Entrepreneur
Name
Erasmus
Member since
December 2014
On-time repayments
32 installments • 81%
About Me
I grew up in Musoma Village in Busia County Western –Kenya.I went to the village primary school before proceeding to a high in the same county of Busia.I joined Kenya Poly in 1992 to September 1995 for Business Administration course, I then joined Trade Winds Aviation Services and worked as a clerk for 17 years before I ventured into business. I started Kerosene business in 2012 and learning that close to 70 % of the people leaving in Kayole where I leave were using the product as their form of energy, the venture had ready market. I would walk on foot going to and from college a distance of 12 kilometres for three years to attend classes.
My Business
I sell Kerosene to the people living in Kayole,the area has a population of almost 200,000 people and 70 percent of the households use Kerosene for cooking and their only form of energy. The product is ever on demand because people eat daily with the consumption increasing when schools are closed and all children are the house, they have to eat breakfast, lunch, evening tea for some families and supper in the evening.
My business has grown and I am currently selling Kerosene to retailers in 200 litre drums which I buy @ $ 112 and sell @ $ 143 making a profit of $ 22 per drum sold besides the 1 litre and even 1/2 litre I sell to customers from poor background
1- litre of Kerosene cost $ 0.56 and when sold @ $ 0.67 making a profit of $ 0.11 per litre as well. The consumption is averagely 200 litres per day but with selling of drums ,it is likely to rise.
Loan Proposal
The loan will be enough to buy 3- 200 litre(600 litres) drum of Kerosene @ $ 112 and sell @ $ 134 making a profit of $ 22 per 200 litre drum and with the increased demand I will be able sell around two such drums or one on a bad day to retailers.I will use part of the profit to pay for my sons education as well as support my family and add more stock of Kerosene drums for the business.
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$285.00
Date disbursed
Jun 20, 2015
Repayment status
On Time
Projected term
3 months
Other loans
Lenders
Newport, United States
Arlington, United States
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New York, United States
Columbus, Oh, United States
London, United Kingdom
Houston, United States
Perryville, United States
Sydney, Australia
Glen Spey, United States
HOMMELVIK, Norway
Taiwan
CORVALLIS, United States
New Zealand
Summary
Amount repaid
$300.05
Amount remaining
$0.00
Date repaid
Jan 12, 2021
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jun 28, 2015 | $21.43 | Jun 28, 2015 | $21.43 |
| Jul 5, 2015 | $21.43 | Jul 5, 2015 | $21.43 |
| Jul 12, 2015 | $21.43 | Jul 12, 2015 | $21.43 |
| Jul 19, 2015 | $21.43 | Jul 19, 2015 | $21.43 |
| Jul 26, 2015 | $21.43 | Jul 26, 2015 | $21.43 |
| Aug 2, 2015 | $21.43 | Aug 2, 2015 | $21.43 |
| Aug 9, 2015 | $21.43 | Aug 10, 2015 | $21.43 |
| Aug 16, 2015 | $21.43 | Aug 16, 2015 | $21.43 |
| Aug 23, 2015 | $21.43 | Aug 24, 2015 | $21.43 |
| Aug 30, 2015 | $21.43 | Aug 31, 2015 | $21.43 |
| Sep 6, 2015 | $21.43 | Sep 11, 2015 | $21.43 |
| Sep 13, 2015 | $21.43 | Nov 7, 2018 | $0.02 |
| Jan 2, 2019 | $0.11 | ||
| Jan 24, 2019 | $1.05 | ||
| Feb 4, 2019 | $1.05 | ||
| Jan 11, 2021 | $19.20 | ||
| Sep 20, 2015 | $21.43 | Jan 11, 2021 | $12.38 |
| Jan 12, 2021 | $9.05 | ||
| Sep 27, 2015 | $21.44 | Jan 12, 2021 | $21.44 |
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