Additional capital to expand mobile food court

Henry Odongo

Langa Langa/nakuru, Kenya

43% repaid

Entrepreneur

Name

Henry Odongo

Member since

May 2014

On-time repayments

53 installments  •  23%

About Me

I am a young, energetic single man.I attend the Presbyterian churches of Kenya in Langa Langa estate around Nakuru town . I took my secondary education at Sacred Hearts Boys high school and later joined Kenyatta University, where I pursued a diploma in human resource management,currently am working at the Kenya power company in Kenya under a contractor as a casual laborer. In order to supplement my income I established a mobile fast food court where i sell fast foods to my customers. I decided to set up this business since most people in the town are busy on the move. This was mainly in line with the course I studied in school where am able to conveniently interact with my customers. From my business returns I have been able to make the business mobile and cover a wide area. I am looking forward to establishing my business and cover an even wider area.

My Business

One year ago I established a small business where I run a fast food court. I sell food to my customers who are always on the move due to job and school commitments. My main customer base involves students who are in the university and employees in various companies. This is because they require fast foods where they eat and head back to their classes and offices since they have short breaks. People who work in major offices also require my services since most of them are usually busy in their offices. The demand for my services has risen since I established my business. This has motivated the need for me to diversify my business into a mobile fast food delivery system. This ensures that I am able to provide my services to a wide variety of customers in different locations within the town. I have managed to open two outlets of my business from the business returns, but this is not enough to satisfy my customer demand. Since I have been able to deliver fast foods to offices and also provide for the student community in the area I have a competitive edge over my competitors. Hence, having more mobile branches to my business will ensure that I am able to provide services to all my customers and also satisfy the demand for my services. In a month I am able to make approximately Ksh. 60,000 while incurring an operating cost of Ksh. 45,000. My expenses include; buying food, electricity bills,rent for my food court, operation licences and water bills.

Loan Proposal

I am humbled and most grateful for the loan extension that has been granted. I am planning to use the loan to supplement the capital and savings I have made from the business. i will use this loan extended to me to expand my mobile food court. This is by buying a mobile food delivery cottage which will move across the town. This is in view of attracting more customers to my food court. Also to ensure that my services reach companies and also students located in different parts of the town. Schools and university students are currently open and this will provide more demand for my services. since they will have class sessions during this season.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.85

Date disbursed

May 27, 2014

Repayment status

Late

Projected term

12 months

Cost to entrepreneur

Lender interest: $150.85 at 11.17% annual rate over 12 months = $17.17

Service fee: $5.43

Lenders

Brian

Midhurst, Canada

mbunifu

San Jose, United States

S

SourceWebDesign

Nieuwegein, Netherlands

Sarasota

Sarasota, Fl, United States

A

ajayhk

San Jose, United States

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