312 installments • 87%
-I am a Married woman aged 53 I am the bread winner in my family
-I went to school up to primary level.
-One day I tried to start a business of selling paraffin but due to the high interest that the bank needed the business collapsed,I was supposed to pay the loan monthly but after taking the loan they changed to weekly which made me strain a lot to service.
-I started knitting when my business collapsed because I still needed to support my family and husband I started by knitting to my friends who after displaying my products in there Homes I got new customers which made the number to increase that’s how my business has been expanding.In Eldoret the population is so high and this is a good environment for my Business to grow.
I come from Kiambu and married to my Husband Who comes From Siaya I have been living in Eldoret for the past 30 yrs.
-I buy knitting threads from Eldoret town a role cost 1 $ each 1 set takes about 32 roles of thread which cost about 3200 /=(36 Us dolars) Kenyan shillings it varies with pattern in one month I can make 4 sates Which gives a nett profit of 5400/= (62 US Dollars)profit while my monthly expense are approximately 18200/=(209 US dollars)
The following is how I use my profit
10% give tithe to the Church
75% upkeep and food
10% support my grand Children
If my loan is fully funded, I will use the amount to buy threads at the cost of US$ 45 and use the rest to hire somebody to help me in the work. This is because the work is expanding with the demand for the table clothes in our city coupled with the information the people are getting. The cost of hiring the extra person will be US$10 and this will be supplemented using the interest accrued from the business.
As, I have stated above, I will employ an extra person and also have more stock for the customers. It means the customers will be able to the wears nearby hence saving on time they would have spent searching for the wears.
I expect my interest to increase to US$100. This will ease my burden of caring for the family and improve further my living standard.
Thanks in advance for your kind consideration.
Nov 30, 2016
Cost to entrepreneur
Service fee: $22.14