Purchase inventory of my business

Beryl Otieno

Utawala M.c Shopping Center, Kenya

100% repaid

Entrepreneur

Name

Beryl Otieno

Member since

April 2013

On-time repayments

82 installments  •  100%

About Me

I am Married with 2 children one of 18years and the other one is 9 years. I have work for several companies before making decision to start my own business three years ago. I started with selling clothes but the business did not do well because of low demand. I started selling charcoal which is fast moving commodity in my are where by everybody uses it as a source of energy for cooking and warming during cool weather. The business is good during winter when this product is on high demand due to the cold weather.Besides am always involved in community projects with widow and orphans.widows are required to form a group of ten members,come up with the constitution,and bylaw that would use to govern their group,after that they are registered with the government under Ministry of Gender and Social services,which can allow them access government funds like Uwezo[meaning am capable] and women fund,which attracts lower interest rates as opposed to other mainstream Banks,apart from that ,they meet once a week ,each contributes a dollar,the total is loaned to one member ,who is expected to go and restock her vegetable kiosk,earn a little profit,then return the money after a fortnight with a 5%interest,this has gone along way in improving their financial skills as well as believing in themselves.Most of these widows have been sent away by their in-laws after loosing their husbands,which prompted them to resort to unconventional ways of putting food on the table like prostitution,their future plans include enrolling in government technical Training centers which trains short courses on Hair dressing,Bead work[making very nice earrings an necklaces,purse,and flower vase]pottery,and Tailoring,this courses are far cheaper in government facilities,but this will always be their wishful thinking unless society shows goodwill and pays for this courses.The orphans have also been rehabilitated back to school through government Bursary,instead of doing drugs on the street,they are only allowed to make money through Garbage collection during weekend where every household is expected to pay 1 dollar for every collection,this goes along way in helping them buy food and a bit of clothing.Am a firm believer of giving back to society in whatever way however little,because at the end of the day ,i will have made a difference in someone's life.

My Business

My business is that of selling charcoal to the local villagers I started in the year 2010.the current operating capital is Ksh 25,000 and make a gross profit of KSH 30000 and after paying for all my expenses I remain with a net profit of ksh 7000 which I use for my family needs. I want to increase my capital by at list twice to maximize the business premises space which is currently under utilized.It has a capacity of 100bags of charcoal which I think through Zidisha funding I will be able to meet my goals of stocking 100bags with any given time.I operate this charcoal store about 500m from where i live,my clients are mainly neighbors,church members,and family friends.they are about 3 other charcoal stores,but am a firm believer of business competition,because it keeps me on edge and focused,av seen growth both in clients base and profit,and the no of clients has also tripped from the initial 10 that i started with to 35 that am currently working with,my main secret being good communication skills,so am able to understand my clients specifications and charcoal needs,free delivery is also offered to clients that stay about 200m from the store.i have also introduced an after sale service whereby i will call the client after every delivery and inquire if they are satisfied with the quality and efficiency of the charcoal,in-case of any complaints ,then i would call my supplier immediately and alert him to avoid any recurrence of the problem,by doing all this av been able to build a good rapporteur all my clients based on trust ,honesty and consistency in quality .five years from know am seeing myself being the leading charcoal distributor in githunguri area, and of-course this will only be possible with the continued partnership with zidisha family.

Loan Proposal

Charcoal is the main source of energy in my area,used mainly for cooking and boiling of drinking water,demand is already there due to good quality that i deliver and good customer care skills which for me comes naturally,if you fund this loan I will be able to increase my current stock from 35bags to 80bags,I will be able to make a profit of 185.Dollars on a monthly basis.rent will cost me 28 Dollars per month,county tax department will take 11.dollars also monthly,after deducting all the expenses I remain with a cool profit of 144 Dollars,from this i can comfortably pay your loan back,and even save some for the extension of my daughters bedroom which I promised her that would be ready before December holidays...so kindly have faith in me and fund this loan.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$382.38

Date disbursed

Nov 12, 2014

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Lender interest: $382.38 at 10.50% annual rate over 3 months = $12.79

Service fee: $4.46

Lenders

johnfay

Lusaka, Zambia, South Africa

D

Delph007

Den Haag, Netherlands

MindMuse

Talking Rock, United States

H

hwwijono

Jakarta, Indonesia

G

grahamfamily

Guildford, United Kingdom

D

Dadiolafs

Vestmannaeyjar, Iceland

lorello

Vicopisano, Italy

McJulio

New Jersey, United States

ads68

Melbourne, Australia

E

erogers

Vancouver, Canada

fairspirit

Utrecht, Netherlands

Stefano Bertolo

Luxembourg, Luxembourg

markpearson

Portsmouth, United Kingdom

E

E

Marin county, United States

H

Haavard

Bergen, Norway

pvilliger

Zurich, Switzerland

Matching Fund

Sterling, United States

X

xavier

Toronto, Canada

Paul Buchheit

Mountain View, United States

Vesa

Helsinki, Finland

S

stryker75

United States

J

JessicaAna

Maputo, United States

ToddTho

World Wide, United States

DF

Dennis Furr

United Kingdom

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