Entrepreneur
Name
Domnic
Member since
December 2014
On-time repayments
253 installments • 30%
About Me
I grew in Kamser Sub-Location and schooled in Kamser Primary School upto grade five before moving to Seka Primary School for grade Six-Eight.I lost my parents be joining Oriwo High School for secondary education thank God my dad was wise enough ,as young as I was he taught me house to leave .He was a horticultural farmer growing mainly kales and tomatoes and took over after he passed on and started growing the crops on our farm which is located on shore of Lake Victoria,while I was at school,I used my saving to pay some people to take care of the farm.The farm produce were needed in my school since all children were boarding and had to eat kales everyday,sometimes lunch and supper,I became the school supplier and that catered for my fees for the four years at school.
My Business
I am currently buying and selling various consumable and non-consumable goods like sugar,flour,cooking oil,body lotions,soap,.The consumable goods are ever in high demand and that is why I chose this king of business having seen the high population.A dozen of maize floor cost $ 10 and is sold to the consumers @ $ 14 and two kilogram of sugar cost @ 2 from wholesalers and sold @ $ 3. The proceeds will be used to improve the business as well improve my life and that of my small family.I will be able to get increased profit with increased loan amount on the goods I am going to sell.
Loan Proposal
I m going to use the new loan to start buying and selling school stationery like books,pens,pencils,envelopes,printing papers,files and examination papers for schools.I will purchase 125 pieces of 200 pages of exercise books which will cost $ 70.I will also purchase 12 packets of biro pens @ $ 40 and sold @ $ 54, 200 pieces of pencils will cost $ 23 and sold $ 33.The balance of $ 67 will be used to purchase sugar and maize which are the main moving commodities.The stationery can be sold within 3- 5 days then other purchased and sold again.My profit will increase by close to 50 % with the new loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$197.00
Date disbursed
Apr 17, 2015
Repayment status
On Time
Projected term
3 months
Other loans
Lenders
Germany
United States
South Africa
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