Marketing local eggs to pay my wife's school tuition
Peter
Thika, Kenya
100% repaid
Entrepreneur
Name
Peter
Member since
October 2014
On-time repayments
257 installments • 23%
About Me
I am 26 year old and married man.Is grew up in Nairobi where i undertook my primary school at Thawabu Primary school.Later i moved to Thika and went to Kigumo Bendera high school for my Secondary school.I taught at Kianjau primary to be able to raise my college Tuition fee and i was able to pursue CPA,currently i am pursuing B.com at Mount Kenya university.I started a Eggs trading business at Kilifi with my one years saving at Kilifi.Later in the year 2013 i was able to move to malindi due to demand.This year in December i moved to Mtwapa where the business has run almost a month.Considering mtwapa is 24 hour economy there is quite a bigger market larger than two areas invested.I like traveling,research and playing football.
My Business
My business came up as a result of realizing scarcity in food commodity at Kilifi.After saving $55 a month in the year 2012 from my salary,i started a stall at kilifi with 100 trays of eggs.The business was challenging at fast as i was marketing it to the locals.After a month it started responding well and i hired one lady and the delivery man.From the business savings and salary i was able to open a branch at malindi in the year 2013.The year 2014 December i have a new branch at mtwapa.The cost of per tray is $3.11 and the selling price is $3.44-3.67 depending with the location.My avarage sales is $6889 a month at Kilifi and total costs are $ 6406 per month.Malindi revenue is $4133 and total cost is $3861.Looking at the avarage performance at mtwapa am looking foward at it being the best branch.My income is used to pay my school fees,my wife school fees and re-investment.
Loan Proposal
I am planning to use my loan to increase my stock by an extra 32trays which will cost $100 and the extra $15 to make a bill board to boost my marketing to new customers.The extra 32trays will boost my profit by an extra $53 a week.This stock is expected to target bigger hotels which make their payments through cheques.In the past i have avoided them since it takes a day or two for their payment cheques to clear and farmers who are my suppliers demand cash on delivery.By acquiring and managing this supplies i will boost my business profile which will enable me qualify for government tenders in the future.Thank you lenders for supporting me this far,it gives me a lot of joy to create employment to my fellow youths knowing it does not only change their livelihoods but those of their families.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$141.00
Date disbursed
Mar 13, 2015
Repayment status
On Time
Projected term
5 weeks
Lenders
Saint Augustine, United States
Austin, United States
Glasgow, United Kingdom
St-Lucien, Canada
Beijing, China
New York, NY, United States
Tremonton, United States
Fontvielle, Monaco, Yemen
Wellington, New Zealand
United States
Hartford, Wisconsin, United States
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Summary
Amount repaid
$148.55
Amount remaining
$0.00
Date repaid
Apr 24, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Mar 22, 2015 | $16.49 | Mar 23, 2015 | $16.49 |
| Mar 29, 2015 | $5.48 | Mar 23, 2015 | $5.48 |
| Apr 5, 2015 | $38.46 | Apr 20, 2015 | $5.49 |
| Apr 24, 2015 | $32.97 | ||
| Apr 12, 2015 | $38.46 | Apr 24, 2015 | $38.46 |
| Apr 19, 2015 | $49.65 | Apr 24, 2015 | $49.65 |
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