Entrepreneur
Name
John
Member since
August 2017
On-time repayments
30 installments • 67%
About Me
I'm the first born in my family and my parents are not that able.I completed high school by God's grace.
After high school it was not that easy.I have to look for a job to help my parents.I traveled to Nairobi to look for a job.It was not easy to find a job.
My uncle gave me a little capital to start a business.This helped me a lot.I started a small barber shop.Customers really boosted me.Due to the large number of customers ,i have to expand but currently i don't have enough money for expansion
My Business
I started with kshs 15000 that i received from my uncle.From the beginning it was not easy until customers started coming.I used to raise kshs 5500 per month.Rent was kshs 1500.I Have to save little and as time went customers get used to me.I started raising something good to send to my parents.
at the moment my business is able to raise a profit of kshs 15000
Due to the current situation of Covid 19 my business has not been affected much. In fact i'm planning to open another modern barber shop at South C. I have already done market research and i'm trusting that i will be able to perform well.
Loan Proposal
My loan application comes at a time where we are facing covid 19 pandemic. At this time their is lock down in some areas including capital city of Nairobi. Movement is also restricted in certain areas.
After market research i realized businesses are doing normal in some areas especially where i'm planning to put up another barber shop. I'm optimistic that it will work out given the population in that area.
We are putting on all protective measures as lad down by the government.
I predict my business profit will increase by more than 2500 per week
Income Source
Its true many businesses have been affected due to covid 19. As a result many people are at home. In my area many people are trying all possible means to make ends meet.The large number of people who are at home gives more opportunity for businesses to grow in certain areas.
I'm comfortable taking loan because the other business is also doing well. The little extra money set aside can help me repay the loan comfortably.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$87.00
Date disbursed
Jun 4, 2020
Repayment status
Late
Projected term
3 months
Other loans
Lenders
Germany
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