Inventory of fast moving goods for retail shop

Benard Langat

Kericho, Kenya

12% repaid

Entrepreneur

Name

Benard Langat

Member since

December 2014

On-time repayments

122 installments  •  7%

About Me

My name is Benard Langat, now 31 years old and living with my family in Kapsoit village. I am married with two sons. I grew up in Kericho county where I attended both primary and secondary schools. I later went to Kabete Technical Institute to pursue a diploma course in animal health.
Since I graduated last year, I have been offering contracted services on animal health locally.
As a junior in the profession, It has been a challenge since my client base is still low. To supplement my income, I recently opened a retail shop at Kaspoit shopping centre and is currently managed by my wife.

My Business

I opened a retail shop in April this year in order to supplement my low income and has been a success so far. We mainly sell fast moving domestic goods such as maize flour, sugar, rice, cooking oil, baking flour and detergents.
The shop is currently managed by my wife and has assisted in sustaining us.
I currently plan to improve stock especially on products targeted on the upcoming festivities in our area such as baking flour and rice

Loan Proposal

During this festive period the demand for products such as rice and baking flour is high in Kenya and especially in our rural home. To counter this demand I would like to restock my shop emphasizing on these goods and other fast moving goods.
I therefore plan to use the $100 in buying new products in bulk quantities to reduce costs and improve profits.
I will in turn save the extra profits together with my earnings from job as I plan to send my wife back to school as from mid next year.

Feedback

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.18

Date disbursed

Dec 28, 2014

Repayment status

Late

Projected term

28 months

Cost to entrepreneur

Lender interest: $100.18 at 9.15% annual rate over 28 months = $21.68

Service fee: $8.76

Lenders

Daniel

Hamburg, Germany

investor

Candiac, Canada

cyrus0302

San Francisco, United States

McJulio

New Jersey, United States

dmirpuri

Bangkok, Thailand

T

thebonseung

Republic of Korea

H

hixeu

Belgium

P

Prometheus

Duisburg, Germany

KM

Kirsty M

United Kingdom

Cathy

Melbourne, Australia

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