Buy a modern oven for my bakery

Ann

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Ann

Member since

May 2015

On-time repayments

302 installments  •  46%

About Me

My name is Ann Migwi born and raised up in Muranga county in the central region of Kenya.

However, I navigated life safely into adulthood after having covered primary and secondary school education. I then left home to join Daystar University in the Nairobi City where I pursued my degree

I graduated and later secured a job in contract bases. Since then, I have been doing baking services having been trained in this area while still doing my degree course.

My Business

I am in baking business where I make cakes for all occasions like weddings, birthdays, anniversaries etc. I also do confectioneries such as queen cakes and supply them to retail outlets. I do this on a very small scale since I do not have adequate capital to expand and market my products effectively.

I also use makeshift oven which is not only slow but its finished product is now what it would really be if I was using a modern oven. There is a huge potential for the business since I live in a densely populated area where I am assured of demand all the time.

I am currently making about $300 from the business but half of it goes into covering my overheads. I am currently running the business from home so as to cut the expenses.

In enhancing my knowledge and improving my skills,I have doing this through YouTube which flexible and easily accessible. I have been able to impact the community by training them on how to use YouTube as a mechanisms to get skills,which is more cheaper as compared to attending class which one may incur huge amount of money.

Loan Proposal

If granted this loan, I will use the money to buy an oven for my baking business. A new oven will cost me $220 and this loan together with assistance from some family members will make this a reality. The acquisition of this oven will mean better quality products and the production will take a shorter time.

This will definitely lead to more sales and hence more profitability.

Feedback

1

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

May 14, 2015

Repayment status

On Time

Projected term

8 months

Lenders

H

halisi

assenede, Belgium

H

howard

Vence, France

Laparo

Dusseldorf, Germany

C

christine

Switzerland

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  • Mårten    Nov 6, 2022

    Hi Ann,
    how's it going?

    All the best,

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  • Ann    Feb 5, 2022

    Business variation due to high cost of product and thus reduction production

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  • Ann    Dec 2, 2021

    Reduction in cashflow

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  • Ann    Dec 1, 2021

    The reduction of cashflow

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  • Lewish    Jun 21, 2021

    I have advised her to continue to repay the lower amount she is comfortable at the moment.

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  • Lewish    May 17, 2021

    I've talked to Ann and agreed to continue her repayment schedule, a lower percentage of customers in her cake business is the reason for late repayments.

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  • Hadija    Apr 19, 2021

    Hello,
    I wasn't able to reach Ann at the moment but I'll try again later on

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  • Ann    Feb 22, 2021

    Low business

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  • Ann    Feb 10, 2021

    Business low

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  • Patrick    Jan 28, 2021

    She will reschedule her loan as I have advised her and continue to repay the lower amount she is comfortable at the moment.

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  • Ann    Nov 24, 2020

    Business challenges

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  • Janice    Nov 19, 2020

    I have called her and reminded about the loan instalment that is still overdue.

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  • Ann    Sep 30, 2020

    Business is not forthcoming

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  • Janice    Sep 22, 2020

    She is still willing to continue with her loan repayment as soon her business comes back to normal.

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  • Ann    Aug 25, 2020

    Low business

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  • Janice    Aug 20, 2020

    Her business is.not making profit,which I have advised her to reschedule and continue paying the little amount she is comfortable as at now.

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  • Ann    Jul 5, 2020

    To adjust in business

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  • Ann    May 19, 2020

    Due to straining economy due to pandemic

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  • Ann    Apr 23, 2020

    Not operating the business due to global challenge

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  • Janice    Apr 17, 2020

    She was able to change his payments downwards due to the nature of her work.

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