Entrepreneur
Name
Stephen
Member since
April 2014
On-time repayments
269 installments • 8%
About Me
I am a Kenyan aged 33 years residing in Mombasa. I was born Eldoret and later came to Mombasa after my Secondary school. I was employed for the first few years upon my arrival to Mombasa and later decided to venture into my own business. I come from a family of 10 – 1 brother and 8 sisters some who are now employed while others are still in school.
My parents are small scale farmers in Eldoret and they rely of support of their children to supplement their meager income.
My Business
I run a music shop in Mombasa where I retail popular music in form of Audio CDs, Video CDs (VCDs) and DVDs. I do my business in an area called Mwembe Tayari in the central business district of the city. I also do small scale duplication of CDs for local musicians and simple computer graphics. I have done this business for the last three years and it is very promising because of the demand for entertainment through music in this area. My monthly net income from this business is $200. The business has potential even to double this amount if I can invest in more machines and more stock so that my clients can have a wider variety.
Loan Proposal
This is my second loan at Zidisha. I used my first loan to buy a printer which has made a big difference in my business. I have seen my profit grow and my clients are now happier because their work gets done faster. I hereby apply for a second loan; this time I want to buy a cd/dvd duplicator. My work entails sale of music duplication of music cds and dvds mostly for local artistes. For now, I do it using my 2 computers which take a very long time to produce since I can only do one piece at a time. With a 1 x 11 duplicator, I will be able to make 11 copies in one run, thus saving a lot of time and increasing my productivity. This machine will cost me about $550, so with this loan, and a bit of my savings, I will be able to get one. I take this opportunity to thank lenders who funded my loan and I now call them again and others do support me on this one too.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$467.00
Date disbursed
Jul 23, 2014
Repayment status
Late
Projected term
61 months
Other loans
Lenders
Bremen, Germany
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