Introducing M-Pesa financial services

Francis

Thika Town, Kenya

100% repaid

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Entrepreneur

Name

Francis

Member since

December 2014

On-time repayments

112 installments • 63%

About Me

I am a gentleman born in 1982. I completed my secondary education in the year 2002 and gained a grade of B plain i.e., 53% points. Later, I joined Strathmore University to pursue my accounting course and completed up to C.P.A. section 4 where I dropped out due to financial problems. Fortunately, I got employed in 2008 in a transport company called Benjo (k) Limited as an accountant. I am married and blessed with two children, one in 2012 and other one in 2016. From my little savings in my employment, with the help of my wife, I was able to start a motorcycle spare parts shop in a small 10x10 Ft squire metallic container in an estate called Makongeni in Thika town.

My Business

I started my business in the year 2012 with the help of my wife who runs it even today. I got the capital from my small savings of KShs 115,000 whereby I paid advance rent of 3 months of KShs 7,500, i.e., KShs 2,500 per month. I paid for my business license of KShs 5000. We were able to acquire a stock worth KShs 101,000 and paid transport (carriage inwards) of KShs 1,500. Despite the competition and economic inflation, our business has reported growth because the business is able to cater for our 50% of our needs and still be able to add more stock. Stock valuation done in November 2014 is worth KShs 148,000. This makes me proud for the next one year I see myself as a wholesaler, one year down the line as a big importer of the spares. It has been my dream in future to be a big successful businessman.

Loan Proposal

Hello lenders, Due to high competition in motorcycle spares in my area, in cosultation with my business patner, i.e my wife, we have decided to introduce a new business in our business that of providing financial services through mobile phones called M-pesa on a network provided by Safaricom. Since majority of Kenyans use Safaricom lines to transact financial business, we therefore see a business opportunity to make more money beside motorcycle spares. I therefore been given the loan to imediately buy the Line and a mobile phone for the business. I therefore look forward for your financial assistance. Thanks in advance.

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About Me

Am gentleman having completed my secondary education in the year 2002 and gained a grade of B plain ie 53% points. Later i joined Strathmore universty to pursue my accounting course and completed up to C.P.A section 4 where i dropped out due to financial problems. Fortunately i got employed in 2008 in a transport company called Benjo (k) Limited as an accountant. Am married and blessed with two children, one in 2012 and other one in 2016. From my little savings in my employment, with the help of my wife, i was able to start a motorcycle spare parts selling shop in a small 10*10 Ft squire metallic container in an estate called Makongeni in Thika town.

My Business

I started my business in the year 2012 with the help of my wife who runs it even today. I got the capital from my small savings of kshs 115,000 whereby i paid advance rent of 3 months of kshs 7,500 i.e kshs 2,500 per month. I payed business license of kshs 5000. We were able to acquire a stock worth kshs 101,000 and payed transport (carriage inwards) of kshs 1,500 . Despite the competition and economic inflation, our business has reported growth because the business can be able to cater for our 70% of our needs and still able to add more stock. Currently stock valuation done in June 2017is worth kshs 201,000. This make me proud for the next one year i see myself as a wholesaler, one year down the line as a big importer of the spares. It has been my dream in future to be a big successful businessman . This year i successfully introduced new financial services business called M-pesa.