62 installments • 74%
My name is Viona Wambui. I was born in Eldoret in the Rift Valley highlands of Kenya. I was born in a large family of 9 and my parent to make a total of 11. I am child number 3 in the family. I was raised up in a very humble background and I am glad I grew up to adulthood against very serious odds.
I went to primary and then secondary school then moved to Mombasa town to live with cousins while at the same time looking for employment. I got a job at a hair salon. This is something I loved doing despite the fact that I have no formal training in this area. I quit this job after two years due to low pay and decided to open a money transfer business. This was a booming business at the time but the hype died down and the profitability of my business plummeted.
It is at this point that I decided to change business and venture into selling mobile phones and accessories and that is what I am still doing.
I am married with three children aged 8,12 and 16 who are all in school. My dream is to secure my children's future through quality education and serious saving schemes to give them a head-start in life.
I deal with selling of mobile phones and associated accessories. This is the in-thing in town and this inspired me to venture into this area. I operate from rented premises and I have also employed one attendant. I make about @300 per month after all expenses are paid.
I use this money to supplement my husbands income which is the major component of running my family's budget. I also set aside a portion of it (at least 20%) and put it back to the business to make it grow.
If given this loan, I will use it to buy the following items:
Phone chargers at a total cost of $200
Earphones at a total cost of $100
Cell phone batteries at a total cost of $100
Memory cards (SDs) at a total cost of $150
Computer flash disks at a total cost of $ 200.
This stock will increase my sales and translate into more profit for my business. I am anticipating an increase of 10% in profitability if all goes well and since I put back part of the profit back into the business, I hope to multiplier effect to be very dramatic. I just can't wait!
Jan 26, 2015
Cost to entrepreneur
Lender interest: $100.16 at 6.75% annual rate over 4 months = $2.71
Service fee: $1.49