Entrepreneur
Name
James
Member since
July 2011
On-time repayments
23 installments • 43%
About Me
i am a kenyan citizen aged 27, married, holding kenyan certificate of secondary education mean grade C+. i operate i single shop at KITI estate in Nakuru town. i have running it for the last 4 years.
My Business
after completing my secondary education back in the year 2005 my parents loan sponsored me with 10,000 shillings that i used to buy maize grains from December of that year through to April 2006. over that period i was able to buy and sell about 120 bags each of 90 kg of maize. i would use a family bicycle to gather the product in makongo village where i grew up. initially i was able to buy 5 bags and later sell them to brokers who took them to other districts. for every bag , i got a profit of kshs 500. as time went buy i managed to buy between 10-15 bags a week making a maximum profit of sh 7500 in two weeks. as time went by supply decreased and by april there was nothing to trade. in the close of my trade period i had accumulated net profits amounting to 50,000 shillings. from January 2009, i had joined a a co-operative society namely Njemtaka that has offices in the neighbouring village called Munanda. i was able to contribute 3500 per month. in May the same year i took a loan of ksh 30000 and together with my savings, a started a kiosk(small shop business). after operating it for nine months at the time i completed paying my loan, i took another loan of kshs 80000 in the year 2010 and relocated my business to nakuru town, KITI estate where i am experiencing a higher turn over. i have so far completed paying the loan and i am still a member of the co-operative. however their interest rate is higher ie. 12% per annum and therefore i would prefer a loan from Zidisha. if given a loan of kshs 50000 and top up my savings of kshs 30000 and use the sum to buy grains during this harvesting season, bulk-break and later retail to my customers. i am intending to buy maize and beans as the most popular grains. my shop has enough space to stock atleast 10 bags of each. a 90kg bag of maize from the farmers cost is ksh 3000 and that of beans cost kshs 4000. and the rest for transport. on average each bag of maize will earn a profit of sh 800 and that of beans shs 900, and the profit may improve as the supply diminish in the market. i look forward for a positive response
Loan Proposal
If given a loan of kshs 40000 and top up to my savings of kshs 30000, i would then use the sum to buy cereals during this harvesting season, bulk-break them and later retail to my customers. I am intending to buy maize and beans as the most popular grains. my shop has enough space to stock at least 10 bags of each type of cereals. 90kg bag of maize from the farmers cost is ksh 3000 and that of beans cost kshs 4000(a variety called "kawairimu" locally).By the time i will complete the purchase my business will cater for transport. On average each bag of maize will earn a profit of sh 800 and that of beans shs 900, and the profit may improve as the supply diminish in the market.My objective is that by the end of year 2011,i shall have least eight varieties of cereals for trade including green grams varieties which are a main common component of kenyan meals.I intend, in the same period, to retail more flour. I look forward for a positive response.
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$454.00
Date disbursed
Aug 15, 2011
Repayment status
On Time
Projected term
12 months
Other loans
Lenders
Southampton, United Kingdom
Sarasota// Phnom Penh, United States
Hong Kong, Hong Kong
*, Afghanistan
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