Increasing my stock of kerosene for sales business

Erasmus Ouma

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Erasmus Ouma

Member since

December 2014

On-time repayments

32 installments  •  81%

About Me

I grew up in Musoma Village in Busia County Western –Kenya.I went to the village primary school before proceeding to a high in the same county of Busia.I joined Kenya Poly in 1992 to September 1995 for Business Administration course, I then joined Trade Winds Aviation Services and worked as a clerk for 17 years before I ventured into business. I started Kerosene business in 2012 and learning that close to 70 % of the people leaving in Kayole where I leave were using the product as their form of energy, the venture had ready market. I would walk on foot going to and from college a distance of 12 kilometres for three years to attend classes.

My Business

I sell Kerosene to the people living in Kayole,the area has a population of almost 200,000 people and 70 percent of the households use Kerosene for cooking and their only form of energy. The product is ever on demand because people eat daily with the consumption increasing when schools are closed and all children are the house, they have to eat breakfast, lunch, evening tea for some families and supper in the evening.
My business has grown and I am currently selling Kerosene to retailers in 200 litre drums which I buy @ $ 112 and sell @ $ 143 making a profit of $ 22 per drum sold besides the 1 litre and even 1/2 litre I sell to customers from poor background
1- litre of Kerosene cost $ 0.56 and when sold @ $ 0.67 making a profit of $ 0.11 per litre as well. The consumption is averagely 200 litres per day but with selling of drums ,it is likely to rise.

Loan Proposal

The loan will be used to purchase more litre s of Kerosene now that the prices have drastically reduced cost $ 0.56 and when sold, will be close to $ 0.67.The loan will be enough to purchase around 170 litres. The consumption is averagely 170 litres per day, meaning we will be buying and selling the Kerosene on a daily basis bringing a profit of around $18.7 daily .The profits will be used to purchase more Kerosene to help serve the ever increasing demand.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$132.44

Date disbursed

Mar 2, 2015

Repayment status

On Time

Projected term

8 weeks

Cost to entrepreneur

Service fee: $0.86

Lenders

Paul Buchheit

Mountain View, United States

TM

Theo Mbise

Switzerland

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  • Erasmus Ouma    Jul 5, 2022

    I will buy kerosene fuel for resale.
    The money will help me in expanding the business and improving the stocks. Thanks for considering my applications.

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  • Ruth James    Jun 24, 2022

    Hi Erasmus. I wish you in your endeavour

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  • Doug Henderson    Jun 22, 2022

    Erasmus
    Good luck with the kerosine. Sounds like there is a good market for it, so glad you are expanding in that area.

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  • Erasmus Ouma    Mar 27, 2021

    Before I took that loan,I was using manual machine for dispensing of fuel. After getting a loan and making profits now I use digital one which I bought from the profit I got from that loan.

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  • Erasmus Ouma    Aug 21, 2015

    Dear lenders I thank you for supporting my business,I couldnot be where I am if not for your support.

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  • Elijah Rubia    Jul 14, 2015

    Wonderful Erastus,

    Glad you were funded and so happy you are repaying well.

    Wish you well in your business.

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  • Erasmus Ouma    Jun 19, 2015

    Thank you friends for making it happen,I am so happy to receive my loan and as usual I will not let my lenders down.

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  • Erasmus Ouma    Jun 18, 2015

    Hi lenders we have three days to go ,kindly make it happen before it expires again.

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  • Erasmus Ouma    Jun 16, 2015

    Thank you hope for increasing ,guys make it happen

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  • Erasmus Ouma    Jun 16, 2015

    Thank you lenders for making it 21% that first,invite friends to make it happen.

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  • Miles Dodge    Jun 15, 2015

    Hello Erasmus, I think you have a promising business, keep your head up!

    Thank your friend Charles; he mentioned your loan to me.

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    • Erasmus Ouma    Jun 16, 2015

      Thank you miles ,charles is a great friend e does a noble work in our community and I support him.Thanks again for funding me.

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    • Hope2012    Jun 16, 2015

      Me too, charles sent me here, all the best

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  • Erasmus Ouma    May 22, 2015

    Dear lenders kindly assist me get my loan ,I have never let you down and will never let you down

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  • Erasmus Ouma    May 11, 2015

    I am happy to have completed my first two loans and hope my lenders will not let me down.The two loans loans have increased my incomes and I have to improve more and more.

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  • Erasmus Ouma    Feb 28, 2015

    Thank guys for funding my loan I will be able to increase my stock immediately ,be blessed.

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  • Erasmus Ouma    Jan 4, 2015

    Thank you guys for funding my loan that first,I will keep you updated.

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  • Erasmus Ouma    Jan 3, 2015

    Dear friends I am asking for your support on this project as soon as possible.

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