Adding float for my money transfer services business
Gathage
Nairobi, Kenya
$67 to go
0% funded of $67 goal
0
days left
Entrepreneur
Name
Gathage
Member since
March 2018
On-time repayments
9 installments • 56%
About Me
Hello, great people, my name is Stephen. I was raised and brought up from a very humble background. I struggled through my primary and secondary education whereby I would skip classes to look for manual jobs to pay my fees. It was by mere luck that I have made it this far. My story can only be told by my past struggles.
My Business
Through thick and thin, I managed to start a mobile money agent shop which is a peak business in my location. The shop, which doubles up as a general shop, has been my source of livelihood.
The payments are in form of commission per transaction. On average, monthly commission is about Kes 22000, i.e., $220, but purely depends on the number of transactions. The general shop rewards slightly over Kes 15000. i.e., $ 1500, which makes total revenue to about Kes 37000, i.e., $370.00. Costs including rent for the shop totals to about Kes 10000, i.e., $100. The rest is the net income.
Float is what is the challenge because the system works in such a way that what the customer withdrawal from the agent is credited in my account and what the customer deposits is credited from my account. This basically means you need quite a sum of money to facilitate as many transactions as possible thus maximizing the commission. A help in this area will be a highly applauded gesture. Thanks in advance.
Loan Proposal
Hello people, as you may have read from my profile, my loan is purely for the float for the mobile money transfer services. This basically means that the money is not spent but used for the transactions only for the purpose of gaining from commissions. Be part of this journey.
About Me
Halo great people, my name is Stephen,raised and brought up from a very humble background.I struggled through my primary and secondary education whereby I would skip classes to look for manual jobs to pay my fees.It was by mere luck that I have made it this far.
My story can only be told by my past struggles.
My Business
Trough thick and thin,I managed to start a mobile money agent shop which is a peak bussiness in my location.
The shop which doubles up as a general shop has been my source of livelihood.
The payments are in form of commission per transaction .On average,monthly comission is about Kes 22000 i.e $220 but purely depends on the no of transactions.
The general shop rewards slightly over Kes 15000 i.e $ 1500 which makes total revenue to about Kes 37000 ie $370.00
Costs including rent for the shop totals to about Kes 10000 ie $100.
The rest is the net income.
Float is what is the challage because the system works in such a way that what the customer withdrawal from the agent is credited in my account and what the customer deposits is credited from my account.
This basically means you need quite a sum of money to facilitate as many transactions as possible thus maximizing the commission.
A help in this area will be a highly applauded gesture.
Thanks in advance
Loan Proposal
Halo people,as you mau have read from my profile,my loan is purely for the float for the mobile money transfer services.This basically means that the money is not spent but used for the transactions only for the purpose of gaining from commission.Be part of this journey
Feedback
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Loan Info
Project Type
Classic Loan
Amount requested
$67.00
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Margaret Dec 22, 2018
Margaret Jun 6, 2018
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