Business expansion

Victor

Gilgil, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Victor

Member since

July 2015

On-time repayments

199 installments • 63%

About Me

I was born in kiserian in 1985,schooled there in my primary classes to class two,we moved to kamae where i continued with my education to class four.I attended good shepherd academy in Njabini to class 8.i attended Nairobi school for my high school and Kenyatta university there after where I graduated with a bachelor in science lower class.I since was doing casual jobs after i worked in Vision Afrika Sacco gilgil in various capacities but was not satisfied with employment since I had always preferred self employment and also wanted to settle in one town since through out my childhood and youth we had been shifting from one place to another(i have lived in 7 different towns) and that made it hard to have friends and grow my self hence the idea to open up a business where I would settle and improve the town by the quality and the services i would offer .I started my business when still employed in 2012 since i liked technology and knew there was great opportunity in pursuing that.i live in Kenya and our people like communities and that's what I have leveraged in my business since it's a place where the youth can experience different technologies and mingle.am currently single not yet married I think my customers are my kids and they would appreciate if they had all modern technological equipments in there disposal and that's what i aim to accomplish.i like exploring technology in my past time and reading about it.

My Business

my business is called red spot entertainment.currently we just offer gaming services (ps2),photocopying,computer services and sell movies but hope to expand and increase the number of consoles, open up a cyber and a sports viewing center in the near future and later register as a company and venture in more entertainments related businesses. As of now am only operating with three(+ 1thanks to zidisha) consoles but my hall can handle six.am the only one offering such services in my neighbour hood so the demand has been high as shown by my income.in a day i make around Ksh 800($8)minus all the daily expenses,in a month that's around ksh 24,000($240) minus Ksh 3000($30) rent and 2500($25) electricity.I reinvest ksh 5000($50) back to business and am left with ksh 13,500($135).most of this is spend repaying my loans that am almost done with.I am single so I don't use much on myself

Loan Proposal

I intend to increase the number of TVs i have to four to meet the increased demand as business has started picking up.the cost of the flat screens is approximately 150 dollars.i will add the loan to my savings and that will be enough and any other expense.a console is capable of generating Ksh 200 to 300 on its own on a good day and thus more income.i will also be able to have a station for the kids to play simple games rather than the current situation where i have only games for adults that are a bit complicated.and overall be able to repay the loan facilitated to me.

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Urszula Oct 26, 2017

Exemplary repayment track, well done Victor.

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- Victor Nov 30, 2017
  
  thanks Urszula,hope to keep it up.thanks too for the support.
  
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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.00

Date disbursed

Sep 2, 2015

Repayment status

On Time

Projected term

7 months

Other loans

Mar 2016: $321

Dec 2016: $482

Dec 2017: $906

Lenders

Paul Graham

United States

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Victor Aug 18, 2018

hi zidisha team and my dear lenders?hope you all fine.sorry for the delayed repayments and updates.i have been having challenges in business as i was moving from my current premises to another location nearer to our town centre hence incurring an expected expenditure.business too has been slow and the government has increased taxes on almost everything including our licenses.despite the challenges am determined to complete the loan on time.you have there for me and i won't bite the fingers that feed me.thanks for your continued support.

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Victor Dec 22, 2017

thanks for the loan of ksh 91,625.I have received the loan today the whole sum and excited.am in nairobi and will therefore buy the movie collection and the electronics before I head back to business tomorrow.I will update once I have made the purchase.

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Victor Dec 19, 2017

thanks lenders,I almost gave up there but you came through finally.I noticed you've never lend me before and I promise not to disappoint and keep on time repayment rate.this loan has come a little late as I intended to boost my business before the december business boom but better late than never.I'll go ahead and buy the movie stock and electronics as I had intended and hope to make something before the holidays end.the rest of the funds will be used to mantain my ps2 gaming business and any other opportunity that may arise.

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Victor Nov 20, 2017

hi lenders thanks for the loan you facilitated me with,it was of great assistance as i was able to clear the business and i have loan free since then.the remaining funds i was able to boost my business though due to the elections things have been rocky but that to God it's over and we will soon have our next president and hope that come December it will be business as usual.and i would be glad if you would facilitate me again so that am ready come that time.

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Victor Feb 14, 2017

thank you lenders for your assistance .I was able to clear the sacco loan for ksh 31704($317) and acquire a trading license from MCSK for ksh 3350($34).i restocked my movie collection in the hope that by march I would have raised ksh 9000 ($90) to acquire the city council bussiness license for 2017.

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Victor Jan 8, 2017

thank you very much lenders!you always come through for me.
first in line I'll clear the bugging loan maybe tomorrow I'll give you the figures later I can't be sure of the outstanding as of now.the rest of the fund I was hoping either to add up the movie collection and sell some and acquire the business license by the march deadline from the profits.
thank you lenders very much and especially those who started with me this journey,Paul Graham just to mention but a few.I appreciate your trust.

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Victor Dec 26, 2016

first of all i would like to thank all my lenders and the zidisha team for this great environment that you have offered us to help us improve our selves from the 3rd worlds.life here is hard and I know sometimes you may wonder how we survive.i have tried to convince my friends of this opportunity but either due to ignorance they have not been able to play it right.
from the loan I borrowed last of ksh 35000($350),I acquired a business license for Ksh 9000($90) and I have been lucky this year I did not get n trouble with the authorities,police especially.I repaired my broken printer for around ksh 5000($50) and i have able to improve advertisement of the movies that I burn right now am burning around 6 copies daily from around 2 copes.thus an improvement of ksh 200($2)daily.i bought 100 movies for 3000($30) that i have sold all and made a profit of ksh 50 on each on average thus ksh 5000($50)total.i have bought another set of 120 copies that are almost halfway sold.i had also bought gaming pads and bigger flash disks all costing ksh 5000($50) to improve the gaming business and they have paid well and especially this holiday month,I have doubled my income to ksh 1000($10) per day.and that's is partly why I have been able to quickly repay the loan.

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Victor Dec 22, 2016

hi lenders?hope you are enjoying your december holiday alright.i am doing fine though business this year has not been that good as we are heading towards the election in the next year.i also had dental complication this month though am alright though I had to part with a tooth.I have been working hard as always and repaying the loan on time though I had another loan from a local sacco and i have been on alot of pressure from them to clear it that is why i have had to turbo repay your loan and hope when i come knocking i won't be rejected.i was hoping ti have cleared by chrismas and lend again to clear that loan around $295 and hopefully use the balance for more dental check ups and aquire a license for next year.thank for all your support as you enjoy your holiday with your families.

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Victor Jun 11, 2016

How are you lenders?hope fine.sorry for the delayed update on my ventures.I acquired the license though it was delayed a bit up to late April.I started the movie business though it has not picked as I had expected though I can't complain as I have sold some copies though business has generally been low.I repaired the printer but unfortunately it broke down again although it's not as major as the last time but once I have consolidated some funds it will be back up and running.despite all the challenges am still managing fine and I thank you a lot for your financial support.

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Victor Mar 20, 2016

thank all great sponsor for grating this and having faith in me again.first i will for the license then get the back working and while at it get some movies copies.thank you and will be luck in my endevours.

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Victor Mar 13, 2016

current state of affair on 13/3/2016.

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Victor Mar 13, 2016

the broken down printer.

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Victor Feb 20, 2016

hi dear lenders?Am glad that by God's grace am almost completing my loan and seems I might be back at your doors for more.i would be glad that you would show me the same kindness and faith that you had in me.see ya!

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Victor Oct 3, 2015

thanks for the loan.I bought the T.V as I had said a sony bravia 26" for Ksh 15,000 on 8th last month.i have since been able to make at least Ksh 1000 a day up from an average of Ksh 600 a day.I have also been able to accommodate more customers and add a variety of games.the extra am making I wish to repay the loan and acquire another as this seems to be the best bridge to my dreams.

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