I will use the funds to print fliers and brochures that i will give my customers and give handouts at target market cent...

Joseph Muna

Nakuru, Kenya

27% repaid

Entrepreneur

Name

Joseph Muna

Member since

June 2013

On-time repayments

18 installments  •  22%

About Me

My name is Joseph Muna Gachoka and a resident of Kenlands Estate that is two kilometers west of Nakuru town. l am married with one kid who is primary school l am a trained veterinary doctor and after graduating from the college way back in the year 1999 and with no ready jobs in the market l joined my mother in business who has a agro-vet business here in town.This enabled me to have a first hand experience in business and later started my own agro- vet shop so as to earn a living and develop myself economically.l use my income to provide for my family as well as re-invest back to the business.During my free time l engage myself in sports where l play football in a local club in the Estate as well as spending time with my family and friends.

My Business

My business is located along the Mburu Gichua street of Nakuru town.mostly l deal with the livestock products as well as all types of seedlings.This is because there is a ready market from the farmers around and within Nakuru.To minimise on expenses l buy my stock direct from the companies as they are cheaper instead of buying from the middle men.l sell the products at a profit margin of 20% which enables me to make ks 20,000 as net profit after deducting business expenses such as rent. Since there is lot of competition here in town l make sure that my prices are affordable to the customers and l always exercise customer care so as to maintain them.At times l do offer home delivery for my customers who are out of town and who buy large quantities for sale.if my application is successful l will use the loan to buy more stock so as to increase my sales and expand the business.

Loan Proposal

Thank you lenders once again for giving me a chance to access funds. With the funds that I receive, I intend to now aggressively market my business at target market centres with the aim of driving up sales. Customers are streaming to my shop and this gives me a lot of optimism and confidence that business will be good. We have started the year on a dry spell when livestock is infected by communicable diseases and so am in the front line putting farmers in the know to mitigate such occurrences. I remain very hard working so that I can put the funds in proper use and get more returns. Thank you.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$122.84

Date disbursed

Feb 11, 2014

Repayment status

Late

Projected term

2 months

Cost to entrepreneur

Lender interest: $122.84 at 6.67% annual rate over 2 months = $1.89

Service fee: $1.00

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