Acquisition of materials for extending my hotel

John Kariuki

Kamwangi, Kenya

100% repaid

Entrepreneur

Name

John Kariuki

Member since

January 2015

On-time repayments

86 installments  •  86%

About Me

My names are John Kamau Kariuki 58 years of old from Kenya. I reside in Kamwangi Estate, 20km west of Thika town. I am happily married to Mary Njeri and blessed with three children, 2 have completed university while last born daughter is a second year student in one of the university in Nairobi Kenya. I am a civil servant and doing business as my part time job. Through savings from my salary I was able to set up a hotel business in my town area. This hotel has attracted lot of customers due to quality food, good customer’s service and good competitive food and beverages price. I have been able to employ 8 workers in that hotel because of the flow of customers everyday. I am planning to offer outside catering in various occasions like weddings, parties, graduations, birthdays and dowry ceremony among others. I have a vision of establishing many other hotel businesses in towns around my area and Kenya at large. This expansion will not benefit me alone with vast vast good returns but will also create job opportunity to many young people.

My Business

Am running a hotel business in Kamwangi town which I started 2 years ago. It was started from a humble beginning with only one bench but today it can accommodate 50 seated customers at ago. This hotel has been experiencing vast growth due to quality food, customer service and reasonable prices. I have been able to employ 8 workers so far. The quantity of food has been also another reason where customer flows due to availability of goods and services. I have cut short expenses by providing some products direct from my farm such as milk, eggs, onions, tomatoes and other horticulture products. This has reduced my expenses with 35% and thus increasing my profit margin. I am planning to expand my services by doing outside catering in various occasions like weddings, parties, graduations, birthdays and dowry ceremony among others and also establishing many other hotel businesses in towns around my area and Kenya at large. This venture will require more money to be realized so am looking forward for a platform to borrow from Zidisha Team.

Loan Proposal

Hello lenders wish to thank you for the previous loan that I obtained from Zidisha platform. This loan enabled me add more chairs and tables in my hotel and brought an increase of sales up 45% compared with past months.

I have an ongoing constructions, a project to extend my hotel due to the current small eating place resulting to congestion of customers. Am therefore applying for this loan as a means to complement my savings so as to complete this project.

If granted this loan, I intend to use it as follows:-
1). Buy 1 metal door at approximately 55 dollars
2). Buy 2 metal windows @ ($ 35 each) = 70 dollars
3). The remaining will go to acquisition of designed steel frames for making hotel counter.
This will enable us ease congestion of customers as well as meeting their demand hence raising our profit margin to approximately 40%.
Thank you in advance for funding my project. God bless you all

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Loan Info

Project Type

Classic Loan

Disbursed amount

$228.76

Date disbursed

Mar 30, 2015

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $8.64

Lenders

JimVandegriff

Trinidad, California, United States

Paul Buchheit

Mountain View, United States

mepster

San Francisco, Ca, United States

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