Add stock to my newspaper-selling business

Mikisi Pepela

Munyaka Silas, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Mikisi Pepela

Member since

January 2015

On-time repayments

132 installments • 64%

About Me

I am 49 years old and married. God has blessed us with two children, a boy and girl. The first one is a boy: his name is Isaac and he has completed class eight, joining form one soon. I have an O-level education and due to financial difficulties I never went to college. I was once employed in a textile company as a knitter, but due to sickness I was forced to quit.

My Business

After leaving my former employment in a knitting company as a knitter due to sickness, I decided to join newspaper vendors in Eldoret Town. I have been selling newspaper for the last three years and my daily profit on the sale of newspapers is 6 US dollars.

I intend to increase that daily income by employing an additional person to sell newspapers, because for the much experience I have had in the business, the higher the sales the higher the income. Thus I plan to open a new selling point within the streets of Eldoret Town and continue selling to boost my income.

Loan Proposal

Dear lender,
Thanks for giving another opportunity to borrow from you. Given funding I would like to say that I will use the 100 US dollars as follows:
- 100 US dollars to invest back in adding more stock for my newspaper business
Thus the proceed will help me pay my children school fees and repay loan also.

Thanks very much for your wise consideration.

Show original English

About Me

My names are Mikisi Pepela,Iam 42 years old ,I come from Western Kenya,Bungoma Town ,but currently leaves in Eldoret Town.Iam married to one wife and two children a boy and a girl.
I was previledged to to be educated up to high school,and due to poverty in our home could not continue to college thus got married and settled down with my wife.
I am a news paper vendor.

My Business

My business is newspaper vending.
I do sell all types of daily newspaper i.e local dailies like ,nation newspaper ,standard news paper,Star news paper,the Nairobian and magazines like the parent ,western start,citizen .
Generally the business is good and currently I have two outlets where I do sell news paper with the assistance of my wife ,thus its family business.
Gross cost of operating the business is approximately 150 dollars a month while my monthly income flactuates from 400 to 450 dollars monthly.
I normally us the proceeds from busines to pay school fees,rent and my family upkeep