Maize and beans to replenish my cereals business

Loice

Mombasa, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Loice

Member since

July 2015

On-time repayments

152 installments • 18%

About Me

I was born in 1966 in Taita county in a small village known as Werugha in the coastal region of Kenya. I grew up and went to school in the same county up to form four and there after pursued a dressmaking course in Nairobi where I stayed with my uncle. After college I looked for a job but was not so lucky and in the process I got married and moved to Mombasa and this is where I decided to start a business in cereals.

I am blessed with three children of which two have completed form four and are tending for themselves. One is in form three at the moment.

I have always had the urge to excel in whatever i do and thus decided to take up the challenge to do business.

I come from a community where people are very hospitable and generous. The region is worth visiting due to its breathtaking scenery and good habitable climate.

During my free time I like watching movies and listening to music.

My Business

My business deals in selling cereals like maize, rice and beans to mention but a few. I retail in these but plan to wholesale them as my business grows

I decided to run this business because with cereals you will always sell since people however poor they may be they have to eat. So the demand for the same is always there. In short the market is readily available.

I opted for this business because it is easy to run and obtaining the cereals isnot much of a problem only in isolated cases, say, during drought.

My profits ranges between US dollars 200-300 in a month .

I use my profits to e-invest in mu business and also take care of my family welfare and in some instances save a little.

Loan Proposal

The loan will help me buy more cereals , that is maize and beans to add onto my existing stock. This will help me serve more clients as sometimes i fail to meet the demand. I plan to buy two (2) sack s0f 90 Kg @ 30 US dollars each and this will total 60 US dollars, Then buy one and a half bags of maize @ 20 US dollars per bag, this will cost 30 US dollars. The total cost will be90US dollars. The remaining balance of 6.5 US dollars will cater for transport costs.

By doing so i will be able to augment my profits which will in turn boost my business and i can be able to reach more customers. I expect my profits to increase by at least 30% to 40% from the current profits. I also expect this to have an impact on my life due to the fact that my profits will increase and my purchasing power will be better than at the moment.