Buying of green tea leaves

Alfred Keter

Kericho, Kenya

100% repaid

Entrepreneur

Name

Alfred Keter

Member since

January 2015

On-time repayments

86 installments  •  31%

About Me

I am the first born son in a family of five. Who has managed all odds in the family, My father passed on when I was in class seven and I have struggled through in life to completing my form four (High school education). my mum who is not willing to support me as well as my other siblings. I finished my high school in 2009 and passed very well. Despite all this I am still struggling to find fees for my further education. i am currently struggling to cater for my 2 younger sisters and a brother. My relatives did a lot to provide for my High school education and for this I owe them a big gratitude. though they have not continued with there support I believe it is because they also have there siblings to look after. I am currently paying School fees for my younger sisters and brother who are in Academy within Kericho county.

My Business

I started the business of buying and selling of tea leaves in 2010 but could not fully pick up because of capital. I then went for a part time employment (in a bar) to cater for my capital of which I raised Ksh 5000. This enable me to proceed with my business of buying and selling of tea leaves. To date the business is running very well and my sisters are progressing on well in school. The main challenge which I am experiencing in this business is lack of capital. After I realized that all my profits go to fees for my sisters.

Loan Proposal

When I get this loan,it will help me improve on my Tea buying and selling project following ways;
1. I intend to use 70 dollars to buy more green tea from farmers
2. The remainder i will use to pay for my sister's school fee .
3. By this in my business am expecting to get a profit per kilogram of 0.2 dollars and per month is equivalent to 0.2 dollars*600 kilograms

with the profit which i will get from the business I will use it to build my house of which I am currently living with a friend.

I will be greteful for the loan

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.16

Date disbursed

Jan 20, 2015

Repayment status

On Time

Projected term

5 months

Cost to entrepreneur

Lender interest: $100.16 at 1.52% annual rate over 5 months = $0.66

Service fee: $1.62

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