Purchase of farming equipments and fertilizer

George Orwa

Nairobi, Kenya

35% repaid

Entrepreneur

Name

George Orwa

Member since

May 2014

On-time repayments

97 installments  •  31%

About Me

Am a Kenyan aged 34,I come from Homabay county,homabay district,Rangwe division ,Kagan location,Komenya sub location ,Konyango Atieno village,Chiepe school area.I started my primary education at chiepe primary school where I did my KCPE in the year 1998.I then joined Luora secondary school where I did my KCSE examination and attained grade C (plain).I started this farming business to enable me further my education to college level,Assist my mother who is a widow,Siblings,my family and myself.Have manage to employ some community members to help me in the farm, have also purchased some piece of land to expand my farming and some farming tools.My hobby is advising idle youths to do something that can generate income and empower them.

My Business

Am currently doing farming business in the rural part of the country and selling the produce to the urban centre of the country.I will use this loan to buy more farming tools and fertilizer,I will pay back this loan with money from the sale of the farm produce.Members of the community and other customers prefer my goods due their good quality and they are affordable compared to my competitors.My business is profitable because the produce is always more than the capital used.The risk my business faces is drought but we mitigate that with irrigation.My monthly income is around USD750 my monthly Expenses is around USD600

Loan Proposal

I will use the loan if granted me to purchase farming equipment (hand cultivating machine)and fertilizers.The benefit will be increase in quantity and quality of my farming produce and this will result to more monthly additional income of a round USD225 these money will be used to improve my farming hence gross result of better life of I and my family.Am requesting lenders to support me because am not in a position to it by myself though my wish is to see my farming expanding.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$447.56

Date disbursed

Aug 29, 2014

Repayment status

Late

Projected term

20 months

Cost to entrepreneur

Lender interest: $447.56 at 5.26% annual rate over 20 months = $38.93

Service fee: $26.43

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