Producing mop buckets and watering cans

Francis Nyaga

Gakoromone, Kenya

100% repaid

Entrepreneur

Name

Francis Nyaga

Member since

April 2013

On-time repayments

293 installments  •  65%

About Me

l am the first born in my family among four children,we have been brought up by a single mother due to the divorce which occured when l was young when l did not know anything just am being told what happened,l live at gakoromone in meru with one wife whom l married year 2010 and we have been blessed with one duaghter,l am a business man having a passion of prospering in life,as far as my education is concerned l am a form four leaver who sat for k.c.e.s exam year 2005,in the year 2006 l was employed as a sales man in a certain jua kali in meru up to last year a month of six[june],after one month l started my own business in order to cater for my needs together with my family,l purchase more stock with some earnings which l get from my business inorder to keep my business alive.

My Business

as l have indicated above,l started my business last year 2012 in month of seven[july] since l had gained alot of experience from where l was employed,l deal with making and selling of jua kali product such as jikos,ngatas,sufurias,metal buckets etc,they are highly demanded since most them are household goods which one cannot do without,my customers prefer my goods because they are of good quality and that whenever any customer visit me l handle him or her with due respect as l can,my business is profitable because whenever customer visit me at first time he or she feels to come later and when he or she will becoming later there will be an introduction a new customer, secondly l manage properly the profit which l get from the business,my business face a risk of competition,my typcal monthly costs is 17,000kenya shillings while monthly sales is 35,000kenya shillings and lastly my monthly profit is 18,000kenya shillings.NB among this profit the basic needs have not been deducted.

Loan Proposal

I will use it to expand my business through buying more materials to make mob buckets and watering cans.This two items are most demanded as far as my business is concerned since this season is of short rain as far as my location is concerned.Therefore mob buckets are demanded most where many people will use them to clean the office,business rooms,house and many others.While watering cans are mostly needed by farmers to sprinkle water on their plants since this rain it rains while pausing for two weeks and within this two weeks plant need water and failure to provide water to them they will dry up.

Feedback

4

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  • Margaret    Sep 12, 2017

    Francis paid off his loan in a timely manner. I would gladly lend to him again and encourage others to do the same.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$105.06

Date disbursed

Apr 4, 2014

Repayment status

On Time

Projected term

4 months

Cost to entrepreneur

Lender interest: $105.06 at 8.33% annual rate over 4 months = $3.20

Service fee: $1.36

Lenders

W

Walekkelson

Brisbane, Australia

A

aiban

Austin, United States

L

leniwiec

Poznan, Poland

B

bek88

Fairview, United States

H

howard

Vence, France

Sarasota

Sarasota, Fl, United States

dlpringle

Denver, United States

L

leumasmc

United States

A

ATMiller

United States

M

mkrsko

Slovakia

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