

My main source of income are from the dairy farm and also the coaching services.

I make an average of between US dollars 200 and US dollars 450 per month depending on the month. At the moment, the net returns are mostly invested back into the dairy farm in order to aid the current expansion.

Most of the other income come from the business of buying and selling of badminton sports equipment which include badminton rackets, shuttles, grips and racket strings.

My intention is to fully commercialize my dairy farming business so that i can fully settle into the farm and focus in the commercial production of milk for sale.

My other major source of income will originate from the sale of cows to other farmers.

Loan Proposal

Dear lenders, my farm has been growing well for the past two years. I currently have a reliable market for the milk produced at the farm. However, I have noticed that many customers are interested in purchasing more milk from my farm due to the highest adherence to hygiene and quality of milk produced at the farm. In order to meet the milk demand from my customers, I am planning to purchase a high yielding dairy cow in order to buffer the shortfall in the milk production. In that connection, I humbly submit a proposal to my lenders towards raising capital for the purchase of a dairy cow. I have already identified a good dairy cow for sale from a neighboring farmer and she’s due to calving down in a month’s time. Through price negotiation, the cow is costing me 70,000 Kenya shillings [Kshs], approximately 740 US dollars. I do have dairy farm savings of 20,000 Kshs (Approx 210 $) and therefore proposing to raise an additional 50,000 Kshs (Approx 530 $) to meet the 740$ price. Through the current milk sales, I plan to pay up the loan in about four to six month installments. The additional cow will be able to increase the income at the farm and therefore impacting the farm in a very positive way.

I hope to get a positive feedback towards the purchase of the cow.

Thank you.
Kind regards,
Patrick Ruto.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$518.00

Date disbursed

Jul 2, 2015

Repayment status

On Time

Projected term

6 months

Lenders

Kitty

Hailsham, United Kingdom

PaulE

Cockeysville, MD, United States

P

phangsang

Seattle, United States

korben

VILLENAVE D'ORNON, France

J

jasonbronowitz

Tempe, United States

IA

Ismini and Jerry

Stamford, USA, United States

ads68

Melbourne, Australia

T

Tui1974

nuenen, Netherlands

fairspirit

Utrecht, Netherlands

tonnyschonewille

Maastricht, Netherlands

Paul Buchheit

Mountain View, United States

mepster

San Francisco, Ca, United States

A

andreab

United States

S

Stephan

Netherlands

KM

Kirsty M

United Kingdom

Janet Merrill Miller

The Mossy Pacific Northwest, United States

rjb

Phnom Penh, Cambodia, United Kingdom

MW

Matt Willis

United States

JT

John Tabacchi

United States

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