Purchase of maize for sale

Laban Kemboi

Nairobi, Kenya

9% repaid

Entrepreneur

Name

Laban Kemboi

Location

Nairobi, Kenya

On-time repayments

266 weekly installments  •  22%

About Me

My name is Laban Kemboi. I hold a bachelors degree in Business Management. I am a father of two and we live in the Outskirts of Nairobi City(Kawangware) to get to this place one will board a bus No. 46 from the city Centre and alight at a Stage called "Coast". I am currently employed(Permenently
) by a company in Nairobi Kenya . I decided to start a business in order to generate more income to suppliment my earnings. The earnings from the business are used to pay for bills and also invest further.

My Business

My business entails selling of Groceries within the place that i live. My products are on demand since Fruits and vegetable are normally consumed on daily basis hence there is a steady and regular market for my products .My ability to repay the loan is Quaranteed by my Current Job together with the profits am currently making from the business. My business is doing well since i treat my customers well and provide quality service and goods at an affordable price.
For this case i would like to state that i will be using my salary to repay the loan as and when granted since i earn a monthly salary regularly and this will augur well with the monthly repayments.

Loan Proposal

Thanks For Granting me anothe opportunity to borrow this Loan, I must Say that this Loans have really Improved My Business as well as Income as intended hence improving my life as well as that of the Family.
For This Loan i intend to Purchase 20 Bags of Maize @1600 kenyan Shillings,totalling up to kenya Shilings 32000/= The remaining Amount will be used to Buy Preservative, Labour and transportation Costs.

I intend to store Them awaiting a price increase around March -April, my target is to sell a bag @ 3000/= hence eventually Making a profit of about 1400/= per Bag and a total Gross Profit of 28000/=.

Over The Past Years i have noticed that Prices Normally Increasing around the said time but are currently cheap since it is harvesting time.

Looking forward for your support,Thanks in Advance

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$397.72

Date disbursed

Dec 30, 2014

Repayment status

Late

Projected term

75 months

Cost to entrepreneur

Lender interest: $397.72 at 8.08% annual rate over 75 months = $199.44

Service fee: $109.27

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