Loan for expansion to new markets

Entrepreneur

About Me

I am Dan Magaga a resident of Mugumoini location in langata, Nairobi county I am from a family of 4: one sister, two other step sisters and a step brother who currently live in western province,Before I continue I want to pay special thanks to the entire Zidisha community for coming with a great idea of helping the small entrepreneurs and may the almighty always bless you. After finishing my O levels I joined college and got a diploma in Business Information systems after which I decided to venture into supplying cosmetics This was after i failed to get a job in my feild of training. With a soft loan that i got from my Father i bought beauty products worth $47 and started supplying them to the nearby salons.since i got them directly from the factory i was able to sell to them at whole sale prices thus securing new customers in my market niche. I started with a small capital but i am proud of my business prospects

My Business

I started this business 2 years ago i.e 2012. when i started this business i had only $47 (ksh4000) a soft loan i had gotten from my father. After missing to get an employment opportunity, i decided to invest the money that i had in beauty products business. Since other entrepreneurs were already in the market, i decided to only purchase my products directly from the company. This was an advantage to me because i was able to sell my products to the beauty salons and beauty shops in my marketing niche at whole sale prices thus beating my local competitors. In order to secure my clients, i ensure i deliver my products at no extra cost provided the Business premises is within langata. Currently my total cost per month is Ksh 15,000 and my total revenue is Ksh 23,000 and my net profit is Ksh 8,700. kindly As Zidisha family I need this money to expand my business. God bless you all.

Loan Proposal

I a small scale business man. Currently am involved in selling Beauty products and also i am involved in computer sales and repairs as a side business. I would invest this Zidisha loan to buy more stock for my beauty products supplies since from this business, I am able to run my side business which is computer sales and repairs. So as to mention both businesses are stable and picking up fast. unfortunately i do not have the financial capability to expand my beauty products supply business. I am of good character and i have never defaulted in payment in my previous loans. There is potential market around Rongai, zimmerman and Embakasi area that i would really want to conquer before other business people invest in the mentioned area.

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