Buying the photo printer/ colour printer

Frank Mageto

Kisii, Kenya

100% repaid

Entrepreneur

Name

Frank Mageto

Member since

March 2014

On-time repayments

289 installments  •  63%

About Me

I Frank Ogega Mageto i was born in 29th October 1984 at kisii county. I am the second born in our family.The family of mr. David Ogega Mageto and mrs. Martha Ogega our family consists four siblings, among them i am the second born. in our family Cliff Okindo Mageto is our first born followed by me, then Levin Nyanusi who is currently doing is bachelors degree at kenyatta university and our last born is Job Mageto who is in form one.
I hold the bachelors of arts in education degree from Makerere University college of Kampala. I am a businessman who is running the multiple business from Mobile banking, cyber cafe, stationery and Berber shop. i started business right from the time i was still at the university, running small scale business in our hostel.
while at college i met Rose and our relationship grew each day until we graduated. after graduation in January 2010, we had little capital from our savings of profits made from the business in college.we rented a single room and comforted our selves and hoping for the brighter morning each and every day.
After which we rented shop in kisii town in kisii county which we are paying $150 dollars a month.
Today we are a blessed with one charming beautiful daughter called Hazel Jerusa Mageto.

My Business

I am running the mobile banking business in kenya (m-pesa) which is worth $2000. cyber cafe which is worth $ 1000 and berber shop worth $800. i have four workers who i pay $ 50 each. i pay my shop rent $150 and eletricity $ 120 and lastly internet for $ 110.
I pay my house rent $ 120 whre eletricity i pay $ 20 , my budget at home is $ 150 and lastly i pay my house keeper $ 40.
my business keeps expanding each amd every month because i don't pay myself salary. so all the profits i return to business for the expansion. I want to grow my business and take it to the next level in couple of years and create massive job opportunities for the majority of unemployed youths in kenya. our business has done well for the past two years because of our dedicated efforts from me and rose.

Loan Proposal

I intend to buy a photo printer / colour printer for the cyber, the photo printer cost
Usd 350/- in Kes is 55,000/- so once i have acquired this photo printer i will be able to print colour staff at a high speed and quality work.
One picture of passport photo is Usd 0.2 and kes20/- 6 by 4 centimeter normally cost Usd 0.1 in kes 10/- and A4 size photo colour costs usd 1/- in kes 100/- and A3 photo cost Usd 1.5/- and in kes 150/- therefore by buying this photo printer i will increase the revenue in one month by approximately Usd 150/- in kes 15,000/-.
Therefore the profit margin will go up and it will be able to save so that in future i will add the saving earned to fund more projects.
Thank for enabling me realize my dreams

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$263.01

Date disbursed

Jul 13, 2016

Repayment status

On Time

Projected term

10 months

Cost to entrepreneur

Service fee: $11.39

Lenders

Craig

Memphis, TN, United States

The Zinc Team

San Francisco, United States

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