Entrepreneur
Name
Moses
Member since
August 2016
On-time repayments
117 installments • 70%
About Me
I grew up in Migori in western part of Kenya.my childhood life wasn't a bed of roses since I lost my dad when I was ten years old.life had yo be tough for my mother who had do bring us up single handed, ie my two sisters and I.
At a later stage in life, I had to take leave out of school in order to lessen the burden of finances used in bringing up and maintaining the family, but I rejoined my schooling later on.
Later on I lost my mother after she fell ill for a short time,leaving us in the care of our grandmother, and at a tender age of 18, I can say, it wasn't easy for me.
I later realized it was upon me to find away of sustaining our family and taking care of my siblings,and that's when the idea of looking for employment or starting a business came to my mind.
Surrounded by different challenges, I had to find ways of taking care of my siblings.and so I moved to Nairobi city to look for employment.
After working for sometime, I saved enough to start a retail shop that I run up to date.
Am also a pastor at my local church and so in my free time, I spend most of it reading spiritual books and also teaching the word of God.
I also love singing.
My Business
I own a retail shop.where I sell different commodities,.of late, I introduced serials in my stock, which I came to realize that was very marketable around Umoja Estate where my shop is situated.
I later came to realize that I can boil mixture of beans and maize and sell at the same shop, and make it easier for people who don't have enough time for cooking in their houses. I also boil beans and can be bought along side rice which is also stocked in my shop.
Apart from the serials, the commodities that move faster are eggs, milk, bread, and soft drinks.so through the above observation, I realized that food is a necessity and so there will always be market for it.
My cost differ since there are different kinds of commodities in the shop.all I have to do is to maintain the stock at the best level.
Averagely when I go through my stock every week, I realize that my profit margin is 160 dollars
I use part of the profit for school fees for my siblings and to increase my stock.
Sometimes I use surplus for home Improvement.
Loan Proposal
I intend to buy cereals to stock in my shop.
i realized that different customers preferred different type of beans for their diet,so I decided to stock more beans and maize.
At the moment,I sell three bags of maize,two bags of beans and one bag of rice in a week.
A bag of 90kgs beans goes for 90dollars(wholesale price)
A bag of 90kgs maize goes for 36dollars(wholesale price)
A bag of 90kgs rice goes for 135dollars(wholesale price)
I sell a bag of beans at a price of 130dollars, this is because most of the time beans is sold at 2.5dollars per 2kg.Making profit of 40dollars per bag.so two bags raise profit of 80dollars per week.
I sell a bag of maize at a price of 54dollars, and this is also because i sell at 1.2dollars per 2kgs.Making profit of 18dollars per bag.so three bags raise profit of 54dollars per week.
I sell a bag of rice at a price of 162dollars, this is because rice is sold at a price of 1.8dollars per kg.Making profit of 27dollars per week.Rice is sol differently unlike other cereals.
In total, my profit comes to approximately 161dollars per weeek.
The reason why i sell more bag of maize compared to beans is because when boiling mixture of maize and beans is done at a ration of 3;1,so maize is mostly used.
This will definately increase my profit margin and assist me in completing different projects that i have so far eg building a house and also school fees.
It has also benefited others because i have already employed one person at the shop who helps in day to day activities.
It will also help the community around since most people will continue getting my services of ready food and also other food supplies.
I expect my profit margin to grow by 25%.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$504.00
Date disbursed
Nov 30, 2016
Repayment status
On Time
Projected term
10 months
Other loans
Lenders
Los Angeles, United States
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