Entrepreneur
Name
Patrick
Member since
September 2017
On-time repayments
34 installments • 47%
About Me
My name is Patrick onyango. I was born 1996 in kisumu, Kenya. I was brought to nakuru in 2006 to live with my uncle who was a great business man. I used to go to school and on weekends I work in my uncle's shop. I there for grow a great interest in Business. After I finished my secondary education I joined egerton university where I pursued a degree In business management. I worked with private company for one year where I was able to save money from the salary which I was paid on a monthly basis. On the January 2018 I had a total of 75,000Ksh with which I was in good position financially to start a small business venture. My business of choice was maize Selling. I purchased poshomill which costed 60000. I used the remaining 15000 to buy inventory and the set up of the business.
My Business
My business involves buying maize from farmers and wholesalers and then I sell it to the consumers in the urban area of nakuru where my business is located. I sell it in three forms because of different customer preferences. I sell it as unprocessed maize for customers who go to stock it in their homes, secondly as maize flour where I process it using my poshomill and lastly as an improved maize flour commonly called number one. It is relatively a profitable
business in Kenya because it has got a steady supply and also ready market . As any business I face a lot of challanges. First, stiff competition from well developed maize millers. Second, inadequate capital to purchase more stock for my business.
Loan Proposal
I will use the loan to purchase more stock for my business. this will lead to an increase in sales hence increase in profit margin which I will use to pay the loan
Income Source
My business is fast food and grocery. The coronavirus has not affected it businesswise because what I sale is basic food and fruits. Given the loan I will purchase more stock which the market is already available at the moment.
Feedback
Positive
1
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$10.00
Date disbursed
Jul 10, 2020
Repayment status
On Time
Projected term
1 week
Other loans
Lenders
Australia
Ask Patrick a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
Helen Horseman Oct 17, 2017
Loading...