Entrepreneur
Name
Samuel
Member since
February 2021
On-time repayments
17 installments • 29%
About Me
My name is Samuel Udoh. I was born and raised in Southern Nigeria, Akwa Ibom precisely. After my studies in the University, I left for Northern Nigeria, to seek greener pastures. Southern Nigeria is where the nation's crude oil comes from, but endemic corruption has left the place grossly underdeveloped, amidst incessant oil spillages that have crippled economic activity like fishing in riverine areas of the region.
Northern Nigeria is more populated, and houses the nation's capital city. I own a news blog with which I intentionally want to lend a voice to community development- www.koffeeafrica.com and in addition to running my food business startup, I work as a volunteer teacher in an elementary school in one of the slum-like suburbs in the Federal Capital.
My Business
The peculiar differences in weather conditions in Northern and Southern Nigeria, significantly differentiates the type of crops and agricultural activities in the two parts of the country. The southern region of Nigeria experiences a double rainfall maxima characterised by two high rainfall peaks, with a short dry season, which encourages planting of tree crops like Palm Oil Tree, while the pronounced dry season in the Northern part of the country supports the planting of cereals like millet, sorghum, and cowpea.
My Business involves buying palm oil from mills in my hometown and supplying same to retail sellers here in the capital city. My business model is built on INTEGRITY. Most traders adulterate the palm oil they sell, hence the high demand of quality and edible palm oil by restaurant owners.
Loan Proposal
Getting a loan means raising more capital, which also means increasing my trade volume, and in turn supporting families of the women who work in the mills. From the mills to Abuja is about 650kms, and increasing the number of gallons purchased, reduces the transport cost per unit.
Income Source
Selling unadulterated palm oil to restaurant owners have raised the demands in the city. Clients pay on delivery and with the income generated, repayments will be made timely. Being able to supply demanded quantities will be a huge boost to my business.
My Videos
Mar 16, 2021: Self introduction
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Loan Info
Project Type
Classic Loan
Disbursed amount
$13.00
Date disbursed
Mar 8, 2021
Repayment status
On Time
Projected term
1 week
Other loans
Lenders
United States
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