Help me grow my hotel reservation business!

Kipkoech

Embakasi, Kenya

100% repaid

Entrepreneur

Name

Kipkoech

Member since

May 2014

On-time repayments

164 installments  •  52%

About Me

My name is Muttai Kipkoech and I live in Embakasi, Nairobi. My hometown is Eldoret, Kenya. I am married with two children. My career course is Tours and Travel Management. I also have a passion for foreign languages and can speak French. Currently, I am the Managing Director of The Big Five Adventure Safaris. I worked as a Tour Consultant at a tour company in Nairobi for a year before I decided to start my own tour company. I have always believed that I could do much more self-employed rather than employed. This way I hope to eventually help others through employment opportunities! Someone once said; ‘You will never be rich working for someone else!’ Thus the reason I quit my job to start my own company and do business.

My Business

I am venturing into the business of clothing. My business, Tracque Suits, will specialize in men's fashion, particularly slim-fit suits. I have done a market research in my home-town Eldoret and realized that a few clothing shops specialize in men's slim-fit suits which are now fashionable and in demand as they are the preferred official dressing during functions like weddings. I therefore see a business opportunity in selling men's slim-fit suits and accessories since I will buy them at a wholesale price in Nairobi and sell them at retail price in Eldoret at a profit. The initial costs are the starting capital to buy the stock and pay rent. I intend to use the profits to reinvest and grow my clothing business.

Loan Proposal

With your help, I will you the loan as an addition to my start-up capital hence paying for the hotel accommodation cost for the clients. My loan request amount is $562.

I am in the Tours & Travel business. My company mainly specializes in tours and safaris as well as hotel reservations. Primarily, we deal with hotel reservations, mainly Nairobi hotels whom we have signed contract rates with. We have a contract with an international online hotel reservation company which sends us clients. We then reserve and pay for the client's stay with the contracted rate but charge the supplier company with the marked-up rate. The supplier company then pays us at the end of each month.

This is how we get our income and how we will repay the loan. Being an online service business, and the world rapidly becoming a global village, this business is indeed viable and profitable as it needs less overheads to operate. With the loan, we will use is as start-up capital to pay for the hotel reservations and repay it in monthly installments. I have managed to pay for some bookings with my own contributions but now that the business is picking and we are receiving more clients, I really need your help. I am therefore exploring the possibility of securing a loan to develop my company.

For more information about what we do, please visit our website on http://thebigfiveadventures.wix.com/thebigfiveadventure

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.00

Date disbursed

May 19, 2014

Repayment status

On Time

Projected term

7 weeks

Lenders

Sarasota

Sarasota, Fl, United States

AllieJ

Camberwell, Australia

Aaron85

Knoxville, United States

Ask Kipkoech a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Judith    Feb 23, 2017

    Hello Lenders,

    I have spoken with Kipkoech and he said will clear the arrears on 28th February 2017.

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  • Judith    Nov 24, 2016

    Hello Lenders,

    I have just spoken with Kipkoech and he said he will clear the arrears on 1st Dec 2016 which will be on Thursday.

    Thank you.

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  • Judith    Sep 25, 2016

    Dear Lenders,
    Kipkoech Mutai called me back and told me he will pay his arrears on 30th sept 2016.

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  • Judith    Sep 23, 2016

    Kipkoech Mutai i not answering my calls. I therefore called his community leader Daniel who said wil get in touch with him and let me know .

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  • Kipkoech    Jun 23, 2016

    Dear Lenders, sorry for delaying in repaying my loan. This is due to an unavoidable circumstance but I shall pay my outstanding balance as soon as I can. Thank you for your understanding.

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  • Judith    Feb 8, 2016

    Dear Lenders,

    Kipkoech said he will pay the arrears tomorrow 9th Feb 2016.

    I will follow up on that

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  • Judith    Nov 24, 2015

    Hello Lenders

    I spoke with Kipkoech and he said he had some issues but will pay today for the 3 weeks he had not paid.

    I will follow him up again to find out if he paid.

    Regards

    Judith - VM

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  • Judith    Oct 2, 2015

    Hello Lenders,

    I called Kipkoech in regards to the 2 weeks he has not paid and he promised to pay tomorrow 3rd Oct when he comes back to Nairobi because now he's at home.

    Thank you

    Judith - Volunteer Mentor

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  • Kipkoech    Jun 29, 2015

    Dear Lenders! I am pleased to inform you that I used the loan to buy stock for my suits business as proposed. I used the money to buy the below suits for my Tracque Suits business.

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  • Kipkoech    Jun 27, 2015

    Dear Zidisha & Lenders,

    Thank you for your support through the loan that was disbursed to me a couple of weeks ago. I used the loan to purchase suits for my Tracque Suits clothing shop. I will be posting the pictures of the suits soon. However, since it is a new business and it is slowly picking, the income is still low and that is why I would like to adjust my weekly installment. I will be increasing my installment as my business picks and as sales increases. Thank you for your understanding.

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  • Kipkoech    Jun 13, 2015

    Dear Lenders! I am happy to inform you that today my loan of 23, 910 KES was disbursed. I am excited to begin my business and I will be going to buy the inventory next week. I will be sure to update you on what I bought with the money. Thank you once again for your support.

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  • Kipkoech    Jun 12, 2015

    Dear Lenders!

    Thank you so very much for funding my loan! Thank you for giving me the opportunity to venture into this clothing business. The loan will help me increase the inventory for my new business. I will use the loan to buy more slim-fit suits. I promise to keep you updated on the progress of the business.

    Once again, I sincerely thank you!

    Muttai Kipkoech.

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  • Kipkoech    Jun 4, 2015

    Hello Dear Lenders!
    Sven E Mannheim, Scaevola, Captain, BernadetteV, geobuk, and Ejackson, Christy CMK71, goodwithoutgod, timnj, hulte, zidishap2p, treyh, mguenter, AllieJ, thebonseung, vortex, Aaron85 and Tom44. I thank you all for funding my previous loans. I am appealing for your support again in funding my current 4th loan application to raise working capital for my new slim-fit suit clothing business. I look forward to your support. Thank you.

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  • Kipkoech    May 29, 2015

    Dear Lenders! I thank you sincerely for funding my previous loans. The loans have really made a positive impact in my life and my family. I just applied for my 4th loan which I intend to use to buy stock for my new clothing business, Tracque Suits which specializes in men's slim-fit suits. As always, your support will be highly appreciated. Thank you!

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  • Kipkoech    May 17, 2015

    I need to change my repayment schedule so that I can reduce the period for repaying the loan and therefore apply for another loan.

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  • Kipkoech    May 4, 2015

    At last I got to visit upcountry and pay a visit to my mum and the entire family. Her Kiosk is doing well as she used the money from Zidisha to buy stock for her small Kiosk. She sells basic household food stuff like sugar, salt, cooking fat, exercise books etc. She hopes to expand her business and build a much bigger shop in the future. Here are some pictures from the visit. She asked me to thank the lenders for the loan. So lenders and Zidisha...'THANK YOU!'

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  • Kipkoech    Dec 18, 2014

    First, I thank the lenders for their support on this business cause. I am happy to report that I traveled upcountry to my rural home to visit my parents. That is where my mother's Kiosk is located. She managed to buy stock for her shop and she says it is picking though slowly. This is the reason I am rescheduling the repayment schedule to enable her manage to pay the weekly installments as the business picks up. Thank you for your understanding.

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  • Kipkoech    Nov 12, 2014

    Thank you Zidisha. My loan was disbursed yesterday. On behalf of my mother and myself, I would like to thank all the Zidisha family. The work to make Glory Kiosk a supermarket has just started! Thank you!

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  • Kipkoech    Nov 5, 2014

    I can't believe my loan has been fully funded in a few hours! Thank you Zidisha! My gratitude goes to all my lenders; Sven E Mannheim, Scaevola, Captain, BernadetteV, geobuk, and Ejackson. Thank you and merci beaucoup!

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    • Scaevola    Nov 5, 2014

      Cool! Looking forward to the results :)

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      • Kipkoech    Nov 5, 2014

        Thanks Scaevola! I will surely keep you updated on the progress and results! :-)

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        • BernadetteV    Nov 5, 2014

          Wishing you and your mother every success so that this project can bring you both more business.

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          • Kipkoech    Nov 5, 2014

            Merci beaucoup BernadetteV! I dream of that day Glory Kiosk will grow into a supermarket! Thank you for your support!

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  • Kipkoech    Nov 4, 2014

    Dear Lenders! Thank you for your support in my previous loans. I just posted my third loan which I intend to use to support my mother in increasing her kiosk stock. Her shop is called Glory Kiosk. Thank you for your support in funding my loan.

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