To buy a hatching generator to power my incubator

Muriuki Murunge

Ndagani, Kenya

78% repaid

Entrepreneur

Name

Muriuki Murunge

Member since

September 2014

On-time repayments

40 installments  •  40%

About Me

I leave in Tharaka Nithi County in Chuka . My Education background is in International Business and Marketing which has enabled be understand how various segments of market are classified and looked at.
My Business which is Running a sustainable Small chicken Hatchery is my passion and a way of creating employment to various youth groups who have ventured to chicken farming. Hence am able to sell to them chicks and buy from them fertilised eggs for my incubation therefore creating a continuous market cycle of win- win scenario for all.
Additionally am involved in youth development committee for our church development at PCEA Mutunguruni which has given me a better understanding of the challenges facing most of our youth within our area through constant interaction with them.
Have also been involved in helping promote health insurance through encouraging people to take up health insurance for their families considering 97% of Kenyans are uninsured. This helped me better understand the decision patterns and hindrance most Kenyans have towards safe guarding their lives.
From my business am still growing it hence most of the earning are used towards building the business considering it’s still growing. My hobbies include cooking, reading, and mostly outdoor activities such as sightseeing,sustainable agriculture and gardening.

My Business

Having been in Hatching business for the last 5 months and with an incubator of 440 capacity, I have been able to grow my business with the saving generated. I have already purchased a Hatcher which I am awaiting delivery. The Hatcher of 1056 capacity will enable me improve my hatchability rate to 95%.
My business mainly entails taking orders from clients mostly youth groups for chicks which means most times I have a backlog due to high demand.
With the high demand of improved Kienyeji chicks due to their high disease resistance prevalence, high production and better feed conversion rate demand. They are the farmer’s choice for rearing.
The highest risk for my business is power outrages which I indeed want to address by seeking help to buy a generator to mitigate the risk.
My general costs include Electricity $68.63, cost of fertilized eggs $ 114.39, transportation cost $10,feeds cost $68.63( Varies with orders either for a day old or monthly old chicks) , vaccination $34 and other Miscellaneous cost $30.Total Cost= $325.65
My sales Revenue from 60 %(180chicks) hatchability rate from 300 eggs= Total Sales $617.73 .Price per chick is $3.43
Profit margin is approximately =$292.08

Loan Proposal

Dear lenders, i will use the money to buy a generator to help mitigate the power outrages since my incubator and hatcher machine rely on power to run. This will help me improve my hatching rates to 95% helping me towards clearing backlogs orders from farmers. Hence delivery will be timely.This will also create employment opportunities for the youth in my village as i will be able to cater for more orders requiring assistance.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.69

Date disbursed

Oct 17, 2014

Repayment status

Late

Projected term

9 months

Cost to entrepreneur

Lender interest: $99.69 at 12.11% annual rate over 9 months = $9.82

Service fee: $2.96

Lenders

Brian

Midhurst, Canada

stanbogdanov

Sofia, Bulgaria

D

DandS

United States

begood

United States

Benjamin Charlton

Dubai, United Arab Emirates

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