Entrepreneur
Name
Shem
Member since
December 2010
On-time repayments
18 installments • 22%
About Me
iam shem ondieki and iam married to one wife with two children aged between 8 and 14 year. they are both in primary school. the older one is in standard eight and will be sitting for the national exam next year 2011. iam determined to make sure that both my children join high school and even join the university.
My Business
i am a capenter. i buy the raw materials which include timber, nails, polish, paint and plywood. i make furniture ready for sale. i sell both whole and also retail. the whole sale ones do better because the customer take many and often making more money. the retail ones sell at a higher price but since one sells fewer ones, the profit is not as much. the price of furniture depend on the specific type of furniture. a bed cost ksh 3500 at retail price and ksh 2500 at whole sale. the material
required to make one bed costs ksh 2000. in one month, i can make about 10 beds making a profit of ksh 15000 if i sell at retail price or ksh 5000 if i sell at whole sale price. the stools give me a profit of ksh 100 per piece and i can sell upto 50 pieces per month at a whole sale price. the seats are usually ordered for in large numbers by those who sell them in their shops. one seat give me a profit of ksh300. the price of a table depend on the type of a table. the small coffee tables with a fine finish cost about ksh2000 at a retail price giving me a profit of ksh 500. there are other furnitures which i make depending on request especially from the shop owners. i therefore need to have the timber ready so that i am in a position to make the furniture on request especially for those who require alot. i therefore intend to buy the timber in large scale so that i am ready for the market especially for those who may need to stock their shops with the school furniture
Loan Proposal
i wish to buy more timber in large amount which will save on the cost. this will enable me to make more furniture at a lower cost thereby getting more profit. many students in new schools are asked to take with them new desks. i will be able to make them ready for them on time if i have enough market.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$260.00
Date disbursed
Dec 24, 2010
Repayment status
Late
Projected term
22 months
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