Distributing organic fertilizers and high-yielding seeds to farmers
Victor
White House Estate,nakuru, Kenya
7% repaid
Entrepreneur
Name
Victor
Member since
April 2014
On-time repayments
262 installments • 6%
About Me
I`m Victor Otieno, yet to marry. I live in Kenya, Nakuru County, Whitehouse estate. I`m an Administrator by profession but never practiced it, instead I joined business field. I started business because I wanted to be my own boss and be able to stretch my innovation during my extra time. I supply fertilizers to farmers in the wider Rift Valley farms for the last 2 years .From my earning, I get profit and part of it I plough back into the business for expansion of capital. The remaining profit I use for maintenance, settle bills and daily up keep. I like mentoring and motivation, therefore, free time I do capacity building in different institutions. Since we are in 21st C where education is not everything ,I`ve started a project of imparting business knowledge in collages in Kenya so that while people study, they need to focus and mould their minds towards creating opportunity not necessarily just seeking employment so that we end up with more inventions in this world.
My Business
Since I supply fertilizer which is a basic input to farmers in my region, I`ll be in a position to make profit and settle my loan. Fertilizers have demand because the main economic activity in this region is farming. Customer service and relation plays a key role in sustaining clients to beat competition. The main risk I face is smuggling of substandard fertilizers from the neighboring countries leading to price fluctuation in the market. Averagely I spend $200 with sales revenue of $ 120 and a profit ranging between $ 100 to $150 per month. I have part time income from capacity building in different institutions such that I can in turn use to repay the loan.Since I got the first loan from zidisha,my business has been affected in a positive way.For example: I was among the few nominated key suppliers to attend a farmers forum in my county region simply because,my supply had increased credibly.
Loan Proposal
When I get this second loan, I will buy bio degradable fertilizers and treated seeds which farmers told me to place an order for. This could not work earlier despite demand because I lacked funds to invest in that expansion field of interest. Funding me will boost my business and dream in such fields like, employing qualified person to assist me handle my clients which I believe will expand with time hence creation of employment.This in turn shall boost our economy. My business shall attract more farmers based on the rare farm input products which I shall supply. The seeds I want to buy cost averagely $1.5 per 2kg and are sold to farmers at $2 per 2kg.This will bring a profit of $0.5 per 2kg.My survey tell me, I can distribute at least 400kg in one month. This translates to averagely $200, a good revenue to cover my expenses, leaving me with a sweet profit. In addition, the organic manure I will buy cost $20 for 40kg.I sell at $30 per 40kg giving me a profit of $10 per bag. Estimated revenue from fertilizer per month is $300 which is huge given that they are used during planting, weeding and harvesting.Currently my profit ranges between $100 to $220 per month.I look forward to double that after findings.I`ll not forget the meetings, forums and even farmers shows I qualified to attend in the last few weeks. I believe my business is likely to attract more consumers thereby increasing my chances of participating in farmer’s forum. Thanks in advance to those loyal lenders who shall consider my humble request to boost my business. Be blessed.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$539.00
Date disbursed
Jul 9, 2014
Repayment status
Late
Projected term
60 months
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