Entrepreneur
Name
Timothy
Member since
July 2013
On-time repayments
45 installments • 11%
About Me
MYSELF
I am Timothy wanjala wanyonyi, born on 15th December 1984.i am a high school graduate, Christian an ambitious energetic youth willing and working hard to achieve his goals have gone through many challenges in pursuing my education but through determination and hard work I have managed to complete my high school.
I do face a lot of challenges but I never give up in what I do.i love my life and I want to see that I sail in to successful life love people with great ideas who have positive impact in myself like being busy and try so hard to create opportunities that can take me to a much greater level that can make me be role model to others. And above all I love God because he gives me all the courage and hope in whatever I do.
My Business
My business
I am running a hotel business based in amagoro town of busia county.
It’s a sole proprietor type of business that I started with a capital ksh.50000.
AIM
My major aim of starting this business was to venture into a world of competitive and productive system. Business being profit oriented, my strategy is based on that.
Starting was not an easy thing, I faced a lot of challenges and I do face them up to date. Some include;
-lack of enough capital to start
-stiff competition from people running the same type of business
-insufficient security, where by your business premise can be broken and properties stolen
-price fluctuation of prices of the goods makes it difficult to determine and stablelise the hotel food prices.
-Weather changes has an impact of nature and type of food I do sell
-religion also has a negative impact on the food the people do eat.
End results
Though I encounter a lot of challenges, my net profit at the end of the month ranges as from ksh.7000 to ksh.11000
Loan Proposal
Being a hotel business and facing a lot of competition from other people who are running the same business.i would like to add value into my services.
This loan will help me buy -;
1.buy water glasses and plates to replace the use of plastic ones.
2.buy more tea cups to cater for my customers.
3.buy some seats to replace the use of benches to improve the comfort of my customers.
4.increase the number of cutlery.
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$99.00
Date disbursed
Aug 3, 2013
Repayment status
Late
Projected term
45 months
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