Entrepreneur
Name
Joseph
Member since
February 2016
On-time repayments
12 installments • 33%
About Me
My name is Joseph Oumah Okelloh. I am Kenyan 30 years of age, I am currently living and working in Nairobi as data operator. Growing up life was never rosy, born to peasant father and mother in the remote sides of western Kenya. This was largely to the size of my family that is six brothers and one sister and also due to meager resources that was at the disposal of my folks due to their occupation. That though did not deter from achieving my goals to life. See, I only believed that the way out of my predicament was only education. With that in mind I embarked on journey that I one day believed will not only elevate me but also my family from the shackles of poverty. Well looking back now i can see the progress I have made so far but I wish to achieve more because I am yet to complete my college education. My goal is to attain a masters degree in economics but as things stand right now that dream is quickly fading away due to financial restrains.
My Business
I am currently employed so the main source of my income is the monthly salary that my employer accords me for the services I render to him. I also co.own a movie rental store with a partner. The main service is to avail the latest movies and television series to our clients at fee. As we both now entertainment and recreation is crucial part of human wants that's why our services comes in handy to quench this want. We chose this kind of business because the demand for recreation is high, the operating cost is low and largely because the returns are high. The typical cost associated with this business are; the rental costs, electrical bills, transport cost and most important the re.stocking costs. Revenue comes from the rental fee that our clients have to part with to enjoy our services. I channel my profits to my education kitty.
Loan Proposal
As the schools head for their first break in their academic calender. It comes with it myriad opportunities to expand sales. This is due to the high demand that will be created by the students who will be on holiday and seeking recreational facilities. To take advantage of this glorious oportunity, I intend to raise money so as to enable me buy additional empty cds that I will use to burn movies to meet the anticipated demand. The move will exponentially expand my daily output going foward and bolster my daily sales in the process. With increased daily sales there is a projection of increased profits which is a sign of growth and which is the ultimate goal of starting any business. Such projection of growth in business gives me an aura of optimism and the mental strenght to work even harder.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$8.00
Date disbursed
Apr 20, 2017
Repayment status
Late
Projected term
6 weeks
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