Entrepreneur
Name
Alex
Member since
December 2014
On-time repayments
340 installments • 88%
About Me
My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.
I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.
I made savings which enabled me to open a small electrical shop which I am running to date.
I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.
My Business
My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.
I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This is the main reason why I started this business since I wanted to get a market share of the boom.
I make a profit of about $380 which I use to support my family and also for business expansion.
Loan Proposal
If given this loan I will use the money to buy two boxes of energy saving bulbs. Each box contains 50 pieces at a cost of $150 per box. I have decided to build this stock since the government is currently doing a campaign of replacing filament bulbs with more eco friendly energy saving type.
If successful I will apply to supply these bulbs to a number of buildings in the town and also retail them to domestic users. If all goes well, I will make a profit of $60 which I hope to put back into the business (while still repaying this loan). I am hoping to reap good benefits from this arrangement thus I am anticipating a steep growth of my business in days ahead.
About Me
My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.
I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.
I made savings which enabled me to open a small electrical shop which I am running to date.
I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.
My Business
My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.
I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This it the main reason why I started this business since I wanted to get a market share of the boom.
I make a profit of about $480 which I use to support my family and also for business expansion.
Loan Proposal
If given this loan I will use the money to buy two boxes of energy saving bulbs. Each box contains 50 pieces at a cost of $150 per box. I have decided to build this stock since the government is currently doing a campaign of replacing filament bulbs with more eco friendly energy saving type.
If successful I will apply to supply these bulbs to a number of buildings in the town and also retail them to domestic users. If all goes well, I will make a profit of $60 which I hope to put back into the business (while still repaying this loan). I am hoping to reap good benefits from this arrangement thus I am anticipating a steep growth of my business in days ahead.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$267.00
Date disbursed
Jan 28, 2015
Repayment status
On Time
Projected term
9 months
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