Boost my food retail business to pay my brother's fees

Richard Gichuna

Meru Town, Kenya

100% repaid

Entrepreneur

Name

Richard Gichuna

Member since

February 2015

On-time repayments

45 installments  •  31%

About Me

My name is Richard Gichuna, I am a 24 year old Kenyan citizen. I come from Nyeri county but I am currently living in Meru county, and this is where my business is based. I completed my high school education back in 2008 but I did not make it to University. However, I have developed a go getter attitude that I was taught by my parents when I was growing up. I have learned that you can get anything in this life only if you focus. I come from a humble family, and I assist my parents in paying my younger brother's upkeep. I really need assistance from members of Zidisha community since, the growth of my business means a lot to my business and my family too. Any assistance from dear lenders is welcome. Thank You in advance.

My Business

I have specialized in distribution of fast foods in Meru town, and I have a great passion for my business. My main customers are people working in shops, mechanics and travelers mainly at the Main stage. The type of food that I prepare everyday depends on consumer preference. Most people are familiar with my products around town, and I have very reliable and steady customers. I deliver my food products to customers at shops, offices, bus stations and other areas in town, and I have not hired anyone. However, when my business is relatively stable I have a plan of hiring a few people to help me exploit the Meru town consumption market. Gakoromone market is very close to the place I live, and this is the place I shop most of my food products at cheap prices. It also means that my food is fleshly cooked, and that is why my customers are so loyal. I would like to seek loan funding from this forum to assist me in growing my business as well as personal development.

Loan Proposal

I distribute cooked food products in Meru town. I prepare ready pilau, Matoke, Githeri, Chapati and Uji right from my house and distribute the same in Meru town.On a good day, I make up to 1000KES which translates to about $12. I intend to use the profits of my business to support my younger brother's education, and use the rest to grow the business. I will use the first $ 10 to add on the plates and another $ 22 to buy cups and serving spoons respectively. I will use the rest of the amount (around $ 55) to grow my business with stock. This means that i will buy more food products to diversify my menu list. My projection is that i will have enough profits to pay the loan and pay my brother’s school fees. I am optimistic that I will make it with the support from members of this forum.Any assistance from this forum is highly welcome. Thanks dear friends.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.38

Date disbursed

Feb 23, 2015

Repayment status

On Time

Projected term

4 months

Cost to entrepreneur

Lender interest: $100.38 at 0.92% annual rate over 4 months = $0.39

Service fee: $1.58

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