36 installments • 53%
My name is Dominic Kengongo a Kenyan citizen staying in Kisumu City near Kibos primary school I am a married person with 4 grown up children. My education background is O’ level. I was employed by Telkom Kenya as a clerical officer due to restructuring of the company we were retrenched in the year 2008.At this period my children were in schools and they needed a lot of resources to bring them up therefore I ventured in to business. At my free time I participate in church activities e g chairing lay council meetings, helping office work and working youths. I like reading especially business journals and news papers and interacting with friends in the social media
My business is registered as a sole proprietor in the Republic of Kenya under certificate number 514520 under the name of SEHKEN ENTERPRISES& WORKS. We deal with consumable goods e g cleaning materials, toiletries and sundries. Being in urban town the demand of these goods are from Organizations, Institutions and Hotels .The main sources of these are retail shops super markets and individual stockist who supply in small quantities. I get these products from the factories at low prices and my over head cost is low because I have one employee. The risks involved are fire, burglary and high taxes e g V.A.T.The profit from the business pay for the wages for one staff ,school fees for my children and up keep of the family. With $150 I will be able to purchase 12 bundles of toilet papers .The 12 bundles of toilet papers will fetch a profit of 35% in the first sale and I normally take one week to sell the 12 bundles. Most organizations and Hotel start their financial in July, the demand for these items are expected to be high. This is the period Kenya government reads the financial budget and therefore all the institutions also start their financial year.
First i would like to thank the support from the previous lenders for their contribution. Thank you all. With this loan i would expand my business coverage as my previous purchase I was able to gain the trust of my suppliers and customers and the demand of tissues papers and serviettes have widen.
With this loan i will expand my current stock of tissue papers and serviettes to serve more customers since the last stock i was able to market my products and the demand of tissue papers and serviettes have widely grown. I will be able to reopen another shop for the new stock and supply of the stock.
Dec 5, 2014
Cost to entrepreneur
Lender interest: $294.53 at 7.44% annual rate over 5 months = $10.23
Service fee: $5.09