Inventory of charcoal for cooking fuel sales

Elizabeth Wambui

Kitengela, Kenya

100% repaid

Entrepreneur

Name

Elizabeth Wambui

Member since

January 2013

On-time repayments

320 installments  •  74%

About Me

My name is Elizabeth Wambui, born in 1978 in Nakuru County in the Rift valley. I am a second born in a family of four. I underwent my primary education in lower solai in nakuru and later joined Lake Nakuru secondary School. I am single with two children one who completed her secondary education in the year 2012. I started selling Charcoal in Kiserian in Nairobi, then I was selling charcoal to kiserian town residents. Later I relocated to Kitengela where cost of operation was low. From my previous charcoal business, I was able to purchase a plot in Nkoroi area near Kiserian and constructed four room residential houses. I have rented this rooms though they are are still incomplete therefore the rent income is abit low. However they have been of great importance to me since I was able to educate my daughter up to form four level. The income from my business was also used for family upkeep and helping my parents back home. I also have interest in farming and have been doing it in my home place where i have rented a 1 acre of land in bahati nakuru and have been planting wheat and tomatoes and the returns are encouraging.

My Business

The main product i sell is Charcoal. The demand for charcoal here is on the rise since its affordable to the population around. With a group of about three, we hire a lorry that transports the product rom Narok where we obtain the the charcoal at a lower price. Charcoal is sold in bags and a bag goes for Ksh. 700 from the supplier. the same bag I sll it at Ksh. 1500 minus Ksh 150 per bag that I pay for transport. this brings a profit of about Ksh. 650 per bag. I also sell the same in small quantities and this is where its more profitable than selling in whole sale. A bag may result to about Ksh 2000 when sold in small measurements. In a good day, I can sell up to five bags while in other days i can selljust one. On average I do sell about bags at average of Ksh 1000. This translates to an average income of about Ksh 40000 per month and after paying all the expenses (Rent, security, labour e.t.c) I have about Ksh 20000 which is Net profit and I use the money to pay for my family upkeep, school fees and the rest to savings account. I am not the only supplier of this product. we are about 5 in the neighbourhood and most of the time we work together especially during purchasing so that we increase our bargaining power and reduce the cost. I have my regular and permanent customers whom i even deliver the product to their homes so that to maintain a good relations and make them loyal.

Loan Proposal

Hello Lenders, in my third loan, I want again to have an increase my charcoal in the business which is so far doing well, I have managed to increase my sales using my first and second loan this made me able to make my repayments as scheduled and have even completed earlier. Bulk buying is the key to reduce cost of production this will enable me reduce most of the expenses. I would also wish to construct a permanent shed where I will be keeping charcoal safely. So far customers are assured of regular supply and I have also been able to sell to other small scale dealers around so I do require to stock in abundance. Transport and other expenses are on the rise since most of the vehicles I hire charge high price because of license and this explains the need to have to get stock in bulk. I am hopeful that just like with the first loan, I will be able to increase supply and thus prospects of making more sales are high. May I take this opportunity to thank you for the good work. It is evident that you are changing peoples life through this noble idea. Thank you

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$593.48

Date disbursed

Mar 28, 2014

Repayment status

On Time

Projected term

14 months

Cost to entrepreneur

Lender interest: $593.48 at 1.75% annual rate over 14 months = $11.98

Service fee: $24.17

Lenders

D

dbedell

Brooklyn, United States

S

stroll

Stockholm, Sweden

G

guenter

Bremen, Germany

TK

Tim Koppel

WOLLONGONG, Australia

J

jjonas

berlin, Germany

R

Rking

Eugene, United States

T

TurgayAlihos

SOUTHBANK, Australia

camilberlin

Berlin, Germany

Cricketca

San Jose, United States

NativeTexan

Dfw Metroplex, United States

O

Odysseus

Auckland, New Zealand

Zal0m0n

Atlantis!!!! x), Mauritania

Sarasota

Sarasota, Fl, United States

M

marymarrs

North Bend, United States

E

Escalada

Bakersfield, CA, United States

markpearson

Portsmouth, United Kingdom

H

Haavard

Bergen, Norway

Z

zvrk2014

Brookline, MA, United States

J

jmwinga

Denver, United States

Paul Buchheit

Mountain View, United States

W

Wastels

United States

D

dcx119

Sri Lanka

kmgronquillo

Pampanga, Philippines

W

whlaing

United States

L

lftutton

United Kingdom

L

leumasmc

United States

A

abbasm

United States

B

binxbolling

Boston, United States

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