Equipment to improve my videography service

David Waigwa

Mombasa, Kenya

36% repaid

Entrepreneur

Name

David Waigwa

Member since

May 2014

On-time repayments

235 installments  •  25%

About Me

My name is David Waigwa. I was born in Central Kenya where I was brought up. I then relocated to coastal town of Mombasa 15 years ago in search of greener pastures.

I started business as a photographer and through savings, I enrolled for a short computer course to learn computer literacy. I later enrolled for a video editing course where I learned video editing skills using computers.

Through more savings, I managed to buy one computer and a camera which I use to do my videos,work. I combine both still and video coverage that is what gives me and my family our daily bread.

I am married with two children aged - both girls aged 13 and 5 years old.

My Business

My business deals with photography, both still and videos. I also undertake video editing work for other cameramen who do not have equipment or skills to do the job. I have done this work for the last 10 years and I am well known within my area of operation.


I cover functions such as weddings, documentaries and music. I make an average net profit of $350 per month.

I face a number of challenges in my business but the main one is lack of capital to expand the business. The equipment for this job are costly and getting credit locally is a bit hard.

If I get a loan of $150 from Zidisha, I will be able to add this amount to my savings and buy a fast and reliable computer since the one I have is old and cannot support the latest Operating system and video editing programs which are essential in my work.

Loan Proposal

I am now about to implement my second business upgrade after buying a computer with the first loan. I normally hire video accessories when going to do photo or video shoot. Some of the accessories I hire include, video lights, reflectors and tripod stands.

This pushes my production costs very high and it eats up my profit margin. For my work to remain competitive, I need to have my own accessories so as to save on the money that I use to hire out those items. It also means faster service since I am made to wait for those accessories to be available when I need them.

With this loan, I plan to spend the money as follows:

1 . 2 video flash lights at a total cost of $200
2. A tripod stand at a cost of $130
3. 2 reflectors at a total cost of $70

This will go a long way in fulfilling my long held dream of being self sufficient in my work. This will increase the speed at which I do my work and I will be able to serve more clients hence increased profitability.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$420.58

Date disbursed

Feb 28, 2015

Repayment status

Late

Projected term

70 months

Cost to entrepreneur

Lender interest: $420.58 at 1.05% annual rate over 70 months = $25.74

Service fee: $98.23

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