Loan to increase food stock for re-sale at a profit
Moses
Mbita Township, Kenya
51% repaid
Entrepreneur
Name
Moses
Member since
April 2015
On-time repayments
246 installments • 23%
About Me
My name is Moses Olooh, I am the 2nd born in a family of five. I have three sisters and one brother.
I started schooling in the early 80's, in a primary school known as Mbita Primary School in Mbita, Kenya. My parents were religious and peace loving people. They were staunch Christians affiliated to Catholics, besides religious activities, they were deeply involved in small-scale farming that helped them to get food for the family. I used to help my parents with farming and household chores. I successfully completed my High School and proceeded to College to study Business Administration in which I graduated with a Diploma in Business Administration.
After graduating from College in the year 2003, I started searching for a formal employment but I was not lucky enough to get employed, therefore having searched for a very long time, an idea of starting my own business came into my mind. I had several ideas of my business to be, and after a long time in assessing and eliminating ideas I narrowed down to one the sale of cereals products.
Am currently owning a cereal shop at Mbita Open Air Market, which started on 5th May 2007. The business is doing very well and is helping me to meet my family financial, food and children's education needs. I am married and God has blessed our marriage with 3 beautiful daughters. The 1st born is aged 11 and is in grade 6, the last born is in grade 1.
I like community organizing and voluntary work to better the environment.
My Business
I am a small scale cereals trader, mostly selling to the ultimate consumer as my business has not expanded enough to make me a supplier.
I mostly trade in dry grains namely maize, rice, beans, green grams, lentils, to name but a few. I conducted market research and did due diligence whereby I discovered that food products are very unlikely to lack a market because they are basic necessities. The target group for such kind of commodities is virtually everyone. Another motivation is that I wanted to contribute in food security (albeit in a small way), and ensure it`s done so by ensuring that my customers are always well supplied.
My monthly revenue is averagely US$230 and comes purely from selling the grains. My monthly costs go up to averagely US$130.Giving me a profit around the neighborhood of US$100 per month. The profits I get from the business goes towards my savings, meeting my family's expenses and repaying the loan.
Loan Proposal
I am requesting for a 3rd loan of KES 36, 104 to buy 16 bags of dried maize for re-selling at my food kiosk in Mbita town. The maize commodity is in high demand now and the loan will help me to stock sixteen bags for re-selling. I will make a total of KES 1,100 profit per bag and 16,600 bags will give me a profit of KES 16,600 per month. The loan from ZIDISHA will enable me to expand the business and repay the loan on time while meeting my family financial needs. I am looking forward to purchasing maize silos in future for maize preservation.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$363.00
Date disbursed
Nov 11, 2015
Repayment status
Late
Projected term
52 months
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