Equipment for my cybercafe business

Sam Odoo

Nairobi, Kenya

38% repaid

Entrepreneur

Name

Sam Odoo

Member since

August 2014

On-time repayments

137 installments  •  7%

About Me

I'm a passionate freelance writer and researcher but I'm currently working towards investing in an alternative source of income that will supplement my online business. I was born in Ndhiwa District, Homabay County, but I live in Ongata Rongai,about 22 kilometers from Nairobi. I began my online business immediately after graduating from Egerton University in 2011. However, I have been saving funds to start up a small cyber-cafe business in Ongata Rongai township. My internet-cafe that will offer a wide range of differentiated services.

My Business

I intend to start Cyber cafe business will offer a diverse range of services some of which will include but not limited to the following;
-Faster internet services
-Instant Digital photography services
- Photocopy services, Typesetting T-shirts printing etc.
-Stocking and sales of books, bulk printing materials, writing materials

Additionally, since I have always been working from home as an online writer, I intend to use my proposed cyber cafe as my office which will enable me to better manage my research writing consultancy.
Ongata Rongai is a thriving business center hosting many academic institutions and campuses in the neighborhood. The high population in the locality will provide a viable market for my business.
The risks involved include potential stiff competition from established similar businesses in the area. However, I intend to counter this through service differentiation. I currently make an average of $600 per month and I will be able to repay my loan even before my business will be able to be self sustainable.

Loan Proposal

I intend to use the requested loan to purchase a refurbished 3 in 1 printer for my proposed Internet cafe business at a cost of $ 100 . The remaining amount will go towards purchasing between 6 and 8 plastic chairs each at approximately $8. I have already purchased a few items such as an internet router and 4 desktop PCs using my personal savings. I still remain with some more savings from my online writing business and I'm counting on the loan from Zidisha to supplement the remaining deficit.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.52

Date disbursed

Aug 28, 2014

Repayment status

Late

Projected term

32 months

Cost to entrepreneur

Lender interest: $150.52 at 11.70% annual rate over 32 months = $46.74

Service fee: $14.27

Lenders

Brian

Midhurst, Canada

valentin

Stockholm, Sweden

Erica

Caledon, Canada

Zal0m0n

Atlantis!!!! x), Mauritania

Sarasota

Sarasota, Fl, United States

T

thebonseung

Republic of Korea

Matching Fund

Sterling, United States

S

stryker75

United States

LouisB

ZIDISHA, Mozambique

J

JessicaAna

Maputo, United States

ToddTho

World Wide, United States

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