Philip
Sinai, Nairobi, Kenya
$0 to go
100% funded of $296 goal
0
days left
Entrepreneur
Name
Philip
Member since
November 2013
On-time repayments
63 installments • 3%
About Me
I am Philip and second born in a family of 5 children. I reside in Nairobi town and am married and blessed with one child.
I have successfully completed a diploma in hotel hence I am employed at Fala restaurant for more than 4 years. My work involves supervising more than 15 employees.
I started a family snack & soft drink enterprise which is based in Kisii town and it is managed by my wife who has adequate skills and experience but over the weekend I usually assist her .The business involves preparing various kind of snacks then selling them to clients who usually come to our shop but now we plan to start delivery by order as so many clients have been asking for this service.
The profits from business is used for saving with intention to expand the business and also ensure our child has better education in future.
My Business
My family business is based in Kisii town and is called Morat Enterprise and is based along the business of Kisii town.
My business is managed by my wife and she has certificate in snacks and soft drink preparation from Utali college thus she prepares excellent snacks and soft drinks that makes more and more customers to visit our business. Their are very few outlets in Kisii town that offer snacks and soft drinks because most of the people have interest in agribusiness which makes my business to thrive because of high demand and low competition.
My business is expanding at good rate hence average sales is Kshs 78 000 and average monthly expenses is Kshs
67 000 hence average net profit is Kshs 11 000. The profit is being saved to expand the business by introducing new varities and moving to a big place.
Loan Proposal
Am very grateful for zidisha members for supporting my business by giving me a loan to expand my business hence since receiving the loan, I managed to purchase the intended equipments thus being able to meet all of my customers demand. Currently my monthly average profit has increased by 20% hence it will move higher because I have signed a contract with a construction company and I will be supplying them food on daily basis. The contract is for 15 months and they have paid down payment for the first month which I have used to repay the first loan and part of it I want to purchase a big energy stove which will enable me to meet the needs of the construction company as well as the existing customers because the current stove is small and can't enable us meet the demands of all our clients. I kindly request the zidisha lenders to consider giving me the second loan which I will use plus my savings to purchase a big energy saving stove at Kshs 32 500, more plates of Kshs 4 000 and big cooking sufurias of kshs 4800. I will use part of my salary to repay the loan so that the business can expand also incase of getting new contract I will be able to use the down payment given to repay the loan because currently I am in consultation with 2 organizations to oursource my services. I will keep you posted on the progress of my business. Thanks for considering my requests
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Loan Info
Project Type
Classic Loan
Disbursed amount
$296.00
Date disbursed
Jan 26, 2014
Repayment status
Late
Projected term
14 months
Other loans
Lenders
Southampton, United Kingdom
Ipswich, United Kingdom
Canada
France
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