Buy advanced heater for boiled-eggs business

Meshack Aguda

Kisumu, Kenya

100% repaid

Entrepreneur

Name

Meshack Aguda

Member since

January 2015

On-time repayments

30 installments  •  13%

About Me

my name is meshack aguda.i am afourth born in a family of 8.i went to ramba primary school and later ramba secondary where i finished my fourth form.after high school,my parents could not afford my college fees because they had to provide for my other siblings.since my parents depend on farming for our livelihood and with the current change in climatic conditions,rainfall has been limited and therefore production has been adversly affected,consequently,i had to look for a way out and do something that could be of economic significance to both myself and my family.

My Business

i therefore started poultry farming with 100 laying birds.unfortunately,my birds got infected with newcastle and consequently all of them died.after recovering from that shock,i had to devise a way out.since i couldnt manage to procure new chicks due to financial constraints,i sold my ram which was the only asset i had at that moment for 3280KES.with the proceeds from that sale,i moved to Kisumu which is the nearest town from home upon invitation by a friend.it is upon my arrival there that i saw an opportunity that i could grab bearing in mind the meagre capital i had.i started buying eggs from afarm near where i stayed starting with 10 trays of eggs.out of this,i boiled half them starting with a tray a day since people liked buying boiled eggs.buying an egg at 8KES and selling at 15KES,i managed to get a net profit of 5KES per egg because the 2KES used to go to the cost of charcoal which was the fuel i used to boil eggs with.i started by selling a tray aday gradually expanding to a point i could sell 5trays aday cormfortably hence netting approximately 750KES daily.since the demand outweighed supply at the farm where i used to buy eggs,i had to source for eggs outside town in order to keep my clientele.as a result of that venture,i have been able to assist my parents in paying fees for my other siblings and to live in asingle room in town.

Loan Proposal

i would like to buy an advanced heater to help me in boiling of eggs and help me save on time and energy costs.the heater is currently 115 dollars.this will enable me to boil many eggs and consequently increase my daily boiling capacity.this will in turn make me increase my sales and also my profits.i expect my daily profits to increase by 9 dollars aday thereby translating to increased profits of 63 dollars a week.this will help me to assist my parents by paying fees for my younger siblings and plough back the remaining into the business.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Apr 8, 2015

Repayment status

On Time

Projected term

8 weeks

Other loans

Lenders

Cathy

Melbourne, Australia

Jason Ogg

New Zealand

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