4 installments • 25%
I am the last born in a family of six. we are two boys and four girls. I am educated to high school level. I joined school in 1994 and completed my primary education in 2003. I joined majaoni secondary in 2004 and finished in 2007. I got a certificate with grade c. I stayed at home for a while because there were no funds to enable me continue with my education.
In 2010 I decided to open a small kiosk here in malindi. I started with a very small capital of around 70 us dollars which I borrowed from my brother. Things were so hard but because I had a goal, I managed. I was able to repay the money and also sustain my business.
I reinvested my profits and increased my capital to a working capital of around 250 us dollars.
I then decided to move to a bigger room where I am now. Its now a retail shop with many customers. I can pay rents,taxes. sometimes I send some cash to my mother at the village.
I later decided to open a cyber cafe in my area which is very profitable and I have no stress running it. my income has raised to more than 150% and I am planning to make proper branding and also invest more in furniture. By doing this, my customers shall have confidence in my venture and many more will surely come.
I am also planning to launch another branch somewhere in town so as to raise more income.
My shop generates an average of 100 dollars per month. this is obtained from the profits earned from buying and selling if goods. I also charge mobile phones and batteries. my capital is made up of food stuff,household items,kitchen utensils,mineral water,soda,airtime and many other things.
I am also planning to open an mpesa business. This requres a minimum of 10000 us dollars. This business will be so profitable because customers will have the advantage of purchasing goods without necessarily having liquid cash.
customers will be able to have withdraw money and buy items under the same roof. This will save their time and reduce their burden of moving here and there.
we have only one mpesa agent in my area and it closes at 6;00 pm. If I have it in my shop more customers will have access to it because I close my shop at 9:00 pm.
Lastly I need to be buying goods at bulk in order to eliminate middlemen. this will increase my profits by more than 20%. it will also create a super display of products hence attracting more customers.
If I get this loan I will invest in buying maize flour as follows: One bundle of maize flour (packed in 1kgs) estimated at 16 us dollars,one bundle of maize flour (packed in 2kgs) estimated at 16 us dollars,one bundle of wheat flour (packed in 2kgs) at 18 us dollars.These items have very high demand in the market and they will give me very high returns. These returns will help me increase my working capital hence more profits.