Grace Ndungu

Nakuru, Kenya

16% repaid

Entrepreneur

Name

Grace Ndungu

Member since

March 2013

On-time repayments

14 installments  •  36%

About Me

l was born in Nakuru county and attended Nakuru high school and later joined Menengai training institute where l was trained as a secretary.since jobs were hard to come by l opted to go for self employment my friend introduced me to the cereal business. my elder brother advanced me ksh 10,000 that l used as the initial capital for the business.since there was a lot of demand for the cereals and especially rice l; thought of opening a store instead of operating in the open market and later rented a store in the bargain area of Nakuru up to today.am married with three kids and business help me to meet their needs and most of the earnings l buy more stock for the business.

My Business

l normally stock all types of cereals that includes rice, maize,beans, kamande, ndegu.most of the cereals l buy from the farmers at a fair price and since l buy in large quantities their prices are relatively good and able to sell to my customers at a competitive price and this enables me to make more profits.l do also look for orders from the schools around and supply them with the cereals.this has boosted my profits and right now l want to venture into hotels in and within the town.the business gives me around ksh 30,000 every month as profit and mostly do sell around ksh 150,000 as sales.the future of my business is very promising and if advanced with the loan it will help me in buying more stock.

Loan Proposal

dear my lenders, am so greatful to all of you for this far.its great to me.with this second loan, am going to buy more stock to stock my cereal shop during this harvest season in this area, so that i will be able to meet my clients demands.in this season, the products are in cheap price compared with the other seasons.am going to buy grains, e.g. maize in bags of 90kg,beans. millet sorghum,and many others. i hope the cash will help me very much during this season.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$265.29

Date disbursed

Nov 11, 2013

Repayment status

Late

Projected term

9 months

Cost to entrepreneur

Lender interest: $265.29 at 8.85% annual rate over 9 months = $18.52

Service fee: $7.30

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