206 installments • 3%
I am a 23 year old female Kenyan citizen. I hold a Diploma in Customer Service and Business Administration.
I am the first born in a family of two girls.
I live with my younger sister in Buru Buru Phase 1, which is my own home. My sister is in the University of Nairobi pursuing a degree in Business Administration.
I started my own business after clearing my education. Since we had shops, it was easy for me and I just took one and stocked it with a loan from my parents which I'm proud to have fully repaid successfully and now on my own in the business.
My profile picture shows my business.
I deal with basic households which range from food stuff, cutlery, snacks.
I have employed two employees on contract basis which lasts for a year, then I renew it depending on one's performance.
Nancy's shop is located in Nairobi's Buru Buru area in Phase 1. Having started its operations in December 2012, I deal with basic household goods which include food stuff like cooking oil, tissue papers, sodas, sugar, snacks, cutlery, maize and wheat flour, among others.
There is demand for my goods since I stock high quality products at a cheap and affordable price. To top to that, my employees and I always ensure we meet our customers needs not just through sales but offering a personalized touch in our business. This has worked to our advantage ensuring that we are at the top of our competitors.
The business is profitable in that we always get to achieve our goals, sustain our lives comfortably, pay bills and education and most importantly sustain the business itself and its growth is steady since consumer products move fast and consistently.
I make a good earning out of the business since through it I have managed to cater for my sister's education and mine as well without affecting the business at all.
I will use my second loan in the following criteria to purchase fast moving stock that will add more sales and consequently profit to my shop. The commodities will be bought from New Ventures Wholesalers just near OTC bus station in Nairobi.
The detailed budget is as follows:
Ksh. 5600 (approximately $ 62.9702 to purchase 2 bales of maize flour which contains 48 packets. I will sell each packet at Ksh. 145 (approx. $ 1.63048). Normally, within a week the bales get sold out.
Ksh. 6000 (approximately $ 67.4680) to purchase a 50kg bag of sugar. I will then pack the sugar in packets ranging from 0.5kg to 1kg. A kilogram will go for Ksh. 150 (approx. $ 1.68670) , hence a Ksh. 30 (approx. $ 0.33734) per kilogram profit. A bag of sugar usually stays in the shop for 2 weeks before it gets sold out.
Ksh. 3600 (approximately $40.4808) will be used to purchase 120 packets of milk from my local dairy. I will resell the milk packets each at Ksh. 45(approx. $ 0.50601). I will store them in my refrigerator to keep them at optimum quality. The packets are sold out within three days.
Ksh. 5000 (approximately $. 56.2234) will be used to purchase a 50 kilogram bag of high quality rice known here in Kenya as “pishori”. I will later on pack the rice in packets of 0.5 to 1 kilogram. A k.g will go for Ksh. 135 (approx. $ 1.51803), hence a profit of Ksh. 35 (approx.$ 0.39356) per Kilogram.
Ksh. 10,000 (approximately $. 112.447) will be used to purchase liquid cooking oil that is cholesterol free. I will mix the various types available in the market ranging from Elianto, Sunrise, Pure Fry. These cooking oils have been on market demand especially after more awareness was created about cholesterol and how dangerous it can be to one’s health.
Ksh. 2000 (approximately $. 22.4893) will be used to purchase 4 crates of 300 millimeters of soda, each crate going for Ksh. 500 (approx. 5.62234) . I will hence be in a position to restock my soda fridge which I was given by Coca Cola to be able to increase my sales through offering what most of my soda customers like, an ice cold soda. Each crate of soda has 24 sodas and I will sell each soda at Ksh. 35 (approx. 0.39356).
Ksh. 2500 ($28.1117) will be used to purchase loaves of bread and assorted cakes and biscuits. This is especially for the students from Buru Buru primary school who also form a very important part of my customer base.
Ksh. 2000 (approximately $22.4893) will be used to purchase stationery e.g exercise books, pens, pencils, rubber (eraser), These are normally used by the students from Buru Buru Primary School.
Ksh. 2000 (approximately $. 22.4893) will be used to purchase 20 umbrellas. Each umbrella will go for Ksh. 150. (approx. $1.68670) The sporadic rainfalls have caused havoc and umbrellas have proved to be of great importance in the past few days, owing even to the fact that I sold all of them I had in stock.
Ksh. 700 (approximately $7.87127) will be used for transport as it will be early in the morning and I will be moving against traffic.
The total budget is Ksh. 39,400 which is approximately $443.040.
I have fully explained it even in dollars so that I could create a clear picture on the budget in your currency or currency that you are more familiar with.
Kindly accept my loan proposal and fund my loan request.
I will honor my word as I have always done and immediately keep you updated once I purchase the stock. Thanks in advance.
Jun 24, 2014
Cost to entrepreneur
Lender interest: $445.28 at 9.20% annual rate over 46 months = $157.56
Service fee: $61.16