Purchase feed for my cows and poultry

Elijah Cheruiyot Langat

Mogogosiek, Kenya

70% repaid

Entrepreneur

Name

Elijah Cheruiyot Langat

Member since

October 2016

On-time repayments

148 installments  •  70%

About Me

My full name is Elijah cheruiyot Langat born in a small village Siomo Bomet county in 1973. I am second born in a family of seven. My father was a driver and had a difficult time in educating us due to limited resources. I went to secondary school almost 300 kilometers away from home. Since my father was polygamous, we were five in high school. We all went to reputable high schools very far from home. I remember my father use to struggle paying our school fees on time and in full. Many instances I was left in school after closure waiting for fare back to home. The principal could at times dig into his pocket to give me fare home. I at times go to school without pocket money and the very necessities such as pens exercise books soap etc. This made me to work hard and become very innovative in life. I use to save any cent I come across to use while in school to buy my necessities.
After school I went to college did mechanical engineering diploma for three years. I remember my dad asking me not to join college because he was unable to pay for me. Since I am a strong believer of jesus Christ I trusted that God will help me to go through my college successfully. My dad accepted and paid for me first year fees. To the surprise of my dad and entire family, God helped me to get a sponsorship with Toyota Kenya which took me through meeting all the expenses. Later I secured myself a job. from there I have educated myself and did total quality management, Human resource management and technical education.

My Business

I am a small scale (Poultry and Dairy) farmer. Currently in the process of installing a biogas system through SISTEMA.bio. The entire project will cost me 178,800 to be completed. I have paid 17,880 as a deposit. Within 35 days they will install the system and require me to pay another 17,880. Thereafter i am expected to be paying 11,170 monthly for 12 months. I require the loan to pay the 17,880 and to buy fodder for my two dairy animals. I am also intending to buy one heifer to increase my dairy cows to 3.

Loan Proposal

I would like to buy feeds for my dairy cows and poultry. I have 4 dairy cows two are lactating and two in-calf. January to april is a dry spell in kenya and fodder is a challange. I would like to stock hay that can last me 3 months. 150 x 4 = Kshs.600 a day. for 90 days this will cost me Kshs. 54,000 for fodder only. Dairy meal will cost me will cost me 1850 x 4 weeks x 3 months = Kshs. 22,200.
Poultry will cost me 2,500 x 2 bags in a month x 3 months = Kshs. 15,000
Total amount will be 54,000 + 22,200 + 15,000 = Kshs. 91,200
I am sure this will assist me to grow my farming to another level.

Income Source

My loan repayment will be possible since the two in-calf dairy cows is due in late January 2021. The production once my two in-calf heifers deliver, I will produce 50 Liters x Kshs.50 per day 2,500 equivalent to 70,000 a month. Poultry gives me 35 eggs a day 40 x Kshs. 12.50 = 500 equivalent to Kshs. 15,000 a month. I am also having 264 egg Incubator that produces between 150 to 200 chick every three weeks. In a month I always make at least 30,000. 200 chicks x Kshs. 150.
Again i will also supliment with my salary in repaying my loan. I am employed in a tea Factory as an assistant manager. I have schooling children once i pay for their fees, i will concentrate in loan repayment to enable me clear and even go for higher loan to grow my business.
I assure my lenders that i will always commit to repay my loan fully and as planned.
Thank you and may God almighty bless my lenders.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$885.05

Date disbursed

Dec 28, 2020

Repayment status

Late

Projected term

10 months

Cost to entrepreneur

Service fee: $43.60

Credit risk payment: $130.82

Lenders

JH

Joseph Hwang

Houston, United States

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