Purchase inventory of rice and beans from farmers

David Ogero

Thika, Kenya

100% repaid

Entrepreneur

Name

David Ogero

Member since

March 2014

On-time repayments

282 installments  •  8%

About Me

I am David Ogero a Thika Businessman, a devout Christian and a family man; I have been in business for the last 9 years. I have previously dealt with the sales of phone voucher cards and farming.

Currently, I am dealing in Cereals business both wholesale and Retail. I have customers that range from individuals, hotels, and schools. I have a passion for business and would like to set up a cereal distributorship outlet in Thika town. I treat my customers with the respect and high level of honesty to ensure customers retention and satisfaction at all times.

Besides, I like helping the needy and those who are still inexperienced in business to succeed.

My Business

Having been in the cereals business for quite sometime, I am certain of making good profit from the proceeds with additional loan. Currently my monthly net profit have improved from 30,000/=($348.8) to 36,000($418.6) with additional capital that I sourced from Zidisha, I will be able to stock variety of cereals and do value addition for the products sourced from farmers. I am foreseeing my Sales turnover increasing with your partnership and I will be able to make an average profit of 50,000/= in the next 6 months, thus, approximately 60% increase. I will be able to employ more youths to help me do the sorting, packaging and distribution to my clients. I have only one employee now, but with additional capital, I am foreseeing employing two more youths.

Most of the Customers prefer my services since I do the sorting and distribution of the cereals to their establishments, which my competitors do not offer; this has lead to expansion of my target market, which I am not able to service due to limited capital. In addition, my customers pay in cash, making it easier to always have stock to supply to them.

Loan Proposal

In order to capture my growing clientele, I need this additional cash to purchase more stock and be able to have a steady financial flow. I intend to use the cash to purchase 1).2 Bags(@90Kg of Ethiopian Red Kidney [email protected], 000/= which I will pack into packs of 1 Kg and sell each 90/= Kshs, This translate to 90 packs, therefore getting a gross profit 0f 3,200 per Bag 2).1 Bags(90Kg). of Tanzania Green Grams each at 5,000/= after sorting and packing into 1Kg packs that goes at 100/= Retail Price, I will be able to make a Gross profit of 4,000/= 3). 40 Kg of Pakistan Rice( Each Bag goes for (1,800), from the two packs which I sell each Kg at 120/=, I will be able to make a Gross Profit of Ksh 800.


After Deducting the expenses, package plus transport, I forecast a net profit 6,000Kshs that I will pump back into the business. Averagely I sale a bag of beans in two days, Green Grams in three days, and Rice which is fast moving 40 Kg daily, thus averagely I will be making a net profit of 2,100/= Kshs($24). This amount when injected back to the business plus my current stock, will enable to expand on my stock and employ more youths to help in sorting and distribution. This process will see my business upgrade to Distributorship in a period of two years.


My strength is that I am focused and determined. Besides, I am able to hold and attract more clients.


My Weakness: The current weakness, is lack of adequate finance.



Opportunity: There is a high number of customers that are looking for sorted cereals, as it helps them save on time. The clients ranges from Residential to commercial customers.



My Threat: Well established cereals, with a good cash flow, this dealer are able to source for the cereals directly from the farmers. With additional capital overtime I will also be able to source directly from the farmers and make a good profit from the sales.


In conclusion, the loan will able along way to add on stock and expand my business, thus why I am seeking for the Kshs. 12, 938/= to directly invest to my business. I will be able to pay the loan comfortable as my business grow to high levels.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.33

Date disbursed

Jul 17, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $150.33 at 9.08% annual rate over 2 months = $2.36

Service fee: $0.93

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