Entrepreneur
Name
Millicent
Member since
May 2015
On-time repayments
99 installments • 2%
About Me
I am a twenty six year old lady. I was born in a family of five children and i am a second borne in my family. My elder sibling never had that chance to study until secondary level but she managed to do her primary course and this was due to lack of money to pay for her school fees. In the meantime she did house chores as a maid for people and this way she managed to go to for her primary level studies. I thank God i managed to complete my secondary level due to my sibling's love for me and the entire family members. Our parents died when we wete still young do we had to fight on our own inorder to get our daily needs. I yearned for the idea to continue with my studies to higher levels having got high grades in my final exams. This has never happened due to lack of money for school fees. I gave a thought to the idea of beginning my own business of selling food stuffs which include fruits and as a result i put the idea into action after receiving some funding from a close uncle who owns a cattle farm near our home. Among the foodstuffs i sell include fruits like oranges, bananas, tomatoes, onions and sugarcane. I believe this business will grow day by day if given more funds to add up my stock and make more profits. I believe the savings will add up and sooner or later they will help me continue schooling to college level and achieve my dreams of becoming a public relations manager. Some of the challenges that face me at times include the strict rules from the city council that do not allow selling of food stuffs nearby the road due to lack of business license and the high tax rates. Another problem is the loses i incurr as i have to provide for the family's daily needs so i end up making loses. There is the problem of the fruits perishing if they are not bought on time and this leads to loses. Hope i will put an end to the problem when i gather enough funds to buy a fridge to preserve them.
My Business
In my business i sell fruits such as oranges, tomatoes, onions, bananas and sugarcane. I find the business enjoyable and i really have a great interest at heart for intrepreneurship and i have this strong will that i will venture in my business. Whenever it is a market day, am sure of making good profits from my products. I save an amount of Ksh. 150 after every two days and i know with more products i will make more profits and save. My customers like me because am friendly to them and i treat them as if they are my family and they love my products since i keep them fresh to the best of my ability. My business is located where we are a few sellers so the business has got no stiff competion hence an added advantage in profit making. I chose this particular business to make buyers reach their neds withoit much straining in walking to the market to buy the items. Ihave always wanted to be an entrepreneur and this made me to start a business. In a day i make profits of Ksh. 250 per day when all goes well. Ksh. 50 is taken from the profit to cater for tax. To add up to my stock i require Ksh. 5000 to buy items and cater for transport expenses too. I use my profits in providing home requirements like food, clothing and i also pay fees of Ksh. 1000 each for my two kids who are in the lower school.
Loan Proposal
I intend to use the loan to add up to my stock. Once i get enough stock am sure i will increase my profits from the huge sales i would have made. I also plan to use a sum of Ksh. 2000 to build a small temporal area of sale to prevent sunlight from perishing the fruits. I will also use a sum of Ksh. 2000 to process and acquire a business licence. Once my loan is funded and disbursed to me, i will immediately accept it and make use of it appropriately. I will use the first profit i earn in repaying my first loan installment.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jun 2, 2015
Repayment status
Late
Projected term
23 months
Lenders
Australia
Germany
Jake Gibson and Beverly Picardo
San Francisco, United States
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