Entrepreneur
Name
Thomas
Member since
December 2014
On-time repayments
278 installments • 65%
About Me
My name is Thomas Mwanza and I have a passion for making a difference in my local urban community. I believe that if every person contributes positively to the society, our world will be greatly improved in no time. In addition, I know that sacrifice is the reason for a better tomorrow. I was raised and educated up to college level in the rural areas of Eastern Kenya before relocating to the city in search of work. Since I could not secure a formal job, I opted to work in a barbershop as an assistant and saved some money with which I began my own business. Beginning the business was not easy since I had to skip meals to save some money . In the end, I was able to accumulate enough money because I was patient. In my culture there is a wise saying that: little by little fills the drum, and I completely agree with it.
My Business
My business is a barbershop where I offer the service of shaving people according to their desired styles. The reason for getting in to this business is because it was my hobby since childhood. Demand for barber services is constant and I always have customers. I am particularly good in relating with customers in addition to shaving them excellently so I have many new and return customers. The typical costs I incur in this business are related to buying shampoos, rent, electricity bill, and salary for one assistant. These costs are usually lesser than the income I get. Therefore, I will get money to repay the loan in timely manner.
Loan Proposal
I will use this loan to introduce personal shaving products in my barbershop. I have learned that most customers require quality shaving products to use at home and in institutions. This will ensure my customers avoid skin problems associated with poor shaving. To start i will buy buy stock worth 120 dollars. I expect the profit to increase by 30 percent which will be very helpful.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$88.00
Date disbursed
May 9, 2017
Repayment status
On Time
Projected term
8 months
Other loans
Lenders
Germany
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