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Chickens What was your experience with taking on small loans from companies like Branch, Tala, Musoni, etc?

C

Chris

Guest
I have met with many farmers and get mixed answers.
  • Some farmers are grateful to access this credit because it helps them scale their farms or cover accounts receivable.
  • Other farmers end up getting caught in a debt cycle that is impossible to escape. This happens because either they were not educated in handling financials and used the money on unnecessary things, or suffered unexpected losses on their farm.
What are your thoughts and experiences?
 
V

Vincent Omega

Guest
I was actually looking to take out a loan from a few different providers totalling KSh 50,000.....Interested to see what the community says before I continue...
 
Janssen

Janssen

Admin
Don't take a loan to start poultry farming unless you have a way of repaying it quickly. Loans are taken once the business is already established and strong. Poultry farming can be a bit risky sometimes and you may end up getting losses in the early years until you are more experienced.
  • Make sure to create a business plans and understand how the cash goes in and out of your business.
  • Start small and learn as much as you can before taking on a loan.
  • Don't take more than you need or spend on unecesaay things.
Good luck!
 
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A

Allan Kebet

Guest
I did not have a good experience :cautious::cautious::cautious:

I missed a payment by one day because I was out of service and they stopped my ability to take loans when I very much depended on it to get by...It was a rough six months recovering and will not take again...
 
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