Entrepreneur
Name
Mike
Member since
April 2014
On-time repayments
91 installments • 78%
About Me
I AM THE SECOND BORN AND THE ONLY SON IN A FAMILY OF FIVE. I COMPLETED MY SECONDARY EDUCATION IN 2004 AND SHORTLY AFTER JOINED THE KENYA ARMY CURRENTLY KNOWN AS THE KENYA DEFENCE FORCES. DURING THE LAST ONE YEAR, I HAVE BEEN IN A PEACEKEEPING MISSION IN SOMALI WHICH HAS BEEN ONGOING FOR QUITE SOME TIME NOW. I RECENTLY CAME BACK TO MY BASE IN LANET AND HAVE DECIDED TO PURSUE FURTHER EDUCATION SINCE I HAVE A LOT OF TIME TO SPARE. DURING MY FREE TIME, I ENJOY WATCHING AND PLAYING FOOTBALL, BEING WITH FRIENDS AND FAMILY AND HIKING. WITH MY SAVINGS FROM THE MISSION, I WANT TO UPGRADE MY BUSINESS WHICH IS A PUB LOCATED IN MIGORI. I DECIDED TO OPEN THIS BUSINESS IN 2011 TO AID ME IN PAYING MY SIBLINGS SCHOOL FEES SINCE MOST OF THE TIME AM AWAY ON MISSIONS.
My Business
MY MONTHLY SALARY IS 400DOLLARS. MY BUSINESS BRINGS IN ROUGHLY 625DOLLARS DEPENDING WITH THE SEASON SINCE MIGORI IS A TOWN WHICH IS INFLUENCED BY SUGARCANE CULTIVATION. DURING A GOOD MONTH, I MAKE A PROFIT OF 210DOLLARS. MOST OF THE MONEY GOES TO THE LOCAL LICENSE LIQUOR WHILE I PAY A RENT OF 44DOLLARS. THE ALCOHOL BUSINESS IS QUITE PROFITABLE CONSIDERING YOU CAN BUY A BOTTLE OF LIQUOR AT 4DOLLARS AND SELL IT AT 6.25DOLLARS. MY LOAN REPAYMENTS WILL BE MADE USING MY MONTHLY SALARY SINCE I WILL BE USING THE PROFIT FROM THE BUSINESS TO PURCHASE MORE DRINKS i.e WATER,SODAS,ALCOHOL AND JUICE.
Loan Proposal
To increase the stock i.e purchase more alcohol
if i purchase one box of viceroy at 10 dollars it will give me a profit of 25 dollars in a day. lenders should support me so that i expand my business and ensure the products are available for the customers.i in future if the business goes well i would want to expand my business by starting another retail shop that deals with the same.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
May 7, 2014
Repayment status
On Time
Projected term
5 months
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