Open an office for my online freelancing service
Eliud
Nairobi, Kenya
20% repaid
Entrepreneur
Name
Eliud
Member since
April 2015
On-time repayments
167 installments • 53%
About Me
I am a young energetic entrepreneur who believes in self initiatives for personal growth and development. I hold a Bachelors In Education from Nairobi university and due to graduate in August with a Masters from the same. After my first degree graduation, I took up a job at Lutheran World Federation as an Administrator in Kakuma Refugee Camp, Kenya. During my free time, I used to do Online freelance work that mostly constituted research. I decided to switch fully to this business after my Contract with Lutheran World Federation ended. This is what I currently do. I have been making the steps to formalize and increase productivity in my income generating engagement, utilizing the knowledge and skills I gained from Training and work to gradually perfect the art.
My Business
I run a personal online research business. One of the aspects of the business is gathering of academic material, online tutorials and academic assistance to students. I research and report in various disciplines that include Education, Nursing, History, Business, Marketing, Technology and Natural Sciences among others. For every report generated per research, I get paid a variable cost per page that is calculated by the number of pages, discipline, complexity and academic level of the research. The main resources I utilize is an unlimited internet connection and a laptop computer. The main advantage of this business is that, besides the aforementioned resources, there are no other major resources required, apart from research skills and academic knowledge. Besides regular internet and electric bills, there are no other major expenditures, increasing probability of profit. Typically, I spend approximately Ksh.8000 (90 USD) on associated bills. The income ranges between Ksh.30,000 ($290) and Ksh.40,000 ($380) every month. I use a significant amount of the income for bills and supporting my brother in college. I also manage to save some for future expansion plans.
Loan Proposal
I intend to set up an office from where I will dispense my research services. Currently, I work from the house if am not meeting my client. My help also works from his house and we coordinate over skype, email and social media, when he is not at my place. I have decided to work from an office where clients can come if I can't go to them, as an alternative and for convenience and trust building. I have identified an office at Lumumba Drive, Roysambu that costs Ksh.15,000 a month (Approximately USD. 150). To use the office one is required to pay 2 months deposit and a month of rent. I currently have in my possession office seats, a working table and office stationery. I also have a month's rent. I will use the loan for the 2 months deposit that totals to Ksh.30,000(USD.300). I will also use the Ksh.6000 for the city council business permit. Having a physical and official working location will help me build more trust with my customers. It will also be positive for my work culture, discipline and daily production assessment. With higher trust, I expect referrals from clients for whom I have worked to increase. I will also be able to manage my work well with my help working beside me. I also intend to get a second employee and the work place will be appropriate for a growing team. The lowest I make for a research paper is usually Ksh.8,,000 (USD.80) and an increase in referrals even by one is highly sought after. I look forward to your support. Thank you in advance.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$363.00
Date disbursed
Jul 20, 2016
Repayment status
Late
Projected term
64 months
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