To purchase inventory and equipment for my new butchery
Samuel Wanjiku
Bungoma, Kenya
100% repaid
Entrepreneur
Name
Samuel Wanjiku
Member since
May 2019
On-time repayments
109 installments • 74%
About Me
I was born in bungoma town in bungoma county in the years 1983.I started schooling when i gatanga primary later own i moved to bungoma to complete my o level and college.The hardship i have overcome by believing in myself and doing the write thing by working hard and smart.Something unique about my community is that they like venturing into agribusiness.
My Business
I am a businessman running my own sole business.i decided to venture into this so as to create employment to my fellow youth and also to be self dependent.the people around my community mainly venture on agribusiness , therefore i decided to focus in that industry.My business generates a total of ksh.15,000-25,000 on a daily basis with a serious abnormal profits.
Loan Proposal
The main reason ave decided to apply for this loan is for the purposes of helping me raise enough funds to start a butchery business next to my restaurant.Meat is on high demand within the area where i come from but the supply is very low.Most butchery owners closed shop and ventured into grocery selling after COVID - 19 Pandemic struct hence leaving the meat business to suffer.
By venturing into this business, i will be able help with constant supply of meat within the area and far and my restaurant too will have a constant supply of meat.
By venturing into this business, i will also be able to boost my restaurant business since meat for the restaurant business will be easily a available hence saving on time wasted looking for meat.
Income Source
After carrying out a study around where i stay i came to a conclusion that meat was high on demand but there were very few suppliers hence most meat customers were left disappointed and unsatisfied.By setting up this business, i believe i will be able to get customers who will buy the meat hence i will be able to repay the loan.
By the help of lenders funding a loan i applied in the past, i was able start a restaurant business which is doing well.I can also pay for this loan by using profits from my restaurant business in case the new butchery alone fails to raise enough money to repay for this loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,082.31
Date disbursed
Oct 26, 2020
Repayment status
On Time
Projected term
3 months
Cost to entrepreneur
Service fee: $97.97
Credit risk payment:
$146.95
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