Entrepreneur
Name
Samwel Mwita
Member since
May 2017
On-time repayments
35 installments • 49%
About Me
I was born and raised in Kuria in very hardship with my parents having to work on tobacco farms to get us food,clothes and pay fees for our education.
I learnt up to Form 2 and dropped out of school for lack of fees. I joined farming and managed to raise some capital to roast groundnuts for sale and I later started a small shop called a kiosk which I operate with the help of my wife.
I'm married with four children all of whom want to be teachers.
I do some farming and I like singing in the church.
My Business
I sell fast moving goods like sugar,salt,oil,tea ,soap etc. I chose this business because most people use them and they are abit cheap.
They are used in everyday life and in every home.
They not highly profitable but they sell quickly ,I get some good profit because for every KES 10000 used for new stock I get 1000/- more in two weeks.
The profits I get I buy more goods ,buy some food ,pay some fees for children and also some home materials.
The business helps me.
Loan Proposal
Sugar sells quickly here because of the love for tea and it's taken each morning and sugar is used. I will be able to buy a 50kg sack of sugar from neighboring Tanzania where it is cheaper because I'm closer to the border.
These sugar will be bought at USD 32 and a kilogram will be sold at USD1.2, meaning I will have gotten a profit of USD 20 which I will use to add more stock,pay some fees and also feed my family.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$39.00
Date disbursed
Sep 10, 2017
Repayment status
On Time
Projected term
6 weeks
Other loans
Lenders
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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