Great idea of expanding my electronics shop

Francis Githigah

Murang'a, Kenya

11% repaid

Entrepreneur

Name

Francis Githigah

Member since

May 2014

On-time repayments

250 installments  •  6%

About Me

I am a twenty one year old young man from the central region of Kenya. I started my education journey fifteen years back in a local primary school in Kenya where I successfully managed to pass with flying colors. Five years ago, I managed to secure a place at Njumbi Boys High School where I commenced my secondary school education. My academic efforts finally paid off as I was able to emerge as one of the top students in the school after the final national examinations results were released. This secured me a place in one of the leading universities in Kenya by the name Maseno University situated in the western region of Kenya. Currently I am in my first year of study at the university where I am taking a bachelor’s degree in Business Administration with Information Technology.

My Business

On completing my four years of high school education an amazing business idea came into mind and I decided to give it a try. The urge and the eagerness to venture in the business world was widely contributed by the need to raise enough funds to cater for my university education at the same time to take care of my younger siblings who are currently schooling at local primary school in Murang’a town. My business is all about electronics. By this, I deal in the sale of highly demanded electronic devices which include earphones, extension cables, radio and television jacks, TV antenna, SD cards, flash disks, electric bulbs, switches and sockets, blank CDS and a range of many other simple electronics. One of my shops is situated in Murang’a town near the Murang’a main stage where am able to receive large numbers of customers due to the location of the business. Currently I have hired one person who is taking care of the business while I am away on my academic duties. However, being a business oriented young man; I have opened another similar shop near Maseno University which I have also employed an assistant whom I always join during my part time. The location of my businesses together with my strong commitment and dedication has played a major role in realizing outstanding and encouraging performance in terms of customers and large sales volumes.

Loan Proposal

In the event that lenders find worthy to fund me with approximately one hundred and fifty US dollars, I hope to embark in thorough and well planned expansion of my electronics shop. The first thing that I intend to undertake will be to increase my stock of items such as blank CDs, television aerial cables, earphones, mobile phone batteries and othrs which are in high demand. I am also planning to employ one assistant to help me in the running of one of my shops specifically the one located in Maseno town. As a result of the huge number of customers that my business has attracted.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$149.43

Date disbursed

Jun 9, 2014

Repayment status

Late

Projected term

58 months

Cost to entrepreneur

Lender interest: $149.43 at 6.41% annual rate over 58 months = $46.23

Service fee: $25.76

Lenders

N

Nellie

Wollstonecraft, Australia

J

Jessica

Patagonia, Argentina

J

JandC

Watsonville, United States

juliemartha

Lake Mary, United States

trackpal

Brighton, United Kingdom

Sarasota

Sarasota, Fl, United States

A

Anonymous

United Kingdom

AllieJ

Camberwell, Australia

V

Vivianne

Netherlands

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