Name
Michael
Member since
November 2014
On-time repayments
221 installments • 26%
I am the first born son in a family of three children, two sons and a middle daughter. I schooled and performed relatively well. My childhood was as natural as any other though we had hardships which was not uncommon. I lacked interest in education and decided to try my hand in education. My thinking at the time was that not everyone could get a chance to get to university so I opted to try my hand in business. I started out with a retail clothes shop in Nairobi town which relocated to its current location in Kitengela. I recently discovered a niche that is relatively untapped in the industry hence my immediate need to raise capital for the same. Kenya is a land of diversity and even though we are going through some tough times, we are culturally experienced. I have three children, two girls and a son. My first daughter wants to be a teacher, second born daughter wants to be a doctor and my 8 month old son... well he doesn't say much.
I buy materials and have them made into fancy curtains and window blinds. I recently discovered I could do duvet sets complete with matching curtains and its receiving very positive response. On average my business' monthly income is about sh 65,000.00. Out of this amount, I pay out expenses and net an income of about sh 25,000.00. With this new line of business, I hope to increase income by over 100% and net profit by over 80%.
I intend to gradually increase my inventory by buying part of the materials required. I already have samples and so I should be able to go out and sell the inventory that the loan shall provide.
The amount i have applied is way to little for good inventory purchase but I'm willing to start at that amount then grow to bigger amounts.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Dec 3, 2014
Repayment status
On Time
Projected term
3 months
Other loans
Ask Michael a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.