Maize stock for my posho (maize flour) mill
Anthony
Meroleni, Kenya
100% repaid
Entrepreneur
Name
Anthony
Member since
May 2017
On-time repayments
47 installments • 72%
About Me
I am Anthony Katua, a Kenyan born way back in the year 1997. I live and do business in the Meloreni area of the larger Subukia. I am trained in mechanical engineering at a local college. This did not help me in securing a good job. I therefore, driven by desire to live a decent life and make a living, decided to start a business.
This business has been doing fine, and most of the time I am just in my business ensuring that it runs smoothly. My wife also assists greatly in running the business, as when am not in the business she takes over. Sometimes I do go out to meet customers and negotiate for orders. Besides doing business, I do read a lot, particularly materials that are inspiring and encouraging. I also like watching football.
My Business
I do own a posho (maize flour) mill that I started with help of my elder brothers and sisters. The posho mill does well, and at times I do sell flour and maize germ for farmers around.
The business is doing well, though recently there was a shortage of maize around due to low rainfall and maize disease that affected many farmers countrywide. This impacted high on supply and many businesses were down. In the months of August to January, the business does well since there is abundant supply.
Currently we have a crisis in Kenya at large, since maize flour (or unga, as it is commonly known) is in shortage. The rains have failed this year and it's going to be worse if something is not done.
Loan Proposal
For this third loan, I would wish to prepare for the harvesting season around the corner by purchasing more maize stock to take me through the year. During the next few months, most farmers will be harvesting and selling their maize. This means that with high supply, prices will be low and I will comfortably able to stock my target of 100 bags (30kg), which will go at roughly $18 USD per bag. This is still below what I would have wished, but I have limitation of a room, and again with these continued rains, I fear that they will not be dry enough, so that I will be forced to dry them and this might have additional cost. Early January I plan again to restock this time more, and hopefully I will have cleared this loan and may be on another one.
About Me
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My Business
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Loan Proposal
For this third loan, I would wish to prepare for the harvesting season around the corner by purchasing me more maize stock to take me through the year. During the next few months most farmers will be harvesting and selling their maize. This means that with high supply, prices will be low and I will comfortable stock my target of 100 Bags (30kg) Which will go at roughly 18USD per bag. This is still below what I would have wished but I have limitation of a room and again with this continued rains, I fear that they will not be dry enough something that I will be forced to dry them and this might have additional cost. Early January I plan again to restock this time more and hopefully I will have cleared this loan and may be on another one.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$435.00
Date disbursed
Oct 1, 2017
Repayment status
On Time
Projected term
102 months
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