Purchase of fertilized eggs for hatching

Charles Maelo

Bungoma, Bukembe Village, Kenya

100% repaid

Entrepreneur

Name

Charles Maelo

Member since

September 2015

On-time repayments

43 installments  •  70%

About Me

I am a second born child in a family of six, four boys and two sisters. I went to Kiganjo kindergarten for my nursery education and latter joined Kiganjo primary school up to standard four. I was later transferred to Nzoia Primary school from standard five to eight where i sat for my Kenya Certificate of Primary Education (KCPE). I went to St.Teresa's Kabula Secondary school and did my Kenya Certificate of Secondary Education (KCSE) in 2000. I joined Manjasi High School in Tororo Uganda For A-level education and sat for Uganda Advanced Certificate of Education (UACE) in 2002. In the year 2003 i joined Makerere University for my Bachelors education and graduated with a degree in Social Sciences in 2007. I started poultry farming in the year 2010 by rearing layers to supply unfertilized eggs in Bungoma town then in 2013 i ventured into hatching and selling indigenous day old chicks. In western kenya indigenous chicken is a delicacy and thats my unique value preposition.

My Business

I do hatch a total of eight thousand indigenous chicks monthly with two thousand chicks weekly. I sale one day chicks at ksh.100, one week Ksh.150, two weeks Ksh.200 and one month chicks at Ksh.250. The breed i am hatching is high yielding and matures faster and is highly resistant to diseases. I chose business because of the increasing demand for white meat. My costs include purchase of eggs from farmers as i currently outsource my eggs for incubation. A fertilized egg costs $0.25 and i do my purchases on a weekly basis as i also hatch on a weekly basis. I use the profits earned to expand my business as i plan to raise my own parent stock, formulate chicken feeds and rear mature birds for slaughter.

Loan Proposal

Describe what you will do with the loan in at least 200 characters
There has been an increased demand of our chicks due to their fast growth rate, resistance to diseases and the general increased demand for white meat. Therefore we intend to purchase 1194 fertilized eggs for incubation at $0.25 per egg using this requested loan. This will sum up to $298.5 thus increasing weekly hatching capacity from the current 2000 to 3000. We sell a day old chick at $1.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$303.00

Date disbursed

Jun 15, 2016

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $13.11

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