Loan to boost my office supplies inventory

Godwin Mshimba

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Godwin Mshimba

Member since

March 2014

On-time repayments

356 installments  •  58%

About Me

I am a Kenya, born 55 years ago. I have worked for the last 30 years as an office machine technician. I am married with four children -one is married and the rest in college.

I was born in Mombasa town and I have spent most of my life here. My business is also located here. I am a well known technician due to my long period in this field. I work with a network of technicians who help do to clear jobs when the demand for my services is high.

My Business

I run a workshop in Mombasa where I repair and sell different types of office equipment. I get my clients from many offices which are in the town and other adjacent areas. My monthly income is about $600.00 and I spend this amount to pay for my rent, school fees, electricity and water bill and other personal expenses.
My business has many challenges especially lack of capital for buying stock and spare parts for the faulty machines.

Loan Proposal

The first loan helped me to dive deeper into supplies business. This is now my main occupation since I found it to be more lucrative and dependable than the support technical work that I was doing before.
However, this area requires a lot of capita since it entails buying and selling at a profit. The demands of my clients have grown exponentially and there is a need to boost my inventory. If granted this loan I will spend it as follows
1. Buy used 3 office printers at a total cost of $150
2. Buy assorted toners and ink cartridges for computer printers at a total cost of $150.
Given my long experience and my technical background, I feel I have an edge over other people in this field and I am sure I will make good returns within a short time.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$289.52

Date disbursed

Nov 3, 2014

Repayment status

On Time

Projected term

6 months

Cost to entrepreneur

Lender interest: $289.52 at 10.31% annual rate over 6 months = $15.42

Service fee: $59.58

Lenders

Pranjal

Noida, Kenya

J

Jessica

Patagonia, Argentina

HE

help each other

Glasgow, United Kingdom

Jouni

Finland

B

BClay

Campbell, United States

basicus

Cairo, Egypt

fairspirit

Utrecht, Netherlands

Generaal

Antwerp, Belgium

B

Bjoernanders

Tromsø, Norway

Lambie

Perth, Australia

A

Anonymous

United Kingdom

Matthieu

Switzerland, France

H

harrymore

Townsville, Australia

xtrahardware

Cazenovia, United States

HealthcareProvider

Baltimore, United States

T

thebonseung

Republic of Korea

Matching Fund

Sterling, United States

Vesa

Helsinki, Finland

P

Philip

Bremen, Germany

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