Buy cooking fat for retail resell

Annastacia Mutisya

Wote, Kenya

100% repaid

Entrepreneur

Name

Annastacia Mutisya

Member since

August 2017

On-time repayments

16 installments  •  88%

About Me

I am Annastacia Mbovi Mutisya. Went to Primary and Secondary In the nearby villages and excelled well. I could not continue with studies because of my parents were poverty stricken. Am gland I have worked in various places and helped my parents. I later had a dream to begin my business where have started in various towns and closed due to lack of fund. Finally have come accross a new area in Mumbuni and my business is growing exponentially. I am now here to look for finance to boost my business retail shop stock. I have a girl in school and I support her education while she is being brought up by my aged parents as I also support them . My hobby is travelling . My daughter would like to be a nurse when she grows up

My Business

I have a shop where I sell fast moving house hold goods such as milk, rice, maize flours, sugar ,candy and plenty of vegetables for daily consumptions. Its high time everyone demands this goods on daily basis regardless of whether they are farmers or not. Many of the residents of this are are cash crop growers concentrating on mangoes and oranges for export and hence require to buy their stable food on daily basis after the sale of the cash crop which is annually on seasonal basis. The area is also categorised of many youth with consumption of luxury non basic needs goods such as cigarettes and other such kind of goods. I supply to them all the goods legally authorised in Kenya. I also buy roasted peanuts for sale to the youths as part of the fast moving goods.My typical profit in a month is approximately Kes 10,000 where I use Kes 2,000 to pay rent , Kes 5,000 to support my parents and daughter education and the rest for my consumption and house rent and the remainder to boost my existing business. I have recently ventured in Charcoal retailing business and is giving me good returns

Loan Proposal

I intend to buy a 20l jerican of cooking oil for resale. Cooking fat has a high demand in the area because of readily available cheap budget of chapatis in hotel as mainly food for the day. Maize flour prices has gone up and hence the reason people are going for baking flours. A 20 litres jerican of cooking oil cost Ksh 2300 and since a litre is retailed at Ksh 160 the selling price for 20l jerican is Ksh3200 or more since small amounts are sold at a higher price the proportions not withstanding.
I will then be able to make a profit of at least Ksh 1000 in a weeks time. I intend to use the profits to pay shop rent and for my kid upkeep since she is now staying with me at town not with her grandmother as she does when its school time.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$18.48

Date disbursed

Nov 10, 2017

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Service fee: $0.81

Lenders

Urszula

United Kingdom

Suellen Sorenson

San Diego, United States

HH

Helen Horseman

United Kingdom

Kevin

United States

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