Increase stock & security for my mobile-phone business
Andrew
Mbale, Kenya
13% repaid
Entrepreneur
Name
Andrew
Member since
February 2015
On-time repayments
171 installments • 52%
About Me
I come from a humble luhya background. I attended muhanda primary school. I worked as a herdsboy to be able to catter for my highschool fees. My father passed on before I was able to stabilize in the start of firm two. Me being the first born son after my sister in a family of four ,I borrowed a bicycle from a neighbor and operated boda boda to catter for food,pens,books and personal items not forgetting food for my family since my father was no more and mum had no job at all. I also applied for Cdf bursary which helped me a lot till I sat for my kcse and passed.
I then joined college and studied electrical engineering (power option) which I also did well. I'm now a self employed person in any electrical contracts and services.
I'm now faring on well. With the last loans that you granted me I've been able to grow in business and in life. I now fend for my family comfortably.
Thanks so much for offering me the loan and I look forward to getting this other loan.
My Business
I started a shop for selling phone accessories in October last year(2014) at Chimoi-webuye.
These goods are so essential since phones are always bound to fail or spoil hence accessories come in handy.
I chose this kind of business since I had some technical knowhow of phones due to the training I got while in college.
Costs come from licenses from the municipality and county government .
Profits are ploughed back into the business for its growth since I don't have kids at the moment.
I have now grown in business because I'm not only selling the phone accessories, I've also added few electronic goods and repair services for phones and electronic gadgets.
Loan Proposal
I will use the loan mainly to increase stock to my two existing shops. One at webuye and the other one at Eldoret.
(200 dollars for phones, 200 dollars for the phone accessories)
I will also use some of the money to make steel doors to reinforce my business over vandalism and burglary especially this being electioneering year in this country. (100 dollars)
Finally buy a new computer for keeping my records and inventory (100 dollars)
This money will be benefit the community because they will be able to get most of their phone products locally. Will also create an extra room for employment. Profits will also increase hence providing comfort in my family
I expect my profits to increase from kes 3000 to kes 5,500 per week
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Loan Info
Project Type
Classic Loan
Disbursed amount
$568.00
Date disbursed
Jun 7, 2017
Repayment status
Late
Projected term
123 months
Other loans
Lenders
United States
United States
United States
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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