Entrepreneur
Name
Michael
Member since
February 2015
On-time repayments
188 installments • 82%
About Me
My name is Michael Mutiso, born in Makueni county of Kenya – 35 years ago. I was born in a farming community in an area which is semi arid with an acute shortage of water. I was raised up in this rural area far away from modern civilizations. I led that simple life until I finished my secondary education and relocated to Mombasa where I began my second phase of my life.
Once in Mombasa, I enrolled in a college where I did course in sales and marketing. This course took two years to complete. I got a job shortly afterwards with local companies where I worked as a salesman and this I did for five years.
I decided to quit after the five year stint and started my own business of making soaps and detergents.
I am a family man with a wife and two children – aged 4 and 7 years.
My Business
My business deals with manufacturing soaps and detergents using simple equipment. I use raw materials such as glycerine, hydrochloric acid, industrial salt etc. I mix them using buckets and stirring stick and then package them into quantities ranging from 1 liters to 20 liters.
My main clients are shops (to retail), restaurants, hospitals and people in residential areas. They prefer my products because they are cheaper and more effective than those made by big companies. I manage to keep the price low due to low production cost and use of simple techniques. I normally package the finished products using recycled containers further reducing the cost.
I make a net profit of about $250 per month which I use for family’s sustenance.
Loan Proposal
If I get this money, I will use it to buy more raw materials so that I produce more products. I will use half of it to buy hydrochloric acid and the rest to buy industrial salt. I will also spare a small amount to buy recycled containers. I normally buy these containers from street kids and this preserves the environment as well as giving the unfortunate kids something to spend.
This stock will keep me going for a number of months thus ensuring smooth running of my business.
I expect to make good returns from the sale of the finished product which will mean a better life for my family.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 4, 2015
Repayment status
On Time
Projected term
4 months
Other loans
Lenders
United States
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