Tabitha Awuor Owino
20 installments • 50%
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.
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.
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
15% I support my Siblings.
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
Feb 25, 2015
Cost to entrepreneur
Lender interest: $100.38 at 0.70% annual rate over 4 months = $0.28
Service fee: $1.49