Cashew nut restocking
Paul
Mombasa, Kenya
$0 to go
100% funded of $147 goal
0
days left
Entrepreneur
Name
Paul
Member since
December 2018
On-time repayments
5 installments • 60%
About Me
My name is Paul Kihugi Gikuni Joseph, a Kenyan residing in the coastal town of Mombasa. I grew up in the rural village of Kiambu county where poverty and hardship was the lifestyle. My parents nevertheless managed to educate me up to college level where armed with a certificate in sales and marketing started to look for a job and after about five years of tarmacking, i fortunately landed a job as a sales driver in Nairobi and later transferred to Mombasa where i was promoted to a sales representative but with the meagre salary and a young family, i was not satisfied and armed with business experience, i launched into cashew nut business and since then, i have not looked back as the future looks bright. i have a dream of a large factory where my children shall be managing without the hustle of which i went through. I love music and this happens to be my hobby and playing the instruments(bass guitar)
My Business
My business precisely deals with selling raw and roasted cashewnuts. The coastal region is the source of cashewnuts whose demand is always high due to scarcity. i chose this business due to prior experience from the previous employment. Depending on the prices, profits can range from 20-25%. Costs include transport, electricity and purchases from suppliers. Revenue is from daily sales made.
The income i get goes to rent, educating my children and saving in an investment club for the future. I also re invest to grow my business.
Loan Proposal
I will use the loan to top up cash in hand up to Kshs 80,000 to stock more cashew nuts before the season ends. Due to the increased supply of cashew nuts, the profit margins are good at 25%.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$147.00
Date disbursed
Mar 6, 2019
Repayment status
Late
Projected term
2 weeks
Other loans
Ask Paul a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.