Buying of cereals

Emily

Nakuru, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Emily

Member since

January 2015

On-time repayments

203 installments • 28%

About Me

My name is Emily, married with two children. I finished my O levels in 2009 and I could not go further to college since I lacked fees for the same. I then resolved to do some small business of buying and selling of cereals before I got married.
Though this business was once in a while I managed to survive with the profits I made for my upkeep.

My Business

I restarted my business of buying maize and beans late 2013 because I realized that my customers had started looking for my goods. Buying of maize on season especially November - December is usually favourable since the farmers are selling at a lower prices compared to the other months of the year. Since my county is favourable for maize and beans I found out that dealing with these two commodities will not give me a lot of stress. Note that I need not to go far, I just buy at my home and customers just bring their produce to my door step.
I stock my maize and beans until the time when the prices have hiked up. For beans I usually wait until April when farmers will be looking for seeds, (initial price of 90kgs is at Ksh. 4500 while the price I sell is Ksh. 6500 i.e a profit of Ksh. 2000)
At times I sell them to nearby secondary schools for consumption, I don't incur any transport because they come for them. For the maize the initial price is Ksh. 2000 and I sell a bag(90kg) at Ksh. 3,000 thus a profit of Ksh. 1000.
The challenge which I face is the finance to buy more cereals because at times I receive a lot of bags but cash do normally limit my buying.
My profits I make from my business are usually used to reinvest in it, and also meet the other needs like paying school fees for my first born daughter.

Loan Proposal

I intend to stock more of cereals since I have a ready market for the same. Since I have already bought Maize for last year I will now add some few bags although the price is a bit high I do hope that at least I will something out of it. The price now is US 30.06 so I intend to add around 4 bags, I believe by March/April I will sell at US 38.97 i.e a profit of US 8.9.