Loan to improve my business buying & selling music discs
Jonah Serem
Eldoret, Kenya
100% repaid
Entrepreneur
Name
Jonah Serem
Member since
August 2016
On-time repayments
70 installments • 74%
About Me
Am Jonah Se-rem a father of one boy and a lover of music, i was born and raised in Eldoret to a family of peasant farmers, My childhood was full of mixed challenges with prayers and help from relatives i manged to complete my education, i studied at uasin gishu primary and high school, i schooled at Eldoret polytechnic with a diploma in music production.
After school i did not like staying home idle i tried to search for a job but i did not get a chance, i tarmacked for several months until one day i got a space in a friends music shop to work as a assistant in selling music Cd's.
I later managed to save money and started my own shop in a different position in town, I now sell music Cd's and i focus on gospel music because it has a better profit.
Most people in my community focus on farming due to plenty of land.
My hobbies are fishing and pets.
My Business
I buy and sell music disks, i buy from local artist and sell in my store and a times i sell walking on the streets in order to advertise and make more sales.
i buy a single disk at 50 KS and sell at 100 KS making a profit of 50 KS from every disk.
I sell an average of 15 disk a day and make a profit of 750 ks a day which i save for rent use for food and family upkeep.
Loan Proposal
I will use this loan to stock my shop, I will budget for empty disks, new songs, advertising the shop, and employ someone to do distribution in town.
I hope to double my profits, educate my brother and improve the business.
Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$187.32
Date disbursed
Jan 11, 2017
Repayment status
On Time
Projected term
10 months
Cost to entrepreneur
Service fee: $7.72
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