Loan to purchase baking equipment (oven)
Jennifer
Nairobi, Kenya
40% repaid
Entrepreneur
Name
Jennifer
Member since
March 2015
On-time repayments
40 installments • 15%
About Me
I am the 1st born in a family of 6. was not easy growing up because i had to struggle to see myself through college. by God's grace i was able to complete and got a job, the expenses have been more than my income so i had to start something on the side to supplement my income. i have tried several lines before i eventually settled to baking which is my favorite hobby and i enjoy doing. i have been in the business for almost a year now. one of the biggest challenge in starting my business was acquiring the capital i needed for a start up but through savings i was able to get it started.
My Business
I run a bakery business which produces a wide range of pastry products and my major clients are the schools in my neighborhood and the Maternity Hospital. my products are in demand because there is no other baker in close vicinity in the neighborhood. i chose this line of business due to my passion in baking and i also have a diploma in hospitality management from Kenyatta University. the business has relatively good returns compared to other lines that i have tried before.
the major costs include purchase of raw materials, electricity, rent and supply. my revenue comes from the sale of my products. i use the profits to supplement my salary support my family and pay school fees for my siblings
Loan Proposal
I need the loan to top up my savings in order to purchase a new oven for my baking business. the current oven i use keeps on breaking down and it is so inconveniencing and many times am not able to meet client orders. the cost of acquiring the oven is US$277.78. A new oven will increase productivity which in turn will increase my income from the business by over 75% thus i will be able to adequately support my family and create employment opportunities to at least 2 people who will assist me in supply.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Mar 24, 2015
Repayment status
Late
Projected term
9 months
Lenders
Republic of Korea
Hartford, Wisconsin, United States
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