Entrepreneur
Name
Michael
Member since
January 2015
On-time repayments
254 installments • 31%
About Me
My names are Michael Kangethe Kariuki I am 30 years old from Kenya. I am married and blessed with one child who is in class 1. I live in Makongeni estate approximately 5 km east of Thika town. After completing high school I started working as a casual laborer at building and constructions. During my working I managed to save in order to get capital to start a small business. After a couple of years of saving I managed to start a small business of buying and selling mobile phones accessories, the business I am doing up to date. I have always wanted to expand my business but I have been experiencing limitations due to lack of enough capital, therefore if I can find capital from other sources I can realize my business dream.
My Business
From my humble savings I managed to start a small business of buying and selling mobile phones accessories in Thika town. I source these products in bulk from suppliers at a lower price which enables me sell them at a good price and hence increase my sale and profit margin too. I have used the small profit I get from the sales to extend a mobile money transfer service (Mpesa Agent), buying mobile phones and airtime which has boosted my business and have drawn many customers. I will appreciate you, if you can assist me by lending me money so that I can expand my business further and also employ another person.
Loan Proposal
Thank you for granting me previous loan that raise my profit margin tremendously,the demand for mobile phones has increased that making these business more competitive, i want to venture in sale of affordable smart phones to cater for middle income earners and some of these phones are cheap that everybody can afford.
There ready market for these phones especially now we are heading to festive seasons where many people in my region buy new phones.your financial support will help me to achieve my goal.
If granted that money this how i intend to utilize it.
>2 Itel 1407 @ USD 88
>3 nokia 105 @ USD 50
>2 tecno h5 @ USD 90
>3 bird t20 @ USD 53
>3 tecno t360 @ USD 90
>1 samsung 5300 @ USD 65
>1 nokia 605 @ USD 65
>2 galace 7500 @ USD 55
This will increase my profit margin with approximately 40%.looking upon you my dear lenders to fund my project. thank you for your generosity.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$607.00
Date disbursed
Nov 3, 2015
Repayment status
On Time
Projected term
6 months
Other loans
Lenders
United States
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