Entrepreneur
Name
Peter
Member since
October 2013
On-time repayments
252 installments • 84%
About Me
am a family man married to one wife and we have three lovely kids two girls and a boy.first born in class three, second born in pre school and the boy just turned two last june. we live in the eastern part of the capital city, Nairobi popularly referred to as eastlands. am in the business of selling greens i.e. vegetables and fruits on small scale in the eastate. professionally am a teacher; i graduated from the University of Nairobi in 2011 and with the limited opportunities in the job market i decided to become an entrepreneur. i have a passion for farming, business and people and this job is in line with my passion and thats the reason i chose to venture into it. currently am saving my earnings with the view of buying a truck in the future to cut transport costs and also aid in the easy distribution of the merchandise.
My Business
i deal in greens specifically vegetables and fruits. i source the goods from the wholesale market in the city or the farmers directly from the farms and resell them in smaller quantities to the consumers and the small hotels. the demand for foodstuffs is high because its a basic commodity and the population here is high. the edge i have over my competitors is the trust i have built with them for the months i have been in operation and i also do home deliveries, infact 60% of my customers don't know where my store is located yet they entrust me to deliver on the right quantities and quality. the business is profitable in that the numbers are there and that with more marketing the numbers will grow. the risks include lack of refrigeration facilities for the perishable goods, high costs of transport costs. monthly costs : 20,000 sales revenue 35,000 Profits 15,000.
Loan Proposal
the loan will be used to add to the stock of goods to what i currently have. this will reduce the number of the trips i make when getting my stock which will inturn reduce the transport costs incurred during these trips. the effect this will have is to increase the profit made which will be ploughed back into the business. at a later stage {2 months time} i will start setting aside a fixed amount every week towards saving for a truck that will eventually save me on the transport and it could also be hired out when am not using it. i also have a short term plan January 2014 to start small scale farming by renting a farm near the city and plant vegetables as this will make me the producer and the seller at the same time thereby bringing down the cost of goods by eliminating middlemen from the chain.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Nov 5, 2013
Repayment status
On Time
Projected term
5 months
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