To put toward adding stock of building materials

David M'meli

Nakuru, Kenya

100% repaid

Entrepreneur

Name

David M'meli

Location

Nakuru, Kenya

On-time repayments

2 weekly installments  •  0%

About Me

My name is David Okubasu. I am a site supervisor at construction sites, a business owner and a small scale farmer. I am married with three children.
I was born in a humble background with a lot of hardship which were escalated further by the deaths of my parents when I was at the age of 10. Through difficulties I managed to get through primary and secondary education.
After my secondary education I joined the informal sector since I had no one to sponsor my college education. I worked in farms and specialised in construction sites where I became a skilled worker in block laying, ceramic/Pvc tiles fixing and welding. Ten years down the line I have been operating in the position of a Construction Site Supervisor officiated by the National Construction Authority.
Currently I am working on registering as a Building Contractor having managed to secure the registration of a company in the name of Centra-Fix Renovations Ltd.
At my free time I make it to visit children's homes perhaps to give them hope that there is always a way in life to make it to beat the ODDS.

My Business

Building Materials Supply.
"A thousand miles begins with one step" are not my words. My experience in life has driven me to dreaming bigger and starting small to attain a certain goal. In 2016, I saw an opportunity and decided to open a small hardware store in line with my work. I provided the market for my store because wherever I went to build I'd supply the building materials as well. It picked up well, growing at an estimated rate of between 20%-25%pa, until when the Covid pandemic came in, I decided to relocate the business to Eldoret where I settled my family and so this became a major income generating activity. I am enthusiastic if I add a little effort and more money, this will become a livelihood source of income not only for me but also for my employees.

PROJECT PROPOSAL.
Currently the available stock stands at Kshs.158,100.00. I'm needing a total of Kshs.877,240.00. If I deduct the amount available, then the amount needed shall be Kshs.719,140.00. Now, given the bulkiness of the amount needed, I have decided to split into five fifths each fifth representing 1year as such: Needed amount Kshs.719,140.00 divide by 5years equals to Kshs.143,828.00, the amount needed in the 1st year commencing June 1st, 2022.

Amount for the 1st year. I intend to pay out as follows: Rent ....Kshs. 12,000.00. Licenses..Kshs.16,000.00. Amenities...Kshs. 4,000.00. Workers and miscellaneous..Kshs.26,000.00. Stock addition..Kshs.85,828.00.
With this arrangement, given that the business growth's estimated to be at the rate of between 20%-25%pa, I'm optimistic that the profits accumulated will enable me cater for the loan, increase stock hence reducing the cost of the amount needed in the rest of the years by bigger margins. Another aspect that makes me feel that "I CAN" is the nature of my work. It gives me enough time to supervise my business and provide for my family giving enough room for the business to grow.
With all these, I humbly submit my request to the larger ZIDISHA COMMUNITY for consideration. Thank you.

Loan Proposal

I shall buy more cement to increase my stock in my shop

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$15.60

Date disbursed

Jan 9, 2019

Repayment status

Late

Projected term

4 weeks

Cost to entrepreneur

Service fee: $0.70

Credit risk payment: $2.38

Lenders

Paul Buchheit

Mountain View, United States

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