Additional cereals in my business

Anthony

Meroleni, Kenya

Funds disbursed

$0 to go

100% funded of $238 goal

0

days left

Entrepreneur

Name

Anthony

Member since

May 2017

On-time repayments

47 installments  •  72%

About Me

I am Anthony Katua, a Kenyan born way back in the year 1997. I live and do business in the Meloreni area of the larger Subukia. I am trained in mechanical engineering at a local college. This did not help me in securing a good job. I therefore, driven by desire to live a decent life and make a living, decided to start a business.

This business has been doing fine, and most of the time I am just in my business ensuring that it runs smoothly. My wife also assists greatly in running the business, as when am not in the business she takes over. Sometimes I do go out to meet customers and negotiate for orders. Besides doing business, I do read a lot, particularly materials that are inspiring and encouraging. I also like watching football.

My Business

I do own a posho (maize flour) mill that I started with help of my elder brothers and sisters. The posho mill does well, and at times I do sell flour and maize germ for farmers around.

The business is doing well, though recently there was a shortage of maize around due to low rainfall and maize disease that affected many farmers countrywide. This impacted high on supply and many businesses were down. In the months of August to January, the business does well since there is abundant supply.

Currently we have a crisis in Kenya at large, since maize flour (or unga, as it is commonly known) is in shortage. The rains have failed this year and it's going to be worse if something is not done.

Loan Proposal

With my fourth loan, I do intend to have additional cereals for sale in a partitioned section in my posho mill. I did learn some lessons from my previous venture that I should not rely on one product only. Upon stocking of maize which I bought at about 19USD, the price did not shoot up as expected, currently a bag is going for 17USD, this will mean a loss since the production was just too high leading to high supply and low demand. The maize therefore lies waiting for better price. This was not the case with other cereals like peas, beans and rice whose demand continue to rise. I do anticipate that with additional commodities for sale, I will have something to lean to when demand for one falls,also I will not be in a hurry to sell my products at a low price. My estimated budget for this activity is 500USD and will come in to add the remaining amount from my personal saving.

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About Me

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My Business

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Zidisha loans do not carry interest. Borrowers pay a service fee of 5% of the loan amount, to cover the cost of transferring and administering the loan.

Loans also carry a credit risk payment ranging from 5% to 30%, which is used for reimbursing lenders in the event of default. The credit risk payment decreases as you build a history of on-time repayments.

A one-time premium membership payment of 1,000 KES may be required in order to access higher credit limits.

Loan Proposal

With my fourth loan, I do intend to have additional cereals for sale in a partitioned section in my posho mill. I did learn some lessons from my previous venture that I should not rely on one product only. Upon stocking of maize which I bought at about 19USD, the price did not shoot up as expected, currently a bag is going for 17USD, this will mean a loss since the production was just too high leading to high supply and low demand. The maize therefore lies waiting for better price. This was not the case with other cereals like peas, beans and rice whose demand continue to rise. I do anticipate that with additional commodities for sale, I will have something to lean to when demand for one falls,also I will not be in a hurry to sell my products at a low price. My estimated budget for this activity is 500USD and will come in to add the remaining amount from my personal saving.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$238.00

Date disbursed

Jul 24, 2018

Repayment status

Late

Projected term

2 months

Lenders

Paul Buchheit

Mountain View, United States

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