Banking agency service

Entrepreneur

About Me

I am the first born in a family of five. I have worked before for 7 years as a teacher of ICT and Computer Studies. I realized that what I was doing did not give me room for self employment and i have always had a passion for graphic design. I enrolled for a design course and went ahead to get 1 year industrial experience as a Junior Graphic Designer in a design firm.

While growing up I worked in the family business (bookshop) during school holidays. Therefore getting into business almost came naturally for me. In 2014 I opened a stationery shop and did graphic design on the side. I used gratuity that I got from my job as a teacher. It was $1500 that I used as my capital.

I am a gifted cook in most meals, but I choose to call myself a chapati specialist. I also have a liking for fashion and much of what I wear is thrifted but upcycled and repurposed to fit varied styles I would want to have. In my judgement one outfit should give me at least 5 ways of styling it.

My Business

I run a stationery shop (school, office and personalized. I moved to a bigger office space and I have diversified and included bottled juices, water and milk in a partition of the business. I also run an MPESA within the stationery business. I have of late added Equity and Co-operative Bank Agency banking.

The goods I sell are always in season but the peak is usually when schools are in season which is 9 months in a year.

I chose selling stationery because the goods do not face the challenge of revision as textbooks which make one end with dead stock. Juices, milk and water was to meet the demand of customers who wanted alternative to sodas which are the popular soft drinks. The MPESA provided an 'easy' investment with capability to fit in the same premise without constrain in space.

The costs I incur in running the business is rent, salary, watchman fees and electricity bills. This comes to Kshs. 19700 per month. Though there are also annual fees of licence and accountant fees.

The profits I get I reinvest in the business and a little I set aside for personal development like currently I am working on building my own house.

If I get a loan it will enable me to have enough stock to meet my customer demands especially during the peak period when the supply from suppliers is usually stretched. With enough stock I can also gain from bulk purchasing and start offering sales at a wholesale too.

Loan Proposal

My business has been growing and two banks approached me to offer their agency banking services. This is Equity Bank and Co-operative Bank.

To be in a position to serve my clients well without disappointments of I do not have enough float or cash to honour their needs. I wish to apply for a loan to help in increasing my seed capital for the agency banking.

With the introduction of the agency banking I will be able to make extra $120 per month in profits (commission). The profits (commission) will be ploughed back to the agency banks until I get to $1000 working capital.

Thank you for considering my request and I believe I will be funded because if you look at my previous loans, I have been able to make my payments well ahead of time and with 100% repayment record.

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