66 installments • 42%
My name is Alvins Okumu. I come from a family that consists of my four sisters and myself as the only surviving brother. My parents have both died. My Father, Mr Thomas Okumu Opar was a roads Engineer and my late mum was a teacher. I am a marketer by profession and also has vast interest in Paints and allied products after working in that sector for over 10 years. I live in my house in an area called CHOKAA village also known as lower Niru just next to the Light industries. My wife and I own a second hand clothes business where we buy in bales and re sell.We are buying bakery materials and fast foods items in preparation for our next business venture. I also own a Paints and allied products distribution business where I supply the items to workshop owners and contractors. I have a small poultry farm that I set up using the first zidisha loan. I have also managed to pay school fees for an aids orphan whom I am now staying with due to the additional income from the sales of eggs.
I have a small company called ESTOM VENTURES. I buy and re-sell paints and allied products like wood glues,thinners, turpentine and varnishes. These items are of high demand because more people are building their houses hence the need to paint them as per their taste. There is also a rising demand for furniture and the items are vital for a perfect finish. I have a competitive advantage over others because my painters offer quality painting services.The business is profitable because i buy from manufacturers and re sell at a good margin and also charge a fee for the painting. I set aside about Ksh. 50,000 monthly for my stock and other related expenses.My profits is about Ksh.20,000 to 30,000 monthly. I intend to use the loan to put up a bigger structure for my poultry and buy more chicks.Right now I have 30 chichs but my desire is to have 300 and above as my poultry target. My clothes business have a good returns of about Ksh. 6000 to 8000 weekly and most of it can be used to repay the loan in a short period of 6 months.
I have always desired to help other youths lift their living standards and this incubator will be used to hatch chicks and sell to them at an affordable fee . I have identified a few that have formed groups to raise money for the chicks and I desire to be their supplier.
The cost of incubator = Ksh. 62, 500
Our exchange rate =Ksh 88 to the dollar
The cost in dollars = $ 710
Once again I am appealing to you honorable lenders to help us realize this collective dream.
Nov 10, 2014
Cost to entrepreneur
Lender interest: $708.83 at 7.69% annual rate over 9 months = $42.83
Service fee: $20.35