To buy computers, tables, and chairs for my cybercafe

David Kairu

Nakuru, Kenya

25% repaid

Entrepreneur

Name

David Kairu

Member since

December 2014

On-time repayments

389 installments  •  39%

About Me

I was born 28 years ago on 9th of September in Kikuyu Constituency in Kiambu County. I enrolled school in 1994 at Nguriunditu Primary Schools and later went to Kahuho Uhuru High School. I later joined college in 2007 at Ricatti Business College and pursued a diploma in Food and Beverage. I did not have enough school fees for my college education and with little savings i bought a calf at $50. My studies were halted and i stayed at home due to lack of fees. I reared the calf and after two years i sold it at $600. I cleared the school fees balance and saved over $250. I started my current business with the savings. The unique thing about the land where i live is that it does not hold water for long, there ensuring that there are no floods. My hobby is traveling.

My Business

I work from my house where I engage in writing and printing services to clients. Most of my customers are university and college students whom I type and print assignments for. The services are in demand because students must go to school, learn and do assignments. I chose the business because it offers continuity and flow of work (Students are in school for many months in a year). I charge charge $0.12 for writing a page and $0.12 for printing. Photocopying costs $0.05 a page. I save on premises costs because I work from my house. My revenue is $10 on average per day. If funded, I will expand my services by renting some space so I can have more clients in addition to the existing ones. I want to operate and run a cyber cafe from where I will serve many clients.

Loan Proposal

Thank you for the first loan that i received. It enabled me expand my business and i moved out of the house where i was operating from to my current business place at a cybercafé. I have three computers and want to add eight more. I also have three tables and six chairs and would want an additional three tables and six chairs. The price of each desktop is $129.2 buying them at a wholesale price and the total is $1033.7. The cost of a table is $22.86 and three tables will cost $68.58. The price of a single chair is $8.57 and six chairs will cost $51.42 (the cost of timber is very high in Kenya). Extension cables and insulated wires will cost $22.5. Eight sockets will be required and each cost $1.68 and hence a total of $13.5. Labor for the entire work will cost $16.9. This will help me serve the high number of customers with ease, who visits my cyber cafe seeking for my services.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,198.48

Date disbursed

Feb 12, 2015

Repayment status

Late

Projected term

90 months

Cost to entrepreneur

Lender interest: $1,198.48 at 5.75% annual rate over 90 months = $513.44

Service fee: $243.05

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