Sale of props

Entrepreneur

About Me

I am 43 years old business graduate, married, and a father of two children. Before I ventured into business 10 years ago, I was employed as a management accountant where I worked for 13 years.

I decided to venture into business full time to pursue my long-time hobby in order to improve my standard of living and also create employment opportunities for young people.

My Business

I have been operating the timber business, for the last ten years. Initially, I took it as a hobby which I was only engaging on weekends only.

Five years ago, I decided to resign from my employment and concentrate on the business full time. I have since expanded and acquired milling machines in order to reduce costs and also be able to offer market competitive prices.

I have engaged 10 people on a full-time basis and 7 on a casual basis.

Loan Proposal

This credit will be used to hire a lorry to transport 500 props from Othaya to Nairobi. The cost of hire is KES 22,000.00 and KES 2,500.00 for the movement permit. I expected to deliver the props to a construction site in Eastleigh, Nairobi and receive the payment after delivery.

I have agreed with the transporter to pay an initial deposit of 15,000.00 and pay the balance after delivery. This loan will be used to pay for the transport deposit.

Income Source

I already secured the source of materials (props) which are required in the construction industry which is booming in Kenya. To ensure smooth cashflows, I have insisted on payment on delivery, to enable me to meet the business's financial commitment such as paying of wages, loan repayments, rent, etc.

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