Lender Interest: $499.79 at 1.71% annual rate over 12 months = $8.59
Service Fee: $499.79 at 5% annual rate over 12 months = $25.13
Total Loan Cost:
$8.59 + $25.13 = $33.72
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Am a mother of two living in Pipeline, Embakasi which is located 5km from the Nairobi, Capital City of Kenya, two km form the Jomo Kenyatta International Airport.Bringing up children is one thing which I find joy in doing hence I have always engaged with young kids and children.Being at the town, many women are employed hence they need for somebody to look after their children. Due to hard economic condition, most prefer day care services instead of employing somebody full time.
This prompted me to start a day care services for young kids below school going age and within no time they came in large numbers forcing me to expand the small room I was occupying.
This brought about hiring two ladies to assist the overwhelming number of kids which kept on growing day by day.
Day care services led to introduction for an Academy after I trained in Early Childhood Education. Currently am running a private school which is now one year old and the demand for the service is never unending. Day care services are still running which makes my work complete even during weekends when the school kids are at home.
I charge competitive charges compared to other schools nearby bearing in mind that we are located next to the famous Mukuru slums where the living standard is very low therefore high charges in school fees leave many locked out in getting the basic education.
I will buy iron sheets and other building materials and construct the classrooms immediately ready for the new admissions.
I will use the loan to buy desks and chairs for the pupils which at the moment are crowded in their classrooms. I will also expand the classrooms to make sure that the pupils have a good learning environment as the number of pupils is increasing day by day.
Future plans are to source a means of transport which pose a problem whereby many pupils arrive to school late and also to cater for their security whereby they will be dropped at their doorstep.
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