Help me fund my business ventures

Kipngetich Cheruiyot

Kericho, Kenya

100% repaid

Entrepreneur

Name

Kipngetich Cheruiyot

Member since

October 2015

On-time repayments

239 installments  •  84%

About Me

I am a middle aged Kenyan born and bred in Kericho County, Kenya. I grew up in a humble family of 7 siblings where I am the third born. Since my early days in elementary school, I did work hard as my parents struggled to educate me through high school. Luckily, I got the opportunity of joining university and undertook a course in Computer Science. However, since graduating I struggled in getting employment due to high unemployment levels in the country. Nevertheless, I didn't give and decided to venture into freelance writing, research and technical consulting. This has enabled me to earn some income over the years and with better planning, I believe I can tap more online opportunities and grow it into a venture that can employ more young people. I have tried several ventures and some are successful and progressing on well.

My Business

My business basically entails working online on various projects such as freelance academic writing, website creation, online research and recently I have ventured into Forex trading. I would like to expand my involvement in Forex trading by learning more from experienced traders and other expert traders in the Forex market. Unlike academic writing, the Forex market operates 24/7 from Monday through Friday all year round. Therefore, I would like to become a day trader and earn on a daily basis. Recently, I have had an opportunity to open a small retail shop in partnership with someone else, as a result, I am able to supplement my income when online jobs become scarce or the times are tough. In addition to the these ventures, I would also like to invest in seasonal crop farming since its returns are good whilst it requires minimal investment. I would like to borrow a loan to ensure I can be able to increase revenues in these ventures.
I plan to the invest the $ 3, 200 loan as follows:
a) $ 1000 will go into my retail business.
b) Another $1000 shall be invested in my online venntures (Forex trading, Academic writing and congigencies i.e. Internet costs)
c) I plan to invest around $400 in crop farming and agriculture ventures
d) The remaining $ 800 will be used as savings and emergency funds for loan repayment.

Loan Proposal

Hi,

I would like to seek lenders' assistance in raising the $ 960 loan that will be utilized in the following ways:

a) I will put $ 500 into buying stock for a new retail venture that will assist in diversifying my income especially when there is limited freelancing jobs.
b) The remaining $ 460 will be placed into my online freelancing ventures i.e. research work, a little Forex trading and supporting freelance work.

From the investment into these two sections, I expect to increase my monthly revenue and ensure that I create more opportunities for myself and the people around me.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,003.45

Date disbursed

May 31, 2017

Repayment status

On Time

Projected term

6 months

Cost to entrepreneur

Service fee: $42.16

Lenders

Matt B

Stratford Upon Avon, United Kingdom

PG

Paul Graham

United States

Stephan W

Witten, Germany

roark22

Geneva, Switzerland

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

Paul Buchheit

Mountain View, United States

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