Loan for buying a bread/cake mixer, and for cash-flow to expand the business

George

Nairobi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

George

Member since

August 2015

On-time repayments

219 installments • 78%

About Me

First of all I would like to tell thank to you to to given this opportunity to introduce my self too you. Am so glad to be alive now and despite the many challenges of life,i managed through out and i remain to be the testimony.i grew up in a family of 7,my Parents being just a business people they taught us good morals and thus the testimony.We grew up poor and this taught us to believe in ourselves in order for us to make our life beautiful.
i always wanted to work in the kitchen as chef, a dream i achieved after a long hustle of life,i joined into the catering business via a friend who connected me for my first job.i learnt the trade so beautifully and i have managed to work for many established business in town.in the course of my employments i had the urge to have my own and i did manage to register a business-gheorghes donuts.i managed to cater for upper class and middle class clientelle who are so much pleased with my works.The need for me to have my own have grown and despite the challenges of raising capital,i managed to start small.
as much as i am still in employment,i want to move own to fully run my shop which i intend to open soon,in the meantime i have been able to purchase just but a few equipments that would enable me to go into business fully.this is my focus and this is what i want to do.at the moment am chasing for papers from the authority with much hope that i shall be able to secure some funding to fully settle and run the business which i believe has a good potential to compete in the market place.i didnt allow my past life to deter my progress and this is the reason i remain focused into doing this business.
My strengths are believing my self, hard working, quick learner and trust on peoples.
My hobbies are watching movies, listening music and some times reading news paper.
My short time goal is to become a part of a reputed organizations and my long time goal is to succeed in my both personal and professional life.

My Business

We do recognize that there is a slight risk trying to open the, especially in a city location where bakeries have tried and not been successful before. The start up with a business such as ours is risky because it does require certain equipment that other businesses do not. Other obstacles include the permits and licenses that we would need to get in order to sell food but once we have passed these beginning challenges, we believe that our business will head in a positive direction. A luxury and high-quality bakery doesn’t seem to fit in the current economic status, but with our target market of the middle class playing a pretty prominent role in Kilifi county and the need for a more personal bakery in town, our business has the ability to not only stay open but be successful. This leads us to our biggest priority, providing customers of the gheorghes Donuts with quality baked products and an experience to take away from our shop. Our primary focus is on the quality of the baked goods. This will be the biggest difference between our current competitors and us. A goal of ours is that the shop will have a more modern feel and keep up with the technology that is always advancing around us. This includes both in-store technologies such as a website that we hope to create. Our website will provide an organized way to order and design cakes or cupcakes from home, similarly to the program on the in-store tablets. The online site will provide potential customers with an easy way to place orders as well as show them what our bakery is all about. Gheorghes donuts would like to make our customers feel as though they play a part in the bakery and the process of making their creations and we feel that the technology that we incorporate can help us do that. We predict that this shop will be a place where people stop and pick up items that they may want on a whim, or where they have come to pick items that they have specially ordered. Despite the fact that having a place to sit and eat is not our top priority we do want to offer some convenience to our customers by making a seating area available with a few tables and chairs. It’s our goods we are selling, but our service will assist with attracting consumers.

Loan Proposal

what i need now for the cake shop/catering shop is a small cake mixer,am getting a lot of orders for the pastries but since i have to use hand it sometimes becomes hard to achieve the targets.That is why i need to purchase this piece of equipment to enable me be relevant in the market.

I will be able to expand the business and thats the main reason for the request of the loan

1. Expansion
business is picking up, i want to continuing to grow the business to help ensure that the profits don’t plateau or shrink.

Of course, further growth has many costs, new property, building renovations, and increasing staff sizes, and it’s unlikely that i will have the cash on hand to cover it all unless i take it from the funds that keep your business operational.

the Loan can help me cover the expenses of expanding your business without eating the operational funds, so that i can continue to impress customers while growing your business.

2. Inventory
I have to invest in the products you’ll carry before your customers can buy them and offset the cost

3. Cash Flow
Cash flow is always a challenge for a small business, and it can continue to be a problem when you’re dealing with customers who don’t pay for services or when you have unsold inventory that needs to be moved to bring in new products.
By keeping money flowing through the business, i can continue to bring in new customers to drive revenue while making up for other losses.