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Benedict

Kiptangwanyi, Kenya

45% repaid

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How it Works

Entrepreneur

Name

Benedict

Member since

October 2011

On-time repayments

23 installments • 61%

About Me

I live in kiptangwanyi shopping centre. I am a tenant in plot number 57, house number 3. i am married with one child who is schooling. My business entails the selling of kerosene in the shopping centre. the business has high potential because this area is within the interior and therefore many people are not connected with electricity. this therefore means that many people rely on paraffin as their source of energy and this makes this commodity to have a very high demand.

My Business

my business entails the services of selling paraffin to consumers. the reason made me decide to start this type of business is the high demand for kerosene as many of them rely on this for lighting and also as a source of energy for cooking in their stoves. The main challenges that this business encounter is fuel shortages, fluctuation of prices of this commodity as well as bad weather conditions that make the roads become impassable especially during the rainy season.The business is profitable because many people in this region are still not connected with electricity and therefore they rely on this product making its demand to be very high.

Loan Proposal

Dear Lenders,
I would like to use my second loan to purchase a new fuel pump. I would also like to open another kerosene selling outlet. The first loan assisted me so much in expanding the business and it is now well established. My customers have increase and also my revenue is good. I was able to repay my loan without difficulty and it is my sincere hope that this second loan will boost my business a great deal.