To buy popcorns cooking machine for selling popcorns
Muriuki
Chuka, Kenya
6% repaid
Entrepreneur
Name
Muriuki
Member since
February 2015
On-time repayments
209 installments • 10%
About Me
My name is Muriuki Mugambi aged 24 years.I attended Ndagani Primary School and later went to Chuka Boys High School for my secondary education.After which I joined Chuka University where am currently taking a degree in Economics and Sociology.My homeland is at Tharaka-Nithi County in Meru South,Eastern province. I come from a single parent family of eight.I have been overcoming my challenges such as lack of fees through this business as well as doing small job like agribusiness in my home. Since Chuka is a growing town as well as business center there is a high possibility that a well started business will grow. Currently i do not have a family but i hope that my business will grow such that my children will manage it. My hobby is making friends and reading inspirational books. This helps me in knowing how to socialize with customers.
My Business
I sell popcorn and soft drinks to university students at the school's student center. I came to realize many students like popcorn and soft drinks and they could access it from the towns supermarket which happens to be far from the school and so I started the business. Since I was not financially stable, I made this observation and thought it wise to start this business.Also the popcorn business was not time consuming and required less funds to start. It gave me ample time to balance between running a business as well as attending my classes. It costs me around 80 dollars per week to purchase popcorn grains and soft drinks which will return profits of 40 dollars weekly. I use my profits for my sustainability and also paying for my school fees. The remaining profits I reinvest into the business as I am planning to buy a freezer for selling ice-creams.The cost of a freezer is around 350 dollars.
Loan Proposal
I am planning to buy another popcorn cooking machine for selling popcorn and station it at the nearby market called Ndagani, this market is one of the most potential places for business around, since i have been the only popcorn supplier to the the university students as well as the nearby market i expect i high profit making of about 50 dollars per week by selling popcorn at this market, this machine cost about 350dollars with 50dollar to buy stock for starting the new business, this will therefore cost me 400dollars in total to start this business, given the loan, i will add up with little savings i have to buy this machine and open my new business at the nearby market as an expansion of my business in which i believe i will have an increase of my income at 50-100dollars weekly, this therefore means that i will be able to repay my loan in time, i will greatly appreciate having been given this loan to expand my business, thank you zidisha family.
Feedback
Positive
None
Neutral
None
Negative
1
Loan Info
Project Type
Classic Loan
Disbursed amount
$189.00
Date disbursed
Jul 24, 2015
Repayment status
Late
Projected term
45 months
Other loans
Lenders
Ask Muriuki a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
Loading...