Increase stock in my shop

Evans

Eldoret, Kenya

30% repaid

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How it Works

Entrepreneur

Name

Evans

Member since

June 2015

On-time repayments

68 installments • 16%

About Me

My name is Evans Muchere 22 years old from Malava town western Kenya. I am the first born in the family of six. I do construction and plumbing, but my main occupation is running the small shop in Eldoret where I currently reside.
I started the shop five years ago, that is 2009. Since then, the profits have increased gradually due to growth and expansion that I have been undertaking. The shop is strategically situated a long the rough off Uganda Road on the right from Eldoret town. In fact, most of my customers are Moi University West Campus students who use the road to and from classes.

My Business

I started the shop five years ago, that is 2009. Since then, the profits have increased gradually due to growth and expansion that I have been undertaking. The shop is strategically situated a long the rough off Uganda Road on the right from Eldoret town. Infarct, most of my customers are are Moi University West Campus students who use the road to and from classes.

Though, the shop is doing well, there are always challenges in every business and so is this one also. One of these challenges is finance for inventory. At the moment, I have a stock of equivalent to US$300 while the monthly gross income is about US$350

My shop stocks mainly food stuff thus things like maize flour, soft drinks and everything that one would need for daily kitchen use. If funded, I will be able to to increase my stock so that my customers would be able to buy from one place.

Loan Proposal

I am running a food retail shop in the estate where I live. If I get the loan I want to increase my stock with variety of food items.

This will not only increase my stock but enable my customers to access more goods from my shop. This will also make them not to walk from my shop to another looking for goods because I intend to make sure that I stock most of the goods that are in high demand in the area. The entire amount will be used to buy stock like wheat and maize flour, cooking fats that is to say the most basic once that my customers always need for day to day life.

If my loan is fully funded, I will use US$ 50 to stock wheat flour US$ 30 to stock maize flour while the remaining amount I use to stock cooking fat. I expect my interest to grow by US $50 per month.