To purchase more roosters and broilers
Geoffrey
Nakuru, Kenya
100% repaid
Entrepreneur
Name
Geoffrey
Member since
August 2013
On-time repayments
52 installments • 40%
About Me
Thank you lenders for letting me join the group. Am a 28 years old man from a family of seven children. I lost my dad while I was A 2nd year student in Egerton University Kenya, where I was doing a degree in biomedical science and technology. And ever since then life became tough so I had to do some small businesses here and there to cater for my tuition fees. That is why it took me five years to clear my undergraduate. Am God fearing, hardworking and very talented man and I do have various business ideas but lack capital. Am single and currently I live in a single roomed house near our home where my chicken rearing business is and working hard to purchase my own piece of plot and move my business to my own place.
I left campus an year ago and since then i have not landed a permanent job. so ventured into chicken rearing an year ago. I started rearing layers and broilers.after realizing there is a demand for eggs and white meat in Nakuru town. I have over 10 clients who run some small food kiosks n the neighborhood. Right now I have 200 layers, 200 roosters and 150 broilers. I normally sell the broilers after three months and currently am handling my 5th batch and two pigs which I bought with the earnings I got after investing my 1st loan.
My first loan helped me expand my business and in the process bought two pigs which I plan to rear in the hope of bettering my life and starting a big piggery farm. As per now I have managed to purchase a laptop which I use to do some online jobs, including article writing which has helped me increase my monthly income by up to $200. plus currently am learning how to trade forex online.
My Business
My source of income is selling roosters and the broilers once they attain the required weight and eggs. The demand for both the meat and eggs is quite high in town and the more I produce the more I get.
The business risks I deal with daily include normal diseases, pecking, cats which love eating the chicks. To handle the risk I make sure I vaccinate all the chickens in the poultry house and make sure that they are feed a balanced diet. The earning from the first loan helped me purchase two pigs which am currently rearing and hoping to purchase some more.
Currently I need a loan to purchase increase my roosters which I will sell during the christmas holiday and broilers and from this project I can finally set up a hydrophonic system which will help me produce more fodder for my pigs and roosters at a lower rate. I will also use part of the loan to purchase more broilers and cockerels to help me stabilize the business. I earn a gross monthly income of $300 from the business and spend $120 on their feeds, $10 on vaccine, $15 on electricity and water, $25 on transportation. I earn a net income of $130.
Loan Proposal
when I get this loan I will improve my agribusiness in the following ways: I will purchase 100 rooster at $40, I will also increase the number of broilers in my farm by 50 which will cost me $50. with the current cold season in the country I will have to insulate the chicken pen and protect them from cold and thus keep them warm and make sure that they are very comfortable. therefore I will use $26 to purchase more building materials and insulate the house and also increase the size of the house so that it can accommodate the new birds I plan to purchase. With the returns from this project, I will finally set up a hydrophonic fodder farming system in my farm and finally be able to produce cheaper feeds for my pigs and dairy cows which I plan to purchase before the year ends. this will help me improve my life and also get a motorbike to help me supply my eggs to my clients. With better feeds my pigs will attain the 80kgs within 5months and thus earn me more cash. Plus with more birds in my farm my monthly gross income will increase.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$116.00
Date disbursed
Jul 21, 2014
Repayment status
On Time
Projected term
8 months
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