Kayole, Embakasi,nairobi, Kenya
230 weekly installments • 66%
i went to school at mukui primary in 1993 and dropped out in class seven due to lack of school fees. Then i was employed as garden helper for seven years up to 2008when i joined Fyko chemical company up to 2015 July when i was rendered jobless due to company retrenchment of employees.i used my hard earned savings to start a business in Tassia estate, Embakasi, Nairobi. While i was in FYKO chemicals company i used to visit a friend who does repair electronics and from him i acquired basic knowledge on electronics repair and maintenance.
I deal with general buying and selling of second hand goods ranging from electronics to furniture, house holds to office equipment, fridges coolers and many more. i also do Phone repair. i also have sound system for hire for small functions such as birthday parties, family meetings and other minor functions
basically my business i located in an area of lower class people who can rarely afford new products such as households and most prefer to buy used items as they are cheaper and are in good condition. I chose this business because i could start it with the small capital i had.
The only costs involved in this business are the county council license and Music Copyright Society of Kenya license because i deal with Audio visual systems. Others are electricity and water bills.
I use the profits realised for the upkeep of my family and plough back whatever remains after my expeses are catered to improve the business
Since my last loan, my business has seen drastic increase in demand of more products. I ventured further in home supplies like smart and digital TV sets (which are on high demand now, and massive returns) and decoders. My cell phone business is going well and also needs a boost to expand my space due to hiring youths from my area who need work and mentor-ship.
This current loan will be used to expand my mobile phone repair business by buying further equipment and inventory, and also add inventory to my household electronic business.
Nov 18, 2018
Cost to entrepreneur
Service fee: $37.21
Credit risk payment: $111.65