Loan to build a new classroom

Renson

Karama Market, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Renson

Member since

February 2015

On-time repayments

182 installments • 40%

About Me

I am 33 years of age born and brought up in Runyenjes, Embu County in the Eastern part of Kenya. I went to Muragari Primary School, then Muragari Primary School before proceeding to ST Marks Teachers College in Kigari where I graduated with a P1 teaching Certificate.
I started teaching practice in 2005 in various schools but the conditions were not very favorable for my personal growth. 3 years ago, I partnered with Mr. Charles Mwongo (the chairman of Shiners Academy) to start a kindergarten school. The turnout has been very good and particularly this year, we do not have enough space to host the pupils. The success of the business is a great inspiration for me and I look forward to be the best education service provider in the region. I am a resilient person who believes in handwork, prayers and commitment in anything I do.
I am married with one wife and a son. During my free time, I like reading in the library, having fun with my family or attending church services.

My Business

The Academy ( Shiners Academy) started in 2012 with 40 kids but we’ve grown to over 300 pupils as at Aug 2018. Mainly we offer normal day teaching classes to kids from the neighborhood and also offer remedial practice in the evening for needy pupils. We charge school fees of $30 per term, getting a gross of around $4500 in one term. After deductions the school makes around $1800 profit in one term (3 months). The school has 11 teachers plus the two directors (I and chairman).
Last year, we got registered with tge government to register the school because the performance for the kids is very good. If I got funded, I'd use the funds to build new classes that will reduce congestion in the school. I will be able to accommodate more kids and the school will have a stronger foundation.

Loan Proposal

Dear Lenders,

After i got my first loan, I was able to build two new classrooms. This way, I was able to accommodate more pupils in my school and this translated to more revenue. I was able to clear my loan on time and had some money left to cater for my expenses. I intend to build one more classroom and use some funds to buy more books for the pupils. I believe this will double my revenue and cement my commitment to the parents and guardians who have brought their children to my school. I will pay my loan with ease, pay my expenses and save the rest in the school kitty.

Regards,
Renson