Inventory of charcoal for cooking fuel sales
Elizabeth
Kitengela, Kenya
100% repaid
Entrepreneur
Name
Elizabeth
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
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Loan Info
Project Type
Classic Loan
Disbursed amount
$594.00
Date disbursed
Mar 28, 2014
Repayment status
On Time
Projected term
14 months
Other loans
Lenders
WOLLONGONG, Australia
SOUTHBANK, Australia
Boston, United States
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guenter Jul 2, 2017
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