Loan to expand my cereals business

Ibrahim Okuro

Kisumu, Kenya

19% repaid

Entrepreneur

Name

Ibrahim Okuro

Member since

December 2014

On-time repayments

242 installments  •  15%

About Me

My names are Ibrahim Otieno Okuro.Kenyan by birth and currently residing in Mbeme Estate in Kisumu City.
I am a trained Accounts Technician with CPA part two. I am a born again Christian and holds Godliness and Integrity as my core values both in business and in life.
On family matters, am married to one wife with two children Esther Adoyo (4) and Ephraim Mor (2) and also a guardian of two children; Brian Hope (13) and Teresa Anyango (8).
I worked in a supermarket for two years then joined another organisation for five years but because the work was contract based, it came to an end and then after searching for jobs without getting any, I decided to venture into business of selling groceries and grains in the Estate where i live here in Kisumu. Ogango upto August 2014.But due to small margin i was getting which could not allow me to pay the rent, I decided to move to Mbeme Estate where am still running the business and hope to get more funds and increase the Quantity and the stock variety that I sell.

The reason that prompted me to start a grocery and cereals business was to enable first to earn a living and get the best way of supporting my family, secondly was to attend to constant food shortage which was a consistent problem in the area with most traders changing very high prices.But with mine, having the fact that i get the stock from other counties, i was and have always been able to sell these to consumers at affordable rates thereby helping to alleviate hunger in our area here in mbeme.Note that Kisumu City and county as a whole is an importing county.It imports food products from other counties such as kisii, Migori, Homa Bay, Nandi just to mension but a few.
As a young entrepreneur, I have avision of establishing a dynamic and successful businesses in my county as well as other counties within the Nation Kenya and other parts of Eastern Africa.This will also enable me to teach other people on how to make it in business.

My Business

My business name is PUR BER KELO BER EMPORIUM.It deals in food products, that is Groceries and grains which i sell to people in the estate.The reason as to why I ventured into this business as i mension above was to have a source of income, make food products- cereals and groceries available at affordable rates and support the weak that cant afford such products at all.
Through my humble financial input to this business and by the fact that i buy these stocks direct from farmers in other counties, where maize, beans, green grams and other groceries are plenty, i have been able to make these products available to the estate populace at affordable prises.For example, I have been getting maize from kitale at USD 0.33 per two kg and sell it at USD 0.65 when other traders sell the same at USD 0.82.
In addition to cereals and groceries, I also make ventilation concrete product which i sell to the local hardware shops at Whole prices and make a 50% profit return.For example I do make Ventilation concrete products - I use one bag of cement which costs me kshs.730 ($ 8.39) which produces one hundred pcs which when i sell each @ kshs.35 ($0.402) I make more than kshs.2000 ( $0.22.988850) of profit.But the product is not a fast moving product so its only done twice a fortnight.
I appreciate zidisha loans since it will boost my business in terms of stock and hence meet the rising demands from my customers.The first Zidisha loan helped me to stabilize my business, introduce more products and also take my children to school.

Loan Proposal

Dear esteemed lenders and zidisha team, Thank you for giving me the opportunity to serve as volunteer mentor for zidisha community.I appreciate the cooperation from my assigned members so far.
Again I wish to thank you for my previus loan which enabled me to buy more stock and stabilize my business, pay school fee for my children and support my family.As a result of that loan my sales went up by 30% and the applied with the profits.
Enough stock has always been the main challenge .
I granted this loan, I intend to use it as follows
1) Purchase 12bags of assorted Cereals = USD 550
2)Purchase other food retails products = USD 300
3)Purchase laptop for business =USD 200
4) Use the balance for transporting the stock and for the business float
This will increase my profit margin by approximately 50% and enable me to employ one person to help me in the business.
I call for Zidisha lenders to sacrifice and fund my business and promise not fail in arrears and based on my past record of 100% on time repayment, you will be persuaded to offer me the required amount.

Thanks in advance.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,053.46

Date disbursed

Mar 11, 2015

Repayment status

Late

Projected term

80 months

Cost to entrepreneur

Service fee: $39.80

Other loans

Lenders

AWOL

USA, United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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