To purchase bags of maize for sale

Entrepreneur

About Me

My fullnames are Frank Mumba I was born in Kitwe. I started school in kitwe and at some time my mother who was a nurse by profession retired and we moved at the farm in lufwanyama district. Before shifting there my mother bought a house and a shop at the market. We moved to lufwanyama and unfortunately schools were very far so I stopped school it was dangerous for me walk long distances. I stopped school and concentrated on helping my mother at the farm. My mother is a single parent and am only child. In farming I started making some money every farming season and it has now become my business. I am now married with 1 child a girl who wants to become a pilot. My hobbies are singing and gardening.

My Business

How I started this business was when I saw life becoming difficult in the bush at the farm. In my country Zambia staple food is nshima which comes from maize. From maize people make mealie meal, meal samp and the remainder is good food for chickens. So maize is on high demand every household needs maize. And that’s how I identified my businesss because of demand. I normally buy maize in bulk from lufwanyama then I sell per 5kg or meda. I make good profit from this business. The major cost I face is transport. After I make profit I help my mother in the village and the rest I buy food at home.

Loan Proposal

Am applying for loan amount of 1,047 ZMW which I intend to use to buy bags of maize. My business is on demand so am sure to make profit. I plant my own maize with my my mother at the farm which I transport to kitwe and sell in smaller quantities. My shop is in a poor community so they cant buy a bag of maize in smaller quantities they can manage. I sell in 5kg or meda. Once I receive the loan money I will buy additional 4 bags of maize at k100. From I bag there are which I buy at k100, I sell about k170 but when I remove cost of transport which is k30 per bag I make k40 as profit. The profit I will make am able to put back in my business so that it grows big. Thank you in advance.

Income Source

When i face difficulty in the economy am able to go back at the farm and do some piece work even at other farms and make money. The other thing I can do when I face economic challenges is to change market I take my maize where there is more demand. Otherwise am still a very energetic man so I can do any work just to make sure I pay. AT the farm we also grow vegetables and tomatoes so it is easy for me to make extra money and pay for the loan.Am very committed and I will pay without problems.

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