Purchase milk products to supplement my stock
Gadaffi
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Gadaffi
Member since
February 2015
On-time repayments
141 installments • 89%
About Me
I am the first born in a family of seven. My father died in the year 1991 and left us while we were still young. We had to face a harsh living style with my mother, who was also a peasant farmer. I struggled to complete my O-level education to acquire a little knowledge on how to operate a small business on my own to help our family. When I completed my schooling, I faced a challenge of capital to help me start my business, since I had little skill in business management. I started fishing to get some income and again help my mother raise up my siblings.
After that, I started by first getting a small shop where I would be able to display my products, which I started by first selling our own eggs from home that I got from the hens that we rear. Thereby I got some finance to add my stock by bringing different products like bananas and onions, among other consumable goods, that have maintained my shop up to date.
My business can now help our family, however little it is, and my siblings are moving ahead in their education and have different expectations when they grow up. My hobby is reading novels, more so the ones that talk of entrepreneurship that made me have interest in operating a business.
My Business
My business was started in the year 2014 and I started a shop for eggs, which I obtained from the hens we rear back at home. Due to demand that was rising, I thereby borrowed some funds from a friend to expand the business, since there was high demand for the product but I faced a challenge of low supply due to inadequate capital. Being that I deal with food products, especially the ones that are in daily demand, I increased the stock by introducing the sales of bananas, onions, and maize, among others, because my customers demanded them.
The goods I sell are cheaper in price and affordable to low-income earners who stay in my locality, and again it saves time in terms of preparation for faster meals. For example, one egg goes at a cost of $0.12, likewise to bananas among others. You find out that, at the end of the day, one uses less than $1 to manage a meal for the day. So I found it affordable for my customers. I purchase one crate of eggs at a cost of $2.12 and sell it a cost of $3, making a profit of $0.88, but I purchase around 10 crates. So after two days I am making a profit of $7.86. A sack of banana goes at a cost of $2.20 and sell it at $3.50.
At the end of the day, I make a good profit that can maintain the business and take care of our family. Through the loan that I received, I expanded my business to greater heights, thereby creating more opportunities for other products. I ventured into sales of cereals, adding another stock into my business. I sell maize, beans, and peas, among other consumable products. I also now want to introduce the sale of milk due to the demand from my customers, who frequently ask about the product. Thereby I am posting my application to be assisted with the amount requested to purchase a milk ATM to bring this dream come true.
Loan Proposal
When I get the loan, I intend to purchase a milk ATM, which has been a great dream for my esteemed customers who regularly asked for milk products alongside what I always offer them. Milk products have been of high demand since they are nutritious and many like them. I therefore thought to bring it to supplement my stock alongside bringing in more customers in the business.
Part of the amount requested plus my monthly income will be used in increasing my previous stock to ensure my customers won't lack any products they require from my shop. I will introduce sales of fresh milk and yoghurt, alongside sour milk (maziwa mala), which many like. By doing this, my monthly income will increase by at least 20% compared to what I used to save.
About Me
I am a first born in a family of seven. My father died in the year 1991 and left us while we were still young. We had to face the harsh living style with my mother who was also a peasant farmer. I struggled to complete my O level education to acquire little knowledge on how to operate a small business on my own to help our family. When I completed my schooling, I faced a challenge of capital to help me start my business since i had little skill in business management. I started fishing to get some income and again help my mother raise up my siblings. After that I started by first getting small shop where I would be able to display my products which I started by first selling our own eggs from home that I got from the hens that we rear. Thereby I got some finance to add my stock by bringing different products like bananas, onions among other consumable goods that has maintained my shop up to date. My business can now help our family however little it is and my siblings are moving ahead in their education and have different expectation when they grow up. My hobby was reading novels more so the ones that talk of entrepreneurship that made me have interest in operating a business.
My Business
My business was started in the year 2014 and started like a shop for eggs which I obtained from the hens we rear back at home. Due to demand that was rising, I thereby borrowed some funds from a friend to expand the business since there was a high demand of the product but i faced a challenge of low supply due to inadequate capital. Being that I deal with food products especially the ones that are on daily demand, I increased the stock by introducing the sales of bananas, onions, maize among others because my customers demanded for them. The goods i sell are cheaper in price and affordable to low income earners who stay in my locality and again it saves time in terms of preparation for faster meals. Like in purchase of one egg goes at a cost of $0.12 likewise to bananas among others. You find out that at the end of the day one uses less than $1 to manage a meal for the day. So I found it affordable to my customers. I purchase one crate of eggs at a cost of $2.12 and sell it a cost of $3 making a profit of $0.88 but I purchase around 10 crates almost after two days making a profit of $7.86 once after two days. A sack of banana goes at a cost of $2.2 and sell it at $3.5 at the end of the day I make a good profit that can maintain the business and take care of our family. Through the loan that I received, made me expand my business to greater heights thereby creating more opportunities for other products. I ventured into sales of cereals adding another stock into my business. I sell maize, beans, peas among other consumable products. I expanded my business to engage my customers fully to extent the daily demand like the sale of milk at an affordable price is now available to them through the introduction of a milk ATM I bought from the loan I received last. As at now my business has stood on its own I want extend my help to facilitate the college fee for my sibling who is to join college by September. This is my main reason unto why I am requesting for the loan.
Loan Proposal
When i get the loan I intend to purchase a milk ATM which has been a great dream for my esteemed customers who regularly asked for milk products alongside what I always offer them. Milk products have been of high demand since it is nutritious and many like it. I therefore thought to bring it to supplement my stock alongside bringing in more customers in the business. Part of the amount requested plus my monthly income u do save will be used in increasing my previous stock to ensure my customers won't lack any product they require from my shop. I will introduce sales of fresh milk, yoghurt alongside sour milk ( maziwa mala ) which many like. By doing this my monthly income will increase by at least 20% compared to what I used to save.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$546.00
Date disbursed
Jul 22, 2016
Repayment status
On Time
Projected term
6 months
Other loans
Lenders
United States
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Ondrej Gutten Jul 2, 2017
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