Additional cereals for my grocery shop

Diana

Nakuru, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Diana

Member since

March 2014

On-time repayments

117 installments • 56%

About Me

I am the second born in a family of three. I was born and brought up in the village by my single dad who is a peasant farmer. He managed to educate me until I attained a bachelor‘s degree in education. After my studies, I got a job as a teacher and from there I started a general shop to improve my earnings get a better life. I use the profits to expand my business to a reputable size so that I can generate more and create more employment to the people affected by great unemployment levels in our country.

My Business

I run a general shop as my business, with a total monthly income of around 1200 dollars out of which 700 dollars is profit. I am advantaged to operate in an area with high population and a high demand for basic commodities and low competition. I always ensure excellent customer relations and also I provide goods at very fair prices therefore ensuring that I maintain my customers. Expenses in my business include rent, electricity and water that take up to 150dollars. I also restock every month the commodities that include flour, water, rice,sugar, soap among others. The risks the business faces include price fluctuations and changes in customer demands. These are handled by buying stock in bulk when prices are fair to avoid very high prices that in turn affect customers and buying commodities that customers need at different times respectively. In case I do not get enough profits to repay the loan, I will use my salary from teaching to repay it.

Loan Proposal

I intend to use the loan to add different varieties of cereals to my grocery shop. The cereals that I wish to add include lentils, peas, and different varieties of beans that my customers demand. The cereals, including 2 bags of lentils, 2 bags of peas, and 5 bags of different varieties of beans will cost approximately $120 in total. Adding more stock of cereals in my grocery shop will help meet the rising demand of cereals from my customers. Due to the lack of sufficient stock, some of my customers are forced to travel to the main market, which is costly and inconvenient for them. Hence, I intend to use the loan to improve access of commodities to the customers as I grow my business too, therefore enhancing convenience for my customers. Moreover, the additional cereals will play a vital role in growing my business, which is essential in creating job opportunities for the unemployed youths. I expect the loan to help my business grow and achieve a profit growth of 40%.