Entrepreneur
Name
Dennis
Member since
January 2015
On-time repayments
329 installments • 76%
About Me
I was born in Karingari, Nembure sub location, Embu District, now Embu county on 6th January 1991. I am the last born in a family of three boys. I went to Nembure Primary School in my locality and later joined Kangaru School. Due to lack of school fees I was transferred to St Christopher mixed day Secondary School. In 2010, after high school moved to Nairobi where I first worked as a messenger for a real estate management company. After one year I joined hands with my cousin and opened a movie shop in fedha Estate. After some months of poor performance my business partner gave up and wanted the shop to be sold. I agreed to refund him the money he had spent in monthly installments. After several months of struggle I had cleared his debt. The business had already peaked but the worse happened, due to expansion of Outer ring road in Nairobi we were issued with a vacation notice and I had to transfer my business
After that I secured another business room in November 2012 and set up my business, this time round I had made some expansion. I had phone accessories and electronic good like sub woofers. A month later, on December 12th my shop was robbed off everything. This literally paralyzed me. I worked as a free lancer for some months then in 2013 April I started an electronic shop in tassia where I run up to date.
In the year 2016 I set up another business but it was vandalized during the post election demonstrations. Am currently working on another shop in Nairobi Cbd where am dealing with phone spares. Hope all goes well. Thank you.
My Business
I run an electronic shop based in tassia. I sell Phone accessories, bulbs, bulb holders,head phones, USB cables among other products. I also deal with electricals such as wall sockets, wall switches and wires.
So far i have acquired loan five times. With the first three loans i have been able to add more stock to the shop. I purchased sub woofers and DVD players. This has really boosted my monthly income by more than 60%,all thinks to the zidisha team.
I also started dealing with cooking gas cylinders courtesy of the forth loan of kes 43500 with i used to buy complete gas cylinders with gas and also constructed a lockable metallic grill cage for security and display purposes of the cooking gas cylinders.
With my previous loan, which was the fifth one I was able to purchase television sets and some other minor things.
The business is now performing well but I believe with even more stock and variety of products it can perform even better beyond expectations.The market around is favorable for such a business but enough capital is a major hindrance to development
The main costs involved are the licenses and the rent, the others are minor e.g electricity bill. The profit raised is used to cater for my basic needs, take care of my parents, help the needy where I can and use the rest to add some stock
Loan Proposal
If all goes well and am granted this loan, i will purchase 10 pieces Discovery batteries @ $4.5 and the remaining $5 to purchase 15 pieces memory card readers @ $0.32. This will increase my profit and more importantly create a market to the chain of supplies involved. I am certain to state that i expect between 15% to 20% profit increase based on the demand for the products i intend to purchase with the loan.
I have looked for loans else where but to no avail. In banks, the requirements are far above expectations. On the other hand, Shy-locks are ready to give soft loans but their interest rate are extortionate.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Feb 5, 2015
Repayment status
On Time
Projected term
6 weeks
Other loans
Lenders
milano, Italy
Duisburg, Germany
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