Help me grow my hotel reservation business!
Kipkoech
Embakasi, Kenya
100% repaid
Entrepreneur
Name
Kipkoech
Member since
May 2014
On-time repayments
164 installments • 52%
About Me
My name is Muttai Kipkoech and I live in Embakasi, Nairobi. My hometown is Eldoret, Kenya. I am married with two children. My career course is Tours and Travel Management. I also have a passion for foreign languages and can speak French. Currently, I am the Managing Director of The Big Five Adventure Safaris. I worked as a Tour Consultant at a tour company in Nairobi for a year before I decided to start my own tour company. I have always believed that I could do much more self-employed rather than employed. This way I hope to eventually help others through employment opportunities! Someone once said; ‘You will never be rich working for someone else!’ Thus the reason I quit my job to start my own company and do business.
My Business
I am venturing into the business of clothing. My business, Tracque Suits, will specialize in men's fashion, particularly slim-fit suits. I have done a market research in my home-town Eldoret and realized that a few clothing shops specialize in men's slim-fit suits which are now fashionable and in demand as they are the preferred official dressing during functions like weddings. I therefore see a business opportunity in selling men's slim-fit suits and accessories since I will buy them at a wholesale price in Nairobi and sell them at retail price in Eldoret at a profit. The initial costs are the starting capital to buy the stock and pay rent. I intend to use the profits to reinvest and grow my clothing business.
Loan Proposal
With your help, I will you the loan as an addition to my start-up capital hence paying for the hotel accommodation cost for the clients. My loan request amount is $562.
I am in the Tours & Travel business. My company mainly specializes in tours and safaris as well as hotel reservations. Primarily, we deal with hotel reservations, mainly Nairobi hotels whom we have signed contract rates with. We have a contract with an international online hotel reservation company which sends us clients. We then reserve and pay for the client's stay with the contracted rate but charge the supplier company with the marked-up rate. The supplier company then pays us at the end of each month.
This is how we get our income and how we will repay the loan. Being an online service business, and the world rapidly becoming a global village, this business is indeed viable and profitable as it needs less overheads to operate. With the loan, we will use is as start-up capital to pay for the hotel reservations and repay it in monthly installments. I have managed to pay for some bookings with my own contributions but now that the business is picking and we are receiving more clients, I really need your help. I am therefore exploring the possibility of securing a loan to develop my company.
For more information about what we do, please visit our website on http://thebigfiveadventures.wix.com/thebigfiveadventure
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
May 19, 2014
Repayment status
On Time
Projected term
7 weeks
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