Stock of electrical items for my small business
Ian Ndirangu
Mombasa, Kenya
14% repaid
Entrepreneur
Name
Ian Ndirangu
Member since
January 2015
On-time repayments
224 installments • 75%
About Me
My name is Ian Ndirangu, born in 1994 to a single mother. i still consider myself as a budding businessman but I hope to start competing with big boys in business very soon.
I have been attending business management courses where I have learned vital lessons about managing cash flow and keeping records. With your continued support, I hope to keep excelling in the field of business.
My Business
My business entails buying and selling small items like handkerchiefs and trinkets. I do this as a part-time business since I am still in college pursuing my an ICT course. I have been in this business for some time now and I have a good number of loyal clients who are my main source of business. Due to the limited time I have for the business, I do it from door to door and I also go to sell in areas where people gather in large numbers like restaurants (if the management is kind enough to allow it) and bus stations.
It is a tough business but I am glad that it brings food on the table, pays for education and even supports my family (my mother and sister ) in a small way. I make an average net profit of about $180 per month since I have few overheads,
With credit support, I know this amount can rise to a higher figure.
Loan Proposal
My business is doing well and I now feel confident and ready to diversify it. I want to add sale of electrical items such as installation cables, wall sockets, bulbs etc. I have done my feasibility study and this is one area that is growing very fast due to rapid urbanization of my region.
I will use USD650 buy an assortment electric cables, USD 350 to buy sockets, bulb holders and bulbs. I will use the remaining balance to buy other small items like wire clips, insulating tapes etc.
This will be a good entry into this business and I am sure it will do well.
Feedback
Positive
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Neutral
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Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,190.32
Date disbursed
Aug 2, 2017
Repayment status
Late
Projected term
137 months
Cost to entrepreneur
Service fee: $47.14
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