Revamp my barbershop for business expansion and education fees for damily
Kipyegon
Bomet County, Kenya
100% repaid
Entrepreneur
Name
Kipyegon
Member since
February 2015
On-time repayments
13 installments • 8%
About Me
I completed my university studies 2013 and due to high rate of unemployment in Kenya I opted to run my own small scale business so that I can earn a living. I live in Bomet District, at Manyatta village . My father is a small scale potato farmer and I assist him in part of farming activities and especially distributing potatoes to my markets.
My Business
I run a potato business commonly referred to as VIAZI SELLER locally. I operate the business from my village and other farms whereby I purchase bags of potatoes and transport them to urban markets. I have run it for 3 years now months and it has been good despite the challenges of getting access to the farms, transportation costs are expensive, changes in market prices and competition from other sellers. I have hired 4 brokers to search for farms and to assist in knitting my bags. I make an average profit of KSH5000 OR USD50 per lorry after paying out all my expenses. My target market is the busy town during market days, urban hotels and hospitals. I am expanding my business despite many challenges that I hope the lenders will assist me to continue with my business. Sometimes I suspend the business when there is no potatoes in most of my source farms. The revenues from my potato business will enable me to repay Zidisha Loan and apply for higher value to fasten Expansion of my business. My dream of becoming a successful potato distributor will be achieve if I expand my business given a support from lenders. Thank you.
Loan Proposal
I will spend my loan as follows: KSH2000 I will use to buy new shaving machines to replace the old ones.KSH 1000 will be used to hire new worker to help me with the increasing number of clients.The two changes will bring me more clients and increase my revenue.
Thank you lenders.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Feb 12, 2015
Repayment status
On Time
Projected term
3 months
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