Inventory of raw materials for my growing herbal shop
Stephen
Mombasa, Kenya
6% repaid
Entrepreneur
Name
Stephen
Member since
January 2015
On-time repayments
57 installments • 39%
About Me
My name is Stephen Muya but most people call me 'Doctor'. I am not a medical doctor but a herbal practitioner and the the local community, the two professions are one and the same thing. I was born in Nakuru in the Kenya's Rift Valley region in a large family of 12 where I am the 6th born.
The big family meant that I had to start struggling for almost everything from an early age. I managed to go to school and moved out of the family house once I became an adult. I landed in Mombasa where I worked as a herbal medicine salesman where I worked for my brother who was operating this business. I managed to undergo training while doing this job.
My brother later sold the business to me to pursue other investments plans and I have been running this business for the last 7 years.
I am trained as a herbal practitioner and I also do research on herbs and their efficacy in treating various diseases.
My Business
I sell herbal medicine used for controlling many diseases and conditions. I buy the raw materials from stores which get them locally or import from neighboring countries and India. The most common raw materials are Eucalyptus, cloves, nettles, aloe vera etc. I extract the medicine from this materials and package the end product in syrup or crystal form.
My customers are people of all races, religion, lower and middle class especially those who are averse to using conventional medicine. The medicines are used to treat conditions such as diabetes, malaria, common colds and STIs.
This business has a turnover of about $700 per month but the expenses gobble up half of this. I use the balance to pay my bills and send some money to my aging parents back home.
Loan Proposal
My business has grown exponentially for the last few years. While this is a good thing, the growth has come with it's challenges. I can now reach people in far flung areas and this I do with the help of a few sales people that I have employed in my business. For the business to be viable, I need to increase my sales volumes to cater for the transport cost and the wages of my workers.
If I get this loan, I hope to increase my production of the herbal products by about 40% and the sales volumes will increase proportionally. I am also hoping to hire an extra salesperson to be paid on commission since more marketing and sensitization of the public is very important in this business.
I call upon lenders to support me once more as I continue with my journey of ensuring that we make a world a better place by providing affordable and effective health products. Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$187.00
Date disbursed
Jun 24, 2015
Repayment status
Late
Projected term
8 months
Other loans
Lenders
United States
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