Purchase of land to reduce rent cost for my green house
Maina
Nyeri, Kenya
42% repaid
Entrepreneur
Name
Maina
Member since
October 2013
On-time repayments
121 installments • 31%
About Me
I am a 27 year old humble and hardworking man, born and raised in Githurai area of Nairobi Kenya.I came from a very humble background of 5 where i am the second born.I hold a B.Sc in Information Technology from Kimathi university in Nyeri.
I was brought up in a family where none of the parents had formal jobs which forced me to learn how to survive the hard way.I help my fathers friend in his welding business to raise my school fees from primary school and saved up the same for secondary school, due to good performance in secondary school i got a place in the Joint Admission Board where i received part sponsorship from the government of Kenya for my university where i graduated in May 2014 after which i started farming chicken and farm produce (tomatoes and onions).
My chicken business attracted many clients until now i am unable to meet the demand, which calls for me to put in some more capital to buy an incubator.My clients time and again ask for supply of day old chicks which i can only fulfill with an incubator.
I like socializing and networking while playing basketball and on social media.
In business i do not leave anything to chance and i keep strict records and i always take care of money because i believe in the saying that " take care of money and money will take care of you".
My Business
I have a small poultry farm where i keep local chicken for meat and eggs.I also venture into farming for onions and tomatoes on leased land.The poultry market in Kenya is very big and the demand is always high although it comes with vigorous marketing, at the same time eggs are always scares and day old chicks have even a higher demand.
The farm produce ie onions and tomatoes are always in demand mostly when grown off season which i do but due to a capital limit some times it is not so promising.I have established that with a green house i can do off season production.
For the poultry farm the costs are purchasing the chicks, the feed, medication,labor and the incubator for hatching and selling day old chicks , cost which i did with my previous loan.The revenue is sale of the mature chickens, day old chicks and the eggs.
For the farm produce the costs are rent for the land, seeds, water bills,herbicide, and labor costs and construction of the green house.
I use my profits to reinvest for business growth for upkeep and to further my education.
Loan Proposal
I have a chicken farm and a green house which are doing well but they are on rented land.I have established that the cost of rent is taking up too much of my profits and since i joined zidisha two years ago and started renting the land i have spent approximately $2500 on rent only.
This would have been profits for me if i had bought the land in the first place because the land retails at $2000 only.
I have talked to the owner and he agreed to sell it to me at $2000 so that in January the cost of rent is eliminated and by the time i finish paying up the loan i will have the piece of land and save up the rest as profit.
This will help my business grow in assets and will salvage my revenue at the rate of $1250 per year which is a good amount.
I have savings to the tune of $1300 and i request funding from the zidisha community to top up the amount so that i can buy the land by January 2016.
Thank you lenders in advance for giving me hope and for being with me all the way.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$479.00
Date disbursed
Dec 3, 2015
Repayment status
Late
Projected term
18 months
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Lenders
Fontvielle, Monaco, Yemen
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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