Harun Githinji

Weru, Kenya

14% repaid

Entrepreneur

Name

Harun Githinji

Member since

October 2012

On-time repayments

72 installments  •  21%

About Me

My name is Harun Githinji Ndungu from Kenya Central Province, Nyandarua County. I was born in 1981 In Mombasa Coast Province. I am third born in a family of Five. I am currently self employed in a small business dealing with petroleum products in Chobe Centre, North Kinangop Situated along Njambini - Engineer road. This area is fast growing and with the District headquaters at Engineer 3 km from Chobe. The need for more housing has seen the population and general development being on the rise. I started this venture having seen the same type of business do well in other places. After doing my research, i decided it was time to give it a try and after mobilising startup capital, I started. The business have been doing fine and with it i have been able to earn income that has been enough to take care of my needs. Part of the income has also been diverted to farming, an area i had interest in.

My Business

I want to expand my business which has shown great prospect of growth. The business is located within a rural setup (location). This place has no electricity and majority rely on other sources of energy. With availability of rental houses, there are many residents working in the neighbouring towns, Engineer, Munyaka and Njambini. Many people choose this location because of availability of cheap rental houses. I intend to open two branches to maximise sales. The areas sorrounding Chobe i.e Chuma, Gathaara, kamunyaka Thindi, Kijiko and other interior places all access this products either at Weru, Engineer or Njambini. Chobe is a Junction that servers other areas and the only reliable means of transport are the Motorbikes. These motorbikes also access fuel from far distance. I there fore find this as a market gap which i intend to fill. This areas has few Secondary Schools which i want to explore possibility of them being my large scale customers. I also intend to buy in bulk and this will help me attain economies of scale which will help me in turn less at relatively lower price than the few Vendors who sell this products from their shops. By doing so, i will have competitive edge over them. The Health officials have also sited these vendors as being insensitive to consumers by stocking such types of business with other foodstuffs.
Currently i sell on average 25 litres @ 115 i sell the same @ 140 With a profit of Ksh. 25. (25 x 25=625) Per day. This translates to a Gross profit Ksh. 18750 per month. and Net Profit of Ksh. 11,000. Its with this projection that i want to expand the business to include Kerosene There by maximising sales. Its with this view that i want to borrow a loan of Ksh 65 000 so that i can expand my business.

Loan Proposal

Thank you lenders for giving me this opportunity to post my second loan. In this second loan I want venture into dairy farming, this is after I bought 1 dairy cow form proceeds of my current undertaking, which is my fuel business. The business is doing well and I have able to purchase 1 cow that is doing well so far and soon if all goes well I will be able to join Tulaga farmers SACCO where I will be delivering the produce. With this I will be able to boost my current fuel business that is also doing well. My wife will manage this dairy business while I will be managing my current business. I intend to buy two more high breed dairy cattle from the current Brookside offer. I want also to breed them in a zero grazing setup so I will construct a modern feeding yard to minimize wastage of feeds and labour. I am also in small scale farming so I want to take advantage of current rainy season where I will plant feeder crops. With this I want to setup a modern biogas project that will save on my energy consumption in the house this is also environmental friendly. Milk is now on high demand and I am convinced that this is a noble venture since currently the demand for milk is high and I want to fill the market gap for the same. Once again thank you.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,381.00

Date disbursed

Dec 9, 2013

Repayment status

Late

Projected term

63 months

Cost to entrepreneur

Lender interest: $1,381.00 at 8.25% annual rate over 63 months = $601.31

Service fee: $257.25

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