Name
Paul
Member since
August 2012
On-time repayments
187 installments • 36%
I am a Kenyan aged 29 years and hold a Bachelor of Arts (Economics, with IT) degree from Maseno University. On top of this I have CPA Section five qualifications. Previously, I have served as Accounts Assistant at Stoke Insurance Agency and as a Research Assistant at Digital Archives LTD. Most recently, I served as Agent Banking Consultant with Kenya Commercial Bank stationed at Gilgil Branch. I resigned from employment to start a business which is my passion and also make a positive impact to the local community. The experience that I have acquired during my working life has sharpened my entrepreneurial skills.
I started engaging in business while still in college where I would offer printing and photocopying services to students. After college, I became actively employed in different organizations until I realized that I had a passion in business and not employment and hence my resignation. Currently am engaged in dairy farming at the outskirts of Nakuru town. The population of Nakuru town has risen tremendously especially after Post election violence of 2008. The high population has made the demand of milk to go high; the current production do not satisfy the market. Having realized that, I sought ways of increasing production of milk and hence my income. The most important thing is to improve my herd by rearing high quality breed of cows and feeding them appropriately. The greatest challenge I am facing in dairy farming business is high cost of dairy feeds especially during dry periods. If I could access cheap funds, I will purchase hays and keep stock to feed my cows during dry spells. I, therefore request for a credit facility that would not only see my dream come true but also create employment opportunity for youths in my locality. Revenue from the sale of milk for 2 cows per month is Ksh. 35,000. Total expenses per month include salaries and wages Ksh. 4,000, Dairy feeds Ksh. 10,000 and medicines and pesticides Ksh. 3,000. The net cash flow from dairy farming business is Ksh. 18,000.
I am engaged in dairy farming business in Nakuru. Having evaluated the market, I having seen that there is shortages in milk supplied to the market especially during the dry periods. In this regard, I want to supply milk in this town throughout the year. Therefore, the loan will be utilized towards buying dairy feeds. I will also prepare maize silage to ensure constant feeds for my dairy cows especially during dry periods.
Positive
11
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$483.00
Date disbursed
Aug 25, 2012
Repayment status
On Time
Projected term
15 months
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