Entrepreneur
Name
Felix
Member since
January 2015
On-time repayments
65 installments • 37%
About Me
My name is Felix Makau and I was born in Machakos County on the Eastern side of Kenya. I was born in a rural area where the main occupation is subsistence farming. My parents like everybody else in the area were farmers as well as pastoralists.
I went to school for my primary and then secondary education. I later relocated to Mombasa to pursue a course in Electrical installation but I quit after a few months because my parents could not afford the college fee. With the little knowledge that I acquired in college, I was able to fix small electrical problems in people’s homes and in the process I would make some little money for my upkeep.
I later got a job at a small store for selling electrical items where I worked for two years. Using my savings I started my own store where I sell electrical accessories.
I am married with a two year old child.
My Business
I started this business four years ago. I normally sell common domestic electrical items such as wall sockets, ceiling fans, cables etc. I decided to venture into this area since it is my line of training and I also learned a lot from my previous employer.
I normally get my stock from suppliers and then retail them from my shop. I make a net profit of about $300 per month. My family relies entirely on this business for their sustenance. I am hoping to one day open a bigger store so that I can supply bigger clients.
Loan Proposal
With my second loan, I plan to buy a stock of assorted wiring cables at a cost of 100USD. This is advised by the high demand of these cables due to construction boom currently happening in our city of Mombasa.
I will use another 100 USD to buy a stock of energy saving bulbs and fluorescent bulbs which have proved to be fast moving as well. I will use the balance of about 50 USD for marketing to help me cope with stiff competition from other players.
I am optimistic that this will make a big difference in my profitability and I am hoping to see an increase of about 20% in sales volumes after the injection of this cash into my business.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$276.00
Date disbursed
May 7, 2015
Repayment status
Late
Projected term
12 months
Other loans
Lenders
San Francisco, CA, United States
Switzerland
United States
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