Entrepreneur
Name
James
Member since
June 2013
On-time repayments
107 installments • 8%
About Me
I am the first born in a family of seven with both parents, two brothers and two sisters. I am a business man and a form four graduate with a certificate in driving and computer packages. I started a business to earn for a living and lead a better life by supporting my parents in raising the younger ones and also paying for their school fees. I purchase some home basic products like maize and wheat flour, salt, sugar, cooking fat and many others and i display them in my shop business ready for sale.
My Business
My business is a sole proprietorship since i am the owner and i run it. The goods that it provides are basic ones like rice, bread and others that are needed for normal life. There is high demand for these goods because some are used as daily food like maize flour and since my shop is located at the town square, most people have no access to farm products and thus they tend to buy from shops. My customers prefer my business despite of the existing competition market because I make sure they do not lack what they want and i still relate very well with them and thus making large amount of sale and so it is much profitable. The risk comes when there is inflation and the demand goes low but mostly this does not last for long. At the end of the month i always manage to get a profit of 11000ksh and as a result am able to incur the costs which amounts to 4000ksh including house rent. My business is good because it deals with basic commodities which are always in demand.
Loan Proposal
Thank you for giving me this second chance to prove on my capability to work hard and emerge a successful business person. Am going to use the loan in adding more stock in my shop and this will boost my business very much. Some commodities like sugar, salt maize flour, rice and cooking fat move more faster as compared to the rest so they need to be in large quantities. Thank you very much.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$308.00
Date disbursed
Jan 16, 2014
Repayment status
Late
Projected term
24 months
Other loans
Lenders
San Francisco, United States
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