Increase stock for my cereals shop

Tabitha Awuor Owino

Eldoret Shauri Yako, Kenya

65% repaid

Entrepreneur

Name

Tabitha Awuor Owino

Member since

February 2015

On-time repayments

20 installments  •  50%

About Me

I am a single mother aged 28 years am the sole bread winner of my family of one son who is in class eight this year. I have an O'level education background and apart from this i also poses a diploma certificate in control of HIV and AIDS management. I was employed as a receptionist in one of the hotels in Eldoret town for four years. During this period i experienced numerous problems both financially and socially. This was because the salary was little and could not make meet the needs of my family and even my own needs, thus made me to quit my job and this also prompted me to think of starting a small business but still this came with its own economic and social challenges.
I come from Nyanza in western part of Kenya, currently i live and work in Uasin Gishu county, Eldoret west district. I have been here for the last six years. Apart from business I like travelling and socializing.

My Business

I have been operating a cereal shop for the last one and half years. I started these type of business because of ever increasing demand of maize, beans, sorghum, millet, green grams, rice and many others. Eldoret has a very high population which gives me a very good demand. I chose the products due to its great availability and demand you cannot miss to make a sale. Competition is minimal and the existing competitors i have an advantage over them. I buy my cereals during harvesting when the price is very low, dry them properly to maintain high quality and treat them with pesticides to avoid piercing by weevils. I sell my products at a very friendly price which keeps on attracting more and more customers. My business does not face any risks because this products are the staple food for the community.

Expenditure:
My monthly expenditure is 250 Us $ while the average gross profit is 420 Us $
The following is a break of how i use my profit:
10% I give tithe to the Lord.
70% upkeep i.e. food and house rent
5% Savings.
15% I support my Siblings.

Loan Proposal

Thank you lenders for giving me an opportunity to get the credit from you. Given funding, I will use all the 100 us dollars loan wisely especially to expand my business by buying stock of maize which is currently at low price of which I will sell it later at a high price approximately 150% increase in two months time. Meanwhile i will repay my loan from my sales. Thank you for the consideration

Feedback

None

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.38

Date disbursed

Feb 25, 2015

Repayment status

Late

Projected term

4 months

Cost to entrepreneur

Lender interest: $100.38 at 0.70% annual rate over 4 months = $0.28

Service fee: $1.49

Lenders

johnfay

Lusaka, Zambia, South Africa

N

nitram

Stockholm, Sweden

P

Philippe

Adliswil, Switzerland

S

SeeBiscuit

Reston, United States

José Antonio

Carapicuíba, Brazil

O

Oliver

Geneva, Switzerland

T

Tallago3

Munich, Germany

Zidisha

Sterling, United States

B

briansedz

Canton, Ohio, United States

Jouni

Finland

J

jeremy

Chicago, United States

ads68

Melbourne, Australia

I

ivanill

Lansing, United States

JTShorty

Gorham, Maine, United States

H

Harmony

Cleveland, United States

S

SnifferTheBunny

Brighton, United Kingdom

E

elkocsis

Kirkland, United States

robinbuxton

Rugby, United Kingdom

C

chrishol

United States

geotrog

Sydney, Australia

mepster

San Francisco, Ca, United States

VK

Vasily Kudrin

Moscow, Russia

J

JonAlec

United States

Grant Xavier Storer

Seattle, Wa, United States

N

nedenchase

United States

S

samuelknecht

United States

S

smanda

United States

M

michael0921

Fairmont, United States

S

StefanB

Stockholm, Sweden

R

rokbe

Netherlands

F

Foster

United Kingdom

B

bwmoore

United States

E

ErinL

United States

Kallwejt

Warsaw, Poland

R

rchissom

United States

J

Jack123

United States

KM

Kirsty M

United Kingdom

PH

Phil H

United States

Shen Ge

Houston, United States

Roy

Espoo, Finland

MD

Mikey DiLalo

United States

M

Maggie

Australia

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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