Open a new food outlet to cater for more customers
Michael
Kisauni, Kenya
100% repaid
Entrepreneur
Name
Michael
Member since
March 2015
On-time repayments
234 installments • 99%
About Me
My name is Michael Kinaro but most of my friends call me Mike. Mike was born in Central Kenya where almost everybody is a farmer. The area is known for potato and tomatoes production which is normally consumed in the capital city Nairobi.
My parents like everyone else in the area are farmers and it is this early exposure to farming that would shape my future. I did my primary and secondary education and then proceeded to Mombasa to join my uncle who was well established in business. He was a wholesaler in arguably the largest market in East Africa called Kongowea in Mombasa. This is a market where many food produce from the country and even from neighboring countries are sold.
He trained me for one year and then I started my own business within the market. This is what I am doing to date.
I am very sound spiritually and I serve as a deacon in my church. I joined a theological college a few years ago and did a diploma course in theology; in an effort to get to know the word of God better. I harbor desire to do a degree course, in the same field - time and resources allowing.
My Business
I deal with selling of fresh tomatoes and onions at the Kongowea market. I source the produce from upcountry where these crops grow abundantly. This is a business that calls for speed delivery due to its perishable nature. For this reason, my day starts quite early at 4.00 a.m when I arrive at the market to receive the produce which is transported overnight for a distance of about 600km. My day of work ends at 2.00 p.m when I sell my last tomato.
I normally sell tomatoes in boxes. My main clients are retailers and hotel owners. I am proud of this business because it is the one that supports my family 100%. I am able to make a modest profit of about $200 per month but this can go higher during the peak tourism season when big hotels buy these products in large quantities.
I am hoping to diversify my range of products to include fruits like mangoes and oranges which do quite well in the market.
Loan Proposal
I want to use money from the second loan to expand my business. If funded, I will open an outlet in my residential estate where I will be able to sell tomatoes and fruits for long hours. The market where I sell these food items closes at noon and this cuts off the would be buyers who do shopping in the afternoon and in the evening.
Once I open a stall in the estate, I will be able to control my time since I can open and close at any time I choose to. I live a few kilometers from the market and with assistance from family members; I will be able to run the two businesses comfortably. I am expecting to reap good returns from this new venture and I am appealing to you to be part of the anticipated success by lending me.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$190.00
Date disbursed
Jul 9, 2015
Repayment status
On Time
Projected term
4 months
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