Entrepreneur
Name
Lucy
Member since
June 2014
On-time repayments
51 installments • 24%
About Me
I am Lucy Gacheru, 1st born in a family of six. Born in Narok County- Rift Valley region of Kenya and later relocated to Gilgil where the family still lives.
I later moved to Mombasa and to my late husband John Kiruri in 2008 who passed on in 2013 due to heart failure. I have one daughter who is 3years and 10 months old. She is now attending a pre-primary unit in year one. We started a business together with my late husband in Mombasa which I rely on for my daughter’s upkeep and other family expenses.
My Business
I deal with industrial chemicals for making detergents, body lotions, hair, carpet as well as car shampoos. I provide raw materials to people who manufacture these products on a very small scale. I serve many customers since these products are very popular with low income earners who are the majority in this town. They products provide a cheap alternative to the more expensive and well packaged products produced by multi-national companies.
Due to the large number of customers, the business gives me a fairly good income of about $500 after paying my 1 worker and the bills. I am intending to expand my business by hiring an extra worker who will help me in delivering the chemicals to clients. However, this will come at a cost since I have to buy him a protective gear and create a desk for him.
Loan Proposal
I intend to buy raw materials for my soap making business. I have planned to buy assorted colors (these are dyes and they are sold in kgs) - 5kg at a total cost of $60. I will spend the balance to buy perfumes for the same products.
The demand for my products has gone up and I want to have ready stock in readiness for the peak season at the beginning of the year.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$105.00
Date disbursed
Dec 22, 2014
Repayment status
Late
Projected term
8 months
Other loans
Lenders
Tromso, Norway, Norway
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