Loan to plant maize to futher my studies
Linda
Ekisumo Village, Nambale District, Kenya
100% repaid
Entrepreneur
Name
Linda
Member since
September 2014
On-time repayments
41 installments • 29%
About Me
I was born in 1991in Ekisumo village, Busia district in western part of kenya. I am a third born in a family of seven. I have studied up to college level, having done my certificate (p1) in education in November 2012.
I am currently teaching in a nearby school temporarily where i earn some little money. I have also started an income earning project in agribusiness where i intend to raise fees to further my studies since my parents are unable to continue paying for my fees when my younger siblings need to continue with their studies too.
This idea struck me after tarmacking a lot in search for employment, this is where i realized that with my certificate i had to wait for at least 5 years after graduating to get a chance for employment as others who have graduated before have to be considered first.
I love reading, socializing and exploring new ideas that could change our lives and the world at large. It's because of this that i discovered zidisha, am hoping that this family will help me in both advice and finances to make my dreams a reality
My Business
Since i live in the countryside, the most viable business to undertake here had to be agriculture based, firstly because there is ready land and labour which are important factors of production. So after talking to my loving dad about my project, he offered me one and a half acre piece of land to kick start my project.
In this part of the country we are blessed because we plant 2 times a year, i began my farming project in the second half of last year. I have been planting maize on the whole piece of land since it's staple food and does well in this area.
I used $60 to plough and harrow, another $50 to purchase seeds and then $120 for labour i.e planting.
Since this is my second time to undertake this project, expected yields will be more because i will avoid the mistakes and omissions which led to a lower yield last season. This coming season i am expecting 30 bags of maize after harvesting, In the current market price of about $30 per bag, i expect about $900 as gross income less expenditure of about $350 , that will leave me with $550 in just 120days, this amount will be added to my previous savings to realize that i achieve my dreams of furthering my education from September this year.
Thanks in advance
Loan Proposal
If funded with this loan i will use $60 to plough the piece of shamba, and the remaining $40 i will use to buy seeds, other things like fertilizer, labour etc will be funded by myself using part of money that i will acquire from the sale of previous harvest.
Thanks.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$99.00
Date disbursed
Feb 10, 2015
Repayment status
On Time
Projected term
8 weeks
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