Wheat flour and cooking oil for my business
Vincent
Kahawa, Kenya
100% repaid
Entrepreneur
Name
Vincent
Member since
July 2015
On-time repayments
252 installments • 22%
About Me
I am the first born in a poligamous family of seven children, currently a final year student pursuing bachelor of economics and finance at Kenyatta University. I lost both of my parents to HIV/AIDS while I was in primary school.The fact that parent died of HIV/AIDs really caused me a lot of stigmatisation as fellow pupils did not want to associate with me but I never let that deter my pursuit for education.
After thorough analysis of the market I realised that majority of the said market could hardly afford a loaf of bread and hence the need of a cheaper alternative. I then did a market research and tested the products to determine their acceptance, my land and culture is unique and is known for its wide spread HIV/AIDs cases.
During my free time I usually visit orphanages for voluntary services and motivational talks.
My Business
I make and sell baked products especially the homemade doughnut.My products are unique in tastes and are also preferred for their freshness and natural nature since I use no preservative.
I chose this business upon studying the market factors.I also wanted to salvage my target group( majority of whom are students) from the escalating prices of loaves of breads.
My typical costs entail the cost of inputs and other miscellaneous expenses totaling up to about 100 US dollars per day as my working capital generating a daily revenue of about 140 US dollars.
I save 15% of my profit and plough back the rest into the business for growth.
Loan Proposal
My first loan has had positive impacts on my business as well as my social life.The bicycle i bought has saved me over 25 hours a week thus increased efficiency. The bicycle has also enabled me to increase market coverage which has in turn increased my daily revenue from 140USD to 180USD. Increased revenue has led to increased profit and savings.
Increased savings also enabled to visit orphanages more frequently for voluntary services and motivational talks.
With the increased savings i have been able to take my aged grandma to the physician for eye checkup,what i haven't been able to do over the years due to financial constraints. Other than that i have also been able to increase my financial support to grandma though with a small margin.
In general, i can say the first loan has taken my business to the next level and without which i believe i wouldn't be where i am. Thank you all for your generous contributions and looking forward for your support in this application as well.
This loan will be used to increase stock to meet the growing demand of my
products. This will allow me to produce in large quantities and benefit from economies of scale. With mass production profit is expected to increase and so is the saving. Increased saving may form a capital base that can assist me diversify into different kind of business in order to minimize industry-specific risks.
The cost will be broken down as follows:
4 Bundles of wheat flour@ Ksh.1500 =Ksh.6000
3 20litres cooking oil @ Ksh.2400 =Ksh.7200
6 Doz of baking powder @ Ksh. 300 =Ksh.1800
10 flavors @ Ksh. 100 =Ksh.1000
Miscellaneous expenses =Ksh.3904
TOTAL Ksh.19904
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Loan Info
Project Type
Classic Loan
Disbursed amount
$199.00
Date disbursed
Dec 31, 2015
Repayment status
On Time
Projected term
6 months
Other loans
Lenders
I want my "My loans" page back, Qatar
United States
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