Loan to buy a bicycle and crate for supplying doughnuts

Entrepreneur

About Me

I am the first born in a poligamous family of seven children, currently a final year student pursuing bachelor of economics and finance at Kenyatta University. I lost both of my parents to HIV/AIDS while I was in primary school.The fact that parent died of HIV/AIDs really caused me a lot of stigmatisation as fellow pupils did not want to associate with me but I never let that deter my pursuit for education.
After thorough analysis of the market I realised that majority of the said market could hardly afford a loaf of bread and hence the need of a cheaper alternative. I then did a market research and tested the products to determine their acceptance, my land and culture is unique and is known for its wide spread HIV/AIDs cases.
During my free time I usually visit orphanages for voluntary services and motivational talks.

My Business

I make and sell baked products especially the homemade doughnut.My products are unique in tastes and are also preferred for their freshness and natural nature since I use no preservative.

I chose this business upon studying the market factors.I also wanted to salvage my target group( majority of whom are students) from the escalating prices of loaves of breads.

My typical costs entail the cost of inputs and other miscellaneous expenses totaling up to about 100 US dollars per day as my working capital generating a daily revenue of about 140 US dollars.

I save 15% of my profit and plough back the rest into the business for growth.

Loan Proposal

The loan applied for will be used to purchase the following:
a bicycle @ 85 US Dollars
supply crate @20 US dollars

Bicycle will help me reach a wider market. I envisage that this will lead to increase in sales revenue and consequently a growth in profit by more than 10 percent. It is true that a good product advertises itself.The information on these products are spreading at an alarming rates and so many shop vendors are calling up for orders but since I supply on foot am still not able to reach this market and enhance my market share.
Should I get this loan, the increased profit will also enable me increase financial support to my aged grandma taking care of my siblings.

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