Expansion of my cooking gas supply business
Michael
Taasiah, Kenya
70% repaid
Entrepreneur
Name
Michael
Member since
January 2015
On-time repayments
26 installments • 31%
About Me
I was born in Bungoma County in the Western region of Kenya 22 years ago, in a community that values its tradition .I grew up there, I schooled in a primary school there called Kabuyefwe Primary, I also was circumcised there at a ceremony presided over by a former minister for environment and forests who hailed from the Bukhusu community of the Luhyia where I belong. This was very interesting. after I completed my class eight and attained the Kenya Certificate of Primary Education with good grades. I was to join a High school there but relocated to Central Kenya of Kiambu County where I studied my secondary Education. I returned to Bungoma after it emerged that i could not finish my High school there. I eventually did my KCSE and attained a certificate with B-minus and in 2013, I joined a local university where am doing my Higher Diploma in Communication studies.
My Business
I began doing business the moment I joined Campus in Nairobi. I realized that I could not survive with a small amount of money my Dad and mum gave me as part of my pocket money since a college students always needs a lot of money to survive. I joined a friend of mine who told me to work with him in his Fuel business in Taasia area of Embakasi Nairobi's East lands.
After working there for some time like three months, I planned on how to start mine having surveyed the area and noting what is on demand. I began a Gas supply business which I installed in my friend 's fuel business. This guy was my class mate in college you know. This place is strategically positioned since people of all walks pass through there all the time so they just pick their Gas Cylinder and leave.
Currently, I have 30 gas cylinders of 7kg and 10 of 13Kgsnet. one 13kg cylinder goes for 2300 while that of 7kgs goes at 1050. in each cylinder for 13kg and 7kgs, I get a profit of 500 each respectively. Therefore per day, I can sell at least 5 cylinders at a maximum profit of between 2,500 and 5000. I use this profit to pay my college fee, and also pay my hostel,and foods plus other expenses. I also save for my child who is at home and yet to start school.|I no longer depend on my father for any expense.
Loan Proposal
Dear lenders, as m you can learn from my business description above, I have really taken time building this business. I now seek to get a much bigger store that is secure and where I can store a stock of used gas cylinders for refill. I spotted a room just adjacent to where my main business is, its charged at 6000Kes per month. I already have 12,000 from my previous savings. I need to pay for this room at least three months in advance, I therefore need some cash which I hope I will raise here, so that I can acquire this room for my business expansion.
Basically, all the money I will raise here will go towards the acquisition of this extra room for my business.Kindly help me.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jan 28, 2015
Repayment status
Late
Projected term
6 months
Lenders
United Kingdom
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