Entrepreneur
Name
S Kip
Member since
January 2015
On-time repayments
74 installments • 19%
About Me
I am from Kericho, i was born from a humble family and despite all the challenges i managed to complete my high school education with good grades which enabled me to join university in Kenya ( Egerton university) where i did Bachelor of commerce finance option,i have been trying to secure a job but have not yet , therefore due to well wishers and God intervention i am currently pursuing my masters degree in business administration which am expecting to complete this year. I married recently to energetic , good and caring wife.
My Business
being in kericho my business will be deal with buying of tea leaves from the farmers and selling the to factory where they are processed to tea, the business is good due to readily available market (the factory) and reliable suppliers who are the farmers i have been in the business for 2years its only that it is small-scale but the profit i generate is enough to sustain me and also fund some but of my education. The cost of buying 1kilogramme of green tea leaves from farmers is kshs 17 and the factory pay at least kshs 25 and at-most kshs 32 per ( Unilever tea company prices) and a yearly bonus of at-least kshs 12, therefor revenue per kilogram per month is at-least kshs 8, so with expansion of the business additional 8914 i will increase the kilos i purchase by 525 therefore additional profit of at-least kshs 4200 per month and bonus of kshs 5250 which will accumulate for that month but paid at the year end . Therefore this fund will boost me allot and change my life, and those of the people i will employee and not had to repay.
Loan Proposal
1. I intend to use ksh 500 to employe a worker to go round buying tea from farmers the cost per kilogram is ksh. 17 the company provide transportation to the company, they then buy this tea at a price of kshs 25 to 32 depending on prevailing market condition.
2. The remainder i will use to buy tea that is ksh 8414 equivalent to 93.5 dollars, the kilograms to be bought is 452 .
3. By this in my business am expecting to get a profit per kilogram of 0.11 dollars and per month is equivalent to 0.11 dollars*452 kilograms= 50.22 dollars.
with the cash I will be able to employee more with the projections ahead.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jan 21, 2015
Repayment status
Late
Projected term
17 months
Lenders
Shanghai, China
Orlando, Florida, United States
United Kingdom
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