Loan to build my mobile phone accessories inventory

Henry Muya

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Henry Muya

Member since

July 2014

On-time repayments

268 installments  •  81%

About Me

My name is Henry Muya, born in Nakuru County in the Rift Valley region of Kenya. I was born in a family of nine where I am the fourth born. My parent are small scale farmers in Nakuru. I went to local schools for my primary and secondary education and then enrolled in a college where I got training in computer applications and Business management. I have done a course in Accounting here in Mombasa.

After my college education, I was employed to work in a micro-finance in Mombasa where I worked for three years. I later quit my job due to strong desire to start my own business. I started small by starting an mobile phone accessories shop which later expanded to include mobile money transfer which is very popular here in Kenya.

I am married to one wife.

My Business

My business entails sale of cloths and mobile phone accessories and mobile money transfer popularly known as Mpesa. The business is located in Mombasa in an area which is densely populated. I get my stock mostly from Nairobi but I am hoping to start traveling abroad to get them from the source market. My products range from phone chargers, batteries, earphones etc. All these products are very popular with the masses and I am always assured of a steady flow of clients.
On the cloths business i mostly deal with men's shirts and trousers which move so much because of the location of my business
The business is quite profitable and I usually make a net monthly profit of about $400. This business two businesses has potential to yield much more if given much needed capital. I have a strong desire to expand my business but this is only possible if I can access credit facility hence my decision to continue with Zidisha.

Loan Proposal

I spent my first loan to buy an assortment of mobile phone accessories. I would say that this was a huge success since I was able to buy and sell the stock within a short period. This success has attracted more clients with different tastes and demands and I need to increase my stock to cope with this demand.

The business is likely to peak during the coming December festivities. If given this loan I will use it to buy more assorted accessories such as phone covers, chargers, power banks batteries etc. This will definitely go a long way in giving my business the much needed boost.
Thank you.

Feedback

2

None

1

  • Day Family    Apr 25, 2019

    No payment, no contact in 4 months for a large $1,000 loan. Not good.

    Log in to reply • Share


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Loan Info

Project Type

Classic Loan

Disbursed amount

$284.53

Date disbursed

Nov 10, 2014

Repayment status

On Time

Projected term

14 months

Cost to entrepreneur

Lender interest: $284.53 at 3.21% annual rate over 14 months = $11.04

Service fee: $12.57

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