291 installments • 76%
My names are Beatrice Odhiambo I am 55 years old, Born in Nyanza province.I am the firstborn of the six children in our family. I am married and also blessed with six children. My first four children are already married while the last two are in college and high school respectively.
I was educated up to the old primary school level after I got married and also fortunately by the grace of God I became an ECD teacher I also in 2012 started The business which has really helped me and my family a lot.
I also have a Barbers shop where we cut men's heirs and salon for women heir styling at all seasons. This was begun latter after the first business was launched.
My business is salon business and ECD school,located at Tiri Mbili estate Eldoret Town.I started the business in the year 2012 and 2014 respectively with a capital of US Dollars 280 and us dollars 300.
My monthly cost of running the business is US Dollars 600 while average Gross profit before the expenses is usually approximately US Dollars 500.
The following is how I normally use profits from the business :-
10% I give tithe to the church
70% Up keep i.e food and rent
15% I support my aged mother and two siblings
I will buy 4 new computers to do online studies given that now pupils are not allowed to sit together in one congested classroom due to coronavirus outbreak in Kenya and the rest of the world and the government has directed that for now only online studies will be allowed until the situation is contained and businesses return to normal, for that reason I have already trained all my teachers in this line and the direction the world has taken and as per the government directive, therefore, these 4 computers can still serve this purpose and succeed well.
It will make me conduct online studies due to COVID 19. It will make this learning institution stand tall and compete with others and still make a good profit.
I expect this business to increase by 50% this year but early next year it will 70% if all goes well.
In the coming weeks I will be able to pay the loan amount am given through the on line course I conduct and get the tutorial fees I charge them, This online tutorial teaching and its charges is just as good as the class based teaching and charges ;
I also have salon for hair cutting in the same business premise which pays me well and am well able to earn good profit to enable pay this loan amount am given .
I believe beyond doubt that I will be faithful in paying as scheduled and go to the next level of another loan limit.
Thanks in advance
Aug 1, 2020
Cost to entrepreneur
Service fee: $73.38
Credit risk payment: $110.08