Purchase better dairy cow for dairy farm
Lydiah
Kanja, Embu, Kenya
21% repaid
Entrepreneur
Name
Lydiah
Member since
November 2014
On-time repayments
108 installments • 65%
About Me
I am 24 years old, from a family of five and a mother of one child. My childhood and education were full of challenges; my parents had difficulties raising my school fees and I had to engage in small entrepreneurial activities like selling vegetables. I was also lucky to get into university through partial government sponsorship where I studied bachelor of commerce. I can describe myself as an upcoming entrepreneur with big dreams. After unsuccessful attempts to obtain employment, I started farming as a business. I begun with a loaned cattle and through the proceeds I made from sale of milk, I begun renting tea bushes and hence tea farming. I am still at the start up stage and I hope to become established with time. I live in an area with great potential for agriculture but due to lack of adequate finances to invest in agriculture, majority of people remain poor. In addition, majority of people are illiterate with the rate of school dropout increasing by day. I would like to change this situation, starting with myself and motivate other young persons in my area to engage in farming so as to reduce poverty and crime. As Napoleon Hill once said, "if you cannot do great things, do small things in a great way.” A lot of my free time I use it in volunteer work and in helping other people. I love and play basketball and I believe I have unexploited talent in singing. I love outdoor activities as well as watching movies during weekends. I also watch business documentaries and read motivational pieces. I hope and look forward to a future that I will engaged in large-scale farming.
My Business
I am engaged in dairy and tea farming. My dairy farming venture consists of one cow that produces 4.5 liters per day. This translates to an annual gross income of about 898.88USD (80,000KES). This amount is little, especially when I subtract the expenses and other overhead costs. My plan is to purchase a more productive cattle that will allow me realized better profits. This is one reason I seek your assistance. Milk in my area is in great demand and when I have a better cattle I will definitely make profits. In regards to my tea farming business , I rent tea bushes for at least three years and sell plucked tea (tea leaves) to KTDA, an organization that markets tea for Kenyan farmers. KTDA then pays us for the kilograms sold. Some amount is paid monthly and the main payment is made annually. Renting tea bushes reduces my profit margin. Therefore, my aim in regards to tea farming is to have my own tea bushes. Financial support to rent more tea bushes would allow me to obtain that goal quicker. The annual income from tea sales varies. In 2014 , I had a gross annual income of about 674USD (60,000KES). As highlighted above, I am in a position to repay the loan from the proceeds of my two venture. Your support will be helpful to me and I will be very grateful.
Loan Proposal
I was able to improve my tea farming using my previous loan and I am seeking this loan to purchase a better dairy cattle. As I was advised by a professional, I plan to purchase a cattle that produces more milk rather than purchase additional cow. The more productive cow will cost Ksh 50,000 (US$560). I will add the difference (Ksh 18,000) to purchase the cow when I get this money. I project that my milk profits will increase by 55% due to the increased milk production. The cattle I wish to purchase will be producing 5.5 liters more than my current cattle. I expect to get an annual gross income of Ksh 122,400 (Us$1,360) once I get the planned cattle. Therefore, the cattle will be of great benefit to me. Not only will my milk sales and income increase but I will also be able to educate my child who is joining school next year. Thank you for your support in my previous request. I am looking forward for your support for the second time.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$359.00
Date disbursed
Apr 7, 2015
Repayment status
Late
Projected term
77 months
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Jake Gibson and Beverly Picardo
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