Inventory of sugar,rice, cooking oil&home supplies

Nancy

Buru Buru Phase 1 (nairobi), Kenya

Funds disbursed

$0 to go

100% funded of $444 goal

0

days left

Entrepreneur

Name

Nancy

Member since

April 2014

On-time repayments

206 installments  •  3%

About Me

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.

My Business

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.

Loan Proposal

Dear Lenders,
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.

Nancy

Feedback

None

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$444.00

Date disbursed

Jun 24, 2014

Repayment status

Late

Projected term

46 months

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Matching Fund

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  • Steve    Mar 3, 2015

    Any updates here?

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  • Paul    Dec 3, 2014

    Dear Lenders,
    Nancy will repay his loan next week. She has given me her word about it and actually she even promised that by February, she will have repaid the loan more than half, this is so as to mend her reputation.
    I will look to it closely from now.
    Paul
    VM

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    • Hope2012    Jan 20, 2015

      Still nothing, and with no reason.
      This is pretty disappointing :(
      Any updates Paul? X

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  • Steve    Oct 2, 2014

    Hi Nancy, do you plan on repaying this loan? Please be honest with us so we can adjust our expectations if needed.

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  • pentatonicscale    Sep 22, 2014

    Hi Nancy,
    I see Paul Kamande says you will have paid by Sept. 5, and it is now Sept. 22. Could you please let us know what is happening? Thanks.

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  • Paul    Sep 3, 2014

    Dear Lenders,
    I have talked to Nancy and yes, by 5th September she will send in Ksh. 2000 to cover for her previous month and this month. It's two days to then, Kenyan time, I will update you once she sends in the repayment.
    I have also advised her to let you know personally of the same.


    Best,
    Paul Kamande

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  • Paul    Aug 29, 2014

    Dear Lenders,
    I am the VM of Miss Nancy and I have met her today. She will send in Ksh. 2000 to cater for this and next months repayment.
    She plans to also rechedule to appropriate less time in her loan repayment as soon as Zidisha will update her profile once she repays the two installments latest by 5th September. I will keep a keen eye on this and update you on 5th Sep 2014 Kenyan time on her status.
    Thanks.

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  • Samuel    Aug 28, 2014

    I phoned Nancy today 1.48 pm . She is unavailable & so are most of her listed relatives, VM, Inviter, Community leader.

    Thank you for your patience.

    A concerned VM.

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  • Samuel    Aug 27, 2014

    Hi Nancy,

    I'm a Kenyan borrower. I see that you've rescheduled your loan for some years ahead.

    I kindly wish you restructure your loan repayments to fit in a reasonable duration.

    Your actions here will send a wrong message that Kenyan borrowers are avoiding repaying loans cleverly. Consequently, yourself & many of us will eventually have a hard time fundraising loans in the near future.

    Therefore for your own sake & that of many, please reconsider your repayments schedule.

    I'll be personally in touch with you in good time.

    A concerned VM.

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  • Steve    Aug 12, 2014

    Hi Nancy,

    How are things going with your business? I hope well.

    I haven't received a repayment from you yet. Any signs of one soon?

    Regards,

    Steve

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  • Steve    Jul 11, 2014

    Thanks, Nancy! I was glad to see this update. The rescheduling of your loan repayments concerns me as it extends to 2018. Could we shorten that up?

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    • Nancy    Jul 22, 2014

      Hi Steve,
      Sorry for delay.
      Indeed I will shorten it once Zidisha updates the repayment I will send in of Ksh. 1000 over the weekend. Then I will reschedule it to the normal short time as agreed before or even a shorter period.
      Thanks

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  • Nancy    Jul 11, 2014

    Dear Lenders,
    Here are the commodities I purchased today as my store keeper arranges them on the shelves.
    I hope that my customers return and we continue to be one again as a family, as Kenyans as fight this menace called negative ethnicity that almost ruined our beloved country.
    Thanks.

    Nancy

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    • KirstenShute    Jul 13, 2014

      Looks good! I hope your store continues to do well, and that there are no more technical problems with the banks. Thank you for your update and I wish you a great week,
      Kirsten

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      • Nancy    Jul 22, 2014

        Hi Kirsten,
        Thanks alot. I have actually taken more precautionary measures to avoid that in the future.
        I look to a more brighter future ahead.
        Thanks

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  • Nancy    Jul 11, 2014

    Dear Lenders,
    I have opted to reschedule my loan. I have just purchased my outlined products in the proposal as here in Kenya, there was political tension in Kenya especially the capital because of 7th July commonly referred to as Saba Saba - a day when multi party democracy was fought for in the 1990's.
    This led to many businesses being closed and people travelling to upcountry in fear of tribal clashes. Here's a report on that:
    m.news24.com/kenya/National...
    I have today bought the materials and hopefully business returns to normal this weekend as people come back to their normal business after the Government contained the situation.
    Here's a report on that too:
    www.the-star.co.ke/news/art...

    Kindly accept my sincere request.

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  • Steve    Jul 11, 2014

    Hey Nancy,

    How's your progress coming along?

    Hope you're well!

    -Steve

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    • Nancy    Jul 11, 2014

      Hi Steve,
      I am doing fine.
      Kindly see the images I am to post for the commodities I have purchased today and the report.
      Nancy

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  • Nancy    Jun 17, 2014

    Dear Lendes,
    It's 9 days remaining prior the loan funding period expires.
    I kindly urge you to support my loan request and enable me take care of my community's well being in terms of house hold supplies, which we all require, food and clothing being part of the basic needs.
    I hope you will enable me reach 100% fund. I trust and believe so.
    Thank you all.

    Nancy

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  • Nancy    Jun 15, 2014

    Dear Lenders,
    Thanks for your continued support.
    It's 12 days remaining for funding.
    Today's highlight in my business is when two small children at the age of 6 came to my shop with their parents. They cried so that their parents can buy them bites and even refused to go home if their parents didn't buy. The fun part was that when they came from home, they were given the bites (snacks) but refused to eat.
    It's just funny how children can be. I just gave them as a gift since the parents are my good customers.
    At times in business, a personal touch is important especially to what matters most - Family, that's why I stock my shop with commodities required all round in the family ranging from children below six years to adults - that way, there's business continuity. I ensure that my customers find virtually all household goods. This has enabled me stay on top of my competitors in Buru Buru

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  • tash90    Jun 14, 2014

    Nancy, its good to see you give such a detailed budget on how you will use your funds. You seem to understand your business well.
    I wish you all the best.Paul

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  • Nancy    Jun 14, 2014

    Thank you dear lenders for what you have done for me so far by placing your loan bids on my proposal.
    I hope I will be fully funded and bit the bid expiry date which is fast approaching.
    Thanks

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  • Nancy    Jun 12, 2014

    Dear Lenders,
    Here's my second loan application. I look forward to actively engage with you as I grow my business.
    Thanks and kindly accept my loan request.

    Regards,
    Nancy

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  • Nancy    Jun 9, 2014

    Dear Lenders,
    I have fully repaid my first loan, awaiting Zidisha to update my profile.
    I kindly request you to assist me in my second loan which I will seek to purchase fast moving goods, hence a faster return.
    I highly welcome your questions and suggestions about the same.
    Thanks.

    Regards,
    Nancy

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  • Nancy    Jun 6, 2014

    Dear Lenders,
    Today it has rained cats and dogs here in Nairobi and got lucky in time and sold some umbrellas and I choose to share my joy with you through repayment.
    The rains started early morning and up to now, its still raining. Despite the weather making less sales in the shop, compensation was through the sale for 24 umbrellas!
    Also, I am constantly engaging with my VM to ensure that I understand more and better about Zidisha.
    Thanks

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