Entrepreneur
Name
Esther
Member since
December 2014
On-time repayments
198 installments • 49%
About Me
My names are Esther Mumbua, an entrepreneur with an interest in the health sector. I come from a dry area in Kenya where a large portion of the populace are poor. This is largely because my country's economy is based on agriculture but my home area is not conducive for the practice. I grew under difficult situation because as a family we had to sell some properties to pay school fees. I have studied up to the University level and I have a Degree in Commerce. Currently, I working part time in a construction company. I started a business while searching for a better job. I was also motivated by the need to help locals in my area access medicines. Often, the government pharmacy run out of stock and people would be forced to travel long distances to reach a chemist shop. Besides travelling and helping, I also love travelling and site seeing. I would love when business is generating good profits to also assist others.
My Business
I operate a medium-sized chemist shop that sells legal and authorized drugs to the local people. Availability of drugs in my area is a problem and drugs are constantly out of stock in government pharmacies. sometimes people are forced to travel long distance to purchase prescribed medicine. I therefore saw it wise to operate a chemist shop to satisfy this need. Operating a chemist shop is quite costly, especially when it comes to purchasing inventory. At the moment I am increasing my stock, which is a challenge given that I have to pay rent and the shop attendant. Typical monthly costs are 15,000 KES, excluding the cost of inventory. The cost of inventory depends on the quantity ordered. Currently, my annual earnings are estimated at 150,000 KES. As the shop grows and judging by the increasing demand for medication, I believe the revenues will increase.
Loan Proposal
I have been running a chemist shop and I require capital to expand the business. Stock being a key aspect in my business, my plan is to increase it. This will increase my profits because the demand is high and the shop is strategically located. In addition, I will be in a position to stock items that customers seek and I did n't stock before. Often, health products are in high demand in my area especially because government sponsored institutions do not have enough. So we come in to supplement where the government is not able to cover.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$552.00
Date disbursed
Mar 22, 2016
Repayment status
Late
Projected term
31 months
Other loans
Lenders
Finland
Jake Gibson and Beverly Picardo
San Francisco, United States
Ask Esther a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.