I intend to use this loan to expand my business by buying a new shaving machine,venture more into the business of sellin...

Jonathan Kipruto

Mukuru Kayaba, Kenya

5% repaid

Entrepreneur

Name

Jonathan Kipruto

Member since

February 2014

On-time repayments

264 installments  •  4%

About Me

I am the fourth born in a family of ten children. I was born in Kibera slums and raised until when I finished my primary school education we moved to mukuru kayaba . I joined secondary but unfortunately I dropped out when I was in form three due to lack of school fees. At this point I knew I could not depend on my parents any more to provide for my needs because my young siblings required there support more than I did. So I started doing casual jobs in the Indians factories and after few years I was able to save some money and I started a business.

My Business

i own a barber shop ,it is located in mukuru kayaba. My main services include hair and beards shaving apart from that i also sell some music cds and cassettes. most of the people prefer my services because am very good at interacting with my customers ,i offer them the best services according to their specifications and am also a highly skilled barber as compared to the other barbers around the area. I make an average profit of about Kes 17,000 per month after subtracting all the expenses such as rent water bill and electricity bill.

Loan Proposal

Hi lenders i intend to use this loan to use buy a new shaving machine which costs Kes 4500. i will also expand my music cds and cassettes selling business by adding more variety of music cds this will cost Kes 1500, i also intend to venture into the business of selling and renting video cds and dvds which requires a sum of Kes 5500.
when i buy the new machine i intend to employ an extra barber who will be helping when there are many customers and i will be paying him on commission basis. doing this i will have created employment and also increase my customer handling ability which we lead to more profits as more people will prefer coming to my barber because the waiting ques will be shorter and the service delivery will be fast and of high quality. also increase my stock of music cds and cassettes and venturing into the selling and renting of video cds and dvds will add more profits to the business and also spread risks.
i request lenders to support me so that i can grow as an? entrepreneur and help in the building of my country economy .

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$149.80

Date disbursed

Feb 25, 2014

Repayment status

Late

Projected term

61 months

Cost to entrepreneur

Lender interest: $149.80 at 17.31% annual rate over 61 months = $132.15

Service fee: $26.95

Lenders

EricDWalters

Rochester, Mn, Usa, United States

investor

Candiac, Canada

T

theChad

Perth, Australia

dsmart978

Bondurant, United States

Jason

Auckland, New Zealand

Kenji

Panamá, Panama

B

Bokolo

Leeds, United Kingdom

Sarasota

Sarasota, Fl, United States

Matching Fund

Sterling, United States

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