Purchasing corn and beans from farmers for retail
Joseph
Mombasa, Kenya
100% repaid
Entrepreneur
Name
Joseph
Member since
July 2014
On-time repayments
106 installments • 77%
About Me
My name is Joseph Mutie. I am married with three kids aged 19, 4 and 2.
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My Business
As stated above, I run multiple business ventures. This is made possible by the assistance I get from my wife and two workers who carry out most of the day to day activities.
I started this business since I have an advantage in that I buy cereals from my hometown where I am well known by the producers. This gives me a competitive edge since I am able to buy at relatively low prices and this increases my profitability.
Apart from my salary, I make an net income of about $300 per month from my business.
Loan Proposal
As stated above, I run multiple business ventures. If funded, I would like to inject these funds to my retail shop. I intend to buy cereals during the harvest season which is around the corner. I will be able to purchase the produce at a low price and then sell them at a profit later on. The $150 loan will be spent to buy corn and beans as shown below.
90kg of corn $60
60kg of beans $82
The above are the staple food of the local community and I am sure I will make a tidy profit from this venture. I have a long experience in this business and therefore I will be able to make repayment without any problem
Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Jul 26, 2014
Repayment status
On Time
Projected term
8 months
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