Business expansion loan for my wines shop
Douglas
Nakuru-lanet, Kenya
13% repaid
Entrepreneur
Name
Douglas
Member since
December 2014
On-time repayments
204 installments • 14%
About Me
i am a kenyan citizen by birth aged 29. i grew up in a rural set up and went to ogango primary school from the year 1992 to the year 2000. i passed well in primary and then joined eronge secondary school from the year 2001 to the yaer 2004 passed well but never attained my minimum target. i enrolled at gesure secondary for a second chance to attain my target. i then passed well and joned moi university fron the year 2007 until i graduatd in the year 2011 with a bacheror's degree in communication and public relations. sinse then have been teaching in a local girls high school in support of a girl child. Am married to one wife and we are blessed with a daughter and a son
My Business
My business is the sale of wines and spirits. I do sell different original brands of different wines and spirits. I chose this kind of business because of two reasons:
1. To readily provide a better and affordable liquor to the low income populace that had resorted to the cheap and illigal alcoho which attimes is contaminated with methanol hence poisonous. My location of the business is easily accessible to such people and have made prices avodable my minimising profits. I was mainly influenced to venture into this by the alarming cases that were reported in my country of deaths arising from the consumption of illigal liquor.
2. After my indebt research, i established that this was the busines opportunity available in the area.
The profits i get from my business is used in different ways:
1. I reinvest 20% of it in the business. This has seen my business grow by 38% compered to this time last year. This enables me to reduce the prices of goods even further to discourage the people from resorting to the poisonous and illigal liquor.
2. I also use some of the profits to pau school fees for my daurter and one orphan child who is under my care.
3. I also use the profits to suppliment my small salary to provide for my family's daily needs.
Loan Proposal
i will use this loan to purchase more stock. and other equipment like fridges which costs ksh. 8500, more cups at ksh 2000, expand the room of the business at a cost of 5000 ksh and increase the number of furniture at a cost of ksh 3000.
this expanded business will create customer satisfaction and also increase the number of my customers. it will also enable me increase sales by around 3000 shilings per week hence enabling me to pay school fees for my child and an orphan of my cousin that i am staying with.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$187.00
Date disbursed
Jul 1, 2015
Repayment status
Late
Projected term
42 months
Other loans
Lenders
United States
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