Entrepreneur
Name
Michael
Member since
June 2015
On-time repayments
33 installments • 36%
About Me
My name is Michael Otieno,Am a form four liver,Since my childhood i had a dream of being a business man and as i grew up i came to realize that everything in this world need a plan in order for it to succeed.Before i sat my KCSE examination i always thought of coming up with something that will enable me to survive in the outside world and in my mind i did not have any thought of being employed since i knew very well that in this nowadays world thinking of of employment is like wasting your time,With this i had to come up with a proper plan on how i will survive and their was only one way for me and that was opening up my own business,with this i decided to start by growing my own vegetables in order to act as my source of capital since raising enough capital was a problem,After my second harvest i had raised enough which enable me to open up my own business which now has able me to suport myself financialy.
My Business
My business i deal with all vegetables including onions,tomatoes and potatoes,I re sieve this goods from different places where they are being grown in surplus hence buying them at a lower price thus enabling me to earn a favorable amount profit of around $22 in a week,My business is located on a junction,which is near by an Estate, Besides am the only one that offers fresh vegetables and fruits to my customers,Due to this i have manage to have a lot of customer which have created a large number of number of demand than my supplying rate.I decided to start this kind of after realizing how fer people inside my estate go in order to parches fresh consumable goods,And due to this i had to come up with a way of creating life for them easy and at the same time being able to get a quick way of earning money ,At the end of each week i create a new plan for my profits this is to enable me to expand my business,i spend a lot of money in this area in order for me to continue gaining more profits towards the end of every week ,At the end of the month,part of the profits am using it in paying my rent and save the rest.
Loan Proposal
When I get this loan, I'll use it to add stock of fruits and vegetables, that are on high demand in my area. I intend to increase stock of mangoes, apples, potatoes, and bulb onions
I'll use the money as follows:
Zidisha registration fee $ 40
fruites for resale $55
When I add this new stock, to my current stock, I'll be able to increase my weekly profit to around $30. From this profit, I'll be able to save and fund this loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jul 25, 2015
Repayment status
On Time
Projected term
2 months
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