In mid 1990s. I remember this guy who was retired from KCB bank with golden handshake; he invested on maize; the rain fails; he committed suicide;
I personally dont like or take loans;
You have to be incredibly disciplined with a really SOLID business plan.
If I take loans - I try to take max six months - I repay them as soon as possible.
I have seen enough people enslaved by loans not to want it.
Kenya loans - both banks and et c- are shylocks - who will load fees and fines - until you wont be able to pay.
It's better to do investment kipole pole....sleep like a baby...and never worry.
You have to avoid pressure from people who borrow loans....start to run ahead....give them few months or years...they lose everything.
KFA loans - big problem was you handed over your title deed as security - so if rains fails - you're dead - completely dead - many run mad - if not commit suicide. KFA would come and auction your land.
in the 1980s a lot of kipsigis and Nandi were committing suicide enmass due to inability to pay agricultural loans
I saw a lot of turmoil in 1990s. every business man I knew went under. my dad best friend borrowed about 15 m. by the 2000 the bank wanted 35 million. he sold all his properties for 45m and left the village for Namanga as a pauper with no land