Improve mpesa (mobile banking) float/cash

Entrepreneur

About Me

I am Weldon Kiplangat, 24 years old and 4th born in a family of five. I am a resident of Ngata estate; outskirts of Nakuru town.. I am graduate of Diploma in Business Management from Kenya Institute of Management studies (KIMS) and currently working part time as a Sales agent for Airtel Kenya.
To supplement my income I have established an M-pesa outlet where I also sell fast moving goods especially snacks at Ngata centre.
I have a great passion for investment especially in mobile banking industry.

My Business

To supplement my income, I have established an MPESA (mobile banking) outlet at Ngata centre- located about 10 KM from Nakuru town. I also sell snacks and other fast moving goods within the same oulet.
I basically perform mobile transactions for instance, cash deposits and withdrawals while earning commission from them.The location is strategic due to high traffic in the area- boosted by students from the nearby college (Rift Valley Institute of Science and Technology). However, due to high demand for liquidity in the mobile banking business, my outlet is often limited by low float/cash levels.
The outlet has a huge potential and I can only grow to exploit.

Loan Proposal

Since my outlet attract good number of clients and due to high demand for liquidity in the mobile banking business, my outlet is often limited by low float/cash levels.
The potential is high especially during this festive season where there is high level of activity requiring good cash flow. I will therefore use $90 in improving cash/float levels and the remaining $10 in re-branding the outlet by painting it.
The increased profits will help me expand my business- by introducing other businesses that can easily match for instance, sale of mobile phone accessories within the same outlet as well as pay back the loan with ease.

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