Venturing into farm inputs: cereals and vegetables

Silas Amayi

Bungoma, Kenya

47% repaid

Entrepreneur

Name

Silas Amayi

Member since

June 2014

On-time repayments

326 installments  •  10%

About Me

Am a married man with one wife and a child. I reside in western part of Kenya. Education-undergraduate. I started the business to help me earn a living and support my family. My hobbies are singing worship songs, travelling, reading books and making friends. During my part time, i would like to advance my education when i raise school fees. From the profit from my business, 50% goes to the family up-bring and other for business expansion. I look forward to have a stable business that can keep my family, educate them and open other viable projects in future.

My Business

I have venture in cereals and other farms inputs. I travel around to get varieties of cereals e.g dry maize, millet, sorghum, beans/tomatoes, Onions etc. I prefer to buying them during harvest time hence, low in prices then i stock them for a while and sell to get reasonable profit. I preferred this business because these cereals are our staple food. I sell these cereals to institutions and local markets. Example 1: 1 sack of 90kg of maize buying price 32.5 USD, i sell it at 40.6 USD. 1 crate for tomatoes costs 29.5 USD, i sell it at 35.3USD making profit of 5.8 USDThe challenge in this business is where to stock for you need a store/warehouse. But because of high cost involved, i do it in the house looking forward to construct my on structure.

Loan Proposal

I plan to construct a store house where i can store my farm produce. I want to construct a two room store. I will need 16 iron sheets @7 USD=113 USD, 1500 bricks @0.09 USD=123USD, 10 bags of cement @9 USD=900 USD, other materials are locally available. This store will increase my productivity since no daily transport my goods back in the house again. In the in case of bad weather condition, i will be at peace not to close my business earlier like before hence loosing more customers. I will be glad once i realize this project. Other contribution i will raise them through my business profit.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$294.09

Date disbursed

Oct 30, 2014

Repayment status

Late

Projected term

73 months

Cost to entrepreneur

Lender interest: $294.09 at 7.78% annual rate over 73 months = $138.79

Service fee: $55.47

Lenders

J

JBosshardt

Redmond, United States

F

Fiodal

Helsinki, Finland

E

ericcamden

Berkeley, United States

S

SelvaMarcus

Green Cove Springs, United States

J

jjonas

berlin, Germany

fairspirit

Utrecht, Netherlands

iamdaimo

London, United Kingdom

T

Thombson

Jyväskylä, Finland

H

harrymore

Townsville, Australia

HealthcareProvider

Baltimore, United States

E

ecarlsonbast

San Francisco, United States

L

lenders

United States

CMK71

San Francisco, United States

A

ajayhk

San Jose, United States

Agerfar

Aarhus, Denmark

Leonardia

Waddinxveen, Netherlands

DennisM

Netherlands

M

mbarbier

United States

SE

Sven E

Mannheim, Germany

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