Transportation of timber

Duncan Macharia

Nairobi, Kenya

Funds disbursed

$0 to go

100% funded of $124 goal

0

days left

Entrepreneur

Name

Duncan Macharia

Member since

September 2018

On-time repayments

23 installments  •  61%

About Me

I am 43 years old business graduate, married, and a father of two children. Before I ventured into business 10 years ago, I was employed as a management accountant where I worked for 13 years.

I decided to venture into business full time to pursue my long-time hobby in order to improve my standard of living and also create employment opportunities for young people.

My Business

I have been operating the timber business, for the last ten years. Initially, I took it as a hobby which I was only engaging on weekends only.

Five years ago, I decided to resign from my employment and concentrate on the business full time. I have since expanded and acquired milling machines in order to reduce costs and also be able to offer market competitive prices.

I have engaged 10 people on a full-time basis and 7 on a casual basis.

Loan Proposal

The loan facility will be used in hiring a truck to transport timber to the market. This will help in meeting delivery timelines.

Income Source

The money to repay the loan will be generated from the sales made after I deliver. Generally in the timber business, the major risk is an accident when felling trees and also weather patterns as no milling is done during rainy seasons. I try and fully utilize the dry periods to ensure that I have enough timber to last during the rainy season. As for the accident, I take an insurance cover to indemnify in case of any accidents.

Feedback

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$124.25

Date disbursed

Mar 30, 2021

Repayment status

Late

Projected term

2 weeks

Cost to entrepreneur

Service fee: $6.12

Credit risk payment: $13.46

Optional expediting fee: $12.24

Lenders

lizandsteve

guelph, Canada

B

bwitt

Berkeley, United States

SuperMario28

Cudahy, United States

The Zinc Team

San Francisco, United States

A

As

United States

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