Loan for business printer

Entrepreneur

About Me

I am Martin Obara. I went to Kagwa Primary school in Radieda District and Outering High School, Nairobi, Kenya. I passed my exams. Due to economic challenges in our family, I could not join any institution of higher learning immediately. As a result, I was forced to look for a viable project in my locality and invest in it. The only available opportunity was to work as a cyber attendant in Huruma Estate, Nairobi. I took the opportunity from 2008 to 2012.

During the same period, in early 2012, I joined Zetech Computer College Nairobi and registered as an IT student. I used my savings and my elder brother’s financial support to pay college fees. I am still a student at the college. My brother lost his job. Initially, I thought I would take two years, but that failed given the economic status of our family. I had to call off sometimes in 2013.

We are a family of six, including my single parent, mother. She has no viable business and is elderly. All my siblings are out of school and are employed is some manufacturing firms in industrial area, Nairobi. Their income is relatively low.
Due to the status of our family, I chose to start a cyber café with three computers in 2013 March. The business is profitable. I offer Internet surfing, scanning, typing and printing, lamination, photography, photocopying services. These services are in high demand. I need more capital to generate adequate income. My average cost of running the business per month is $ 150. The average monthly net income is $ 100. I depend on this amount to pay my rent and meet basic needs. I also rely on it to supplement my college fees. I look forward to graduate this year and put more effort in business. The success of my business will ensure I succeed in college and get an opportunity to help my siblings.

My Business

My business is located in Huruma, Nairobi. I started it about two years ago and have seen it grow from glory to glory. When I started, I had three computers. Currently, the business has grown and contributed to the improvement of my economic status. I have four computers, a laminator, camera, and printer.
The services are in high demand. The population of Huruma residents is high. This factor has contributed to my success. For about one year since I started the business, I did not have an efficient printer. I bought the printer at $ 50. The quality of its products is low, which affected my competitiveness. In addition, the printer has no ability to print pictures from camera. I chose to buy an efficient printer at 23, 000 Kenya shillings (about 286 US dollars) on credit terms in June 2014. I have repaid 12, 000 Kenya shillings (150 dollars). I now need help to repay the balance from a lender who I can pay on a weekly basis.

Loan Proposal

I am requesting for loan to repay a loan for my business printer. The loan is expensive and non-flexible. I bought the printer on credit terms to be able to remain competitive. Since I bought it, the business has beem doing better than before. The original loan was Ksh. 23, 000 ($ 286). Since June last year, I have repaid Ksh. 12, 000 ($ 150). The pressure to finish repayment is high, and I am looking for a lender to come to my aid. If I get this loan , I will pay the loan and remain free from stress. I am happy of the service I am getting from the printer and will be happy to repay my lenders as well as agreed.

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