To buy fridge for perishable goods

Elam

Nakuru, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Elam

Member since

February 2015

On-time repayments

121 installments • 79%

About Me

My name is Elam Sipenji. I was born in Nakuru County Kenya in a family of seven. My parents were and still are peasant farmers where they do subsistence farming. We grew up in rural area and our parents who were farmers did their best to educate us with proceeds from the farm which we sold as children at the market.School was about 30 kilometers away and we walked daily to school unless we had fees arrears,then we would look for menial chores to do in order to raise the fee balances that we owed the school, life had a lot of hardship where my family struggled to get even basic necessities. I endured deprived upbringing and navigated safely into adulthood. I went to school up to secondary school and later relocated to Nairobi city to live with my cousin. This is where my life changed drastically as I became accustomed to urban life. My kind cousin enrolled me into a business management course. I worked as an intern for one year and later with the help of my cousin, I opened a shop in Nakuru town.

My Business

I own a food kiosk(a small shop/place) where I sell different kinds of local foods and stuffs for people especially the locals in my area . Since I started this business, I have developed instantly. I started with selling parrafin, I eventually introduced other heavier stuffs like wheat floor, cooking oil, peas, maize and beans etc. I earn at least 10 dollars daily after paying my attendant and materials. I save 5 dollars, for my future, while the rest I invest in the business. I pay the levies for the county Government 1 dollar. From this business, I pay my house rent, I buy my clothes, and I support my younger siblings who are still in school

Loan Proposal

Thanks lenders for your first loan I seeking the second loan to buy a fridge since my business is growing at a very high rate. I have a fridge that is small and I need to buy a larger fridge. My biggest challenge is enough capital to buy a bigger fridge in order to increase my sales. If granted the loan I will add another 250$ from my savings and buy me a fridge worth approximately 500$ for perishable goods like ilk and soft drinks. This investment will earn me an extra 200$ per month; because, with a fridge I’ll be able to buy larger quantities of milk and keep it longer thus reducing losses due to the milk fermenting. And aso keep the sft drinks cold during sunny weathers. That means my sale will increase approximately 200$ per month. The returns will then help expand my business by increasing inventory so as to achieve customer retention. I have a vision for my business and having this loan will assist me work towards the future of my business