Patrick Nalika

Nairobi, Kenya

Funds disbursed

$0 to go

100% funded of $1,012 goal

0

days left

Entrepreneur

Name

Patrick Nalika

Member since

August 2012

On-time repayments

15 installments  •  7%

About Me

I am a young Kenyan business man, the last born in a family of two. I live in Blue Lane Flats, House No. 10 A, 1ST Floor, Sironik Road, Ongata Rongai, an urban county approximately 20 km from Nairobi, Kenya’s capital city. I founded my business, back in 2010, under the business name of ‘Bahati Butchery’. This was after working at my father’s butchery and gaining some essential skills needed in the business, before venturing out on my own later in the same year. My butchery is currently valued at approximately KES. 270, 000, whose earning are basically used to pay for its typical monthly expenses, to replenish my stock, to expand its operation and for my personal upkeep as it proprietor, in terms of household expenses and savings.

My Business

My business is an average sized butcher shop, serving the highest quality meats, in Rongai area and the surrounding regions. Located at Church Road, Off Magadi road, I have owned and run ‘Bahati Butchery’ since 2010, which sells a wide menu of meats, ranging from raw and roast beef, free-range poultry, turkey, T-bone steak, fresh pork, domestic fishes, sheep and goats meat, to customers including medium income residents of Rongai market and neighboring town as outside caterers. Apart from the high income customers from neighboring town of Kiseria, who make repeat purchase due to our exceptional customer care services, we also serve high-end corporate and private events. Meat and poultry industry is like the second largest market in this area, and this is due to the high consumption levels from local residents. This has helped my butcher establish a competitive advantage through my expertise in the industry, being an experienced butcher with three years expertise in meat business and my existing relationships with the best suppliers of meat as well as understanding the craft of butchering. Our meat is sourced from suppliers within 100 km radius of the butcher to maintain its freshness. This freshness is maintained by preserving our meat in optimal conditions while in store. My butcher’s monthly sales revenues are approximately KES 80, 000, (exclusive of monthly costs like expenses, labor and rent of the premises which is approximately KES 55, 000) thus leaving me with a net profit of nearly KES 25, 000, This profit is put back into expanding the shop.

Loan Proposal

Hi dear lenders. Am happy to have cleared my first loan, which really helped my shop, especially in terms of exposing it to new business opportunities. By contributing to my second loan application, you will be improving my shop’s prospects of taking advantage of the festive season that is just around the corner. This amount will be spread as follows: KES 18, 000 will be used to upgrade my meat storage area in terms of expanding it so that it can accommodate more meat. In the same advancement, KES 10, 000 will be used to acquire an extra meat freezer for the above said reason. Then KES 22, 000 will go into my marketing and promotional efforts in terms of erecting a small ‘billboard’ by the roadside so as to direct more customers to my butcher shop and informing them of what I sell. Finally the last KES 34, 000 will be increase my stock that comprises mainly of beef, poultry, pork, fishes, sheep and goats meat so as to carter for the incoming customers that is expected to be generated by the said marketing efforts. Your support will greatly help my business in its growth plans and I will always be thankful for your help. Thank you in advance.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,007.93

Date disbursed

Nov 21, 2012

Repayment status

Late

Projected term

15 months

Cost to entrepreneur

Lender interest: $1,007.93 at 11.86% annual rate over 15 months = $152.08

Service fee: $64.12

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