Purchasing rice in bulk

Millicent

Marachi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Millicent

Member since

March 2014

On-time repayments

256 installments • 90%

About Me

I am a kenyan young woman and i went to school upto form four from there i have done jobs with contracts that do not last for more than three months at a time with the wages from these i have set up a clothes business. Occassinally i deal in cerals business as well and this is so bacause i mostly buy this produce from Bunyala which is located within Busia county this reduces transport cost thereby maximizing my profit.A loan of $850 would go a long way to boost my businessess if it can be approved.When need be i turn to friends and family for soft loans i cant go to the banks as there rates are too much for me.

My Business

I mostly deal with ready made clothes which i buy from Uganda as Busia is located at the border of kenya and Uganda, and occasionally i deal in used clothes as well at times i find my stock wanting and that is what i intend to do with the loan money that is to stock my business.my occasinal business in cereals(rice) from Bunyala can only be conducted when the prices are favourably as my economies of scale is low such loans would enable me increase the economies of scale and the combined proceeds of this two businesses will enable me to pay the loan comfortably i currently need about $850.

Loan Proposal

Kenyans consume maize and its products as staple food and with the current shortage of maize in the country i intend to purchase rice in bulk and sale it to retailers and given the expected rate of stock turn-over iam confident of repaying on time and promptly.
I have carried out a feasibility study and this is how i project my expenses to be once i venture into this business,
Transport cost Us$120
Buying price Us$800
miscellenous expenses Us$100