Entrepreneur
Name
Christine
Member since
March 2017
On-time repayments
55 installments • 35%
About Me
I am a home baker. I am married with nine children. I live with all of them including my husband. All of our children are in school. I am a stay-at-home mom who bakes to make money on the side. I bake using a charcoal burner for now, as I cannot afford the price of a gas oven.
The challenge with this is that when I get more than one order, I cannot bake them at the same time. I have to bake the cakes one by one. One time, I got three orders on the same day and had to forfeit two night's sleep because my charcoal burner can only bake one cake at a time. Another challenge is I cannot expand as quickly as I want to. I want to go into the whole range of baked goods and sweets but I find myself limited by my equipment.
A gas oven would go a long way in allowing me to expand my home business and hopefully make more profits. This, in turn, will help improve the quality of life for my family and ease the expenses overall of our family.
My Business
I bake cakes for all occasions: birthdays, weddings, anniversaries and any sort of celebration, including a 5-tier wedding cake I delivered to my client. So far, the business manages to pay bills and put food on the table even with limited equipment. I love baking, a trait I inherited from my grandfather who used to bake bread and supply to schools. My revenues vary from month to month, but on a good month I can make $500. After removing running costs for baking materials, the rest goes into school fees for the children. I find that I cannot expand as I would like because after paying fees, nothing is left over.
Loan Proposal
I intend to buy a commercial oven to enable me bake many cakes at once, and also add some commercial baking equipment like mixers.
About Me
I am a home baker. I am married with nine children. I live with all of them including my husband. All of our children are school. I am a stay at home mom who bakes to make some extra money on the side. I bake using a charcoal burner for now as I cannot afford the price of a gas oven.
The challenge with this is that when I get more than one order, I cannot bake them at the same time. I have to bake the cakes one by one. One time I got three orders on the same day and had to forfeit two night's sleep because my charcoal burner can only bake one cake at a time. Another challenge is I cannot expand as quickly as I want to. I want to go into the whole range of baked goods and sweets but I find myself limited by equipment.
A gas oven would go a long way in making me expand my home business and hopefully make more profits. This in turn will help improve the quality of life for my family and ease the expenses overall of our family.
My Business
I bake cakes for all occasions. Birthdays, weddings, anniversaries and any sort of celebration. I have been in the baking business for 4 years now. The picture up here shows a 5-tier wedding cake I was delivering to my client. So far the business manages to pay bills and put food on the table even with limited equipment. I love baking a trait I inherited from my grandfather who used to bake bread and supply to schools. My revenues vary from month to month but on a good month I can make $500. I bake at least 4 cakes every month, at an average cost of $20 each. I do at least 1 wedding a month at the cost of $250. After removing running costs for baking materials the rest goes into school fees for the children. I find that I cannot expand as I would like because after paying fees nothing is left over.
With this loan I would:
- purchase a gas oven at $539.90.
- refill gas cylinder with gas at $30.
- buy two additional extra large baking tins at $30.
- mini kitchen scale at $35.
- kitchen mixer at $359.95
Total cost: $994.85
Loan Proposal
I intend to buy a commercial oven to enable me bake many cakes at once, and also add some commercial baking equipment like mixers.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$995.00
Date disbursed
Mar 15, 2017
Repayment status
On Time
Projected term
21 months
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