Loan to buy food and exand the clothes business
Benson
Nairobi, Kenya
59% repaid
Entrepreneur
Name
Benson
Member since
April 2014
On-time repayments
67 installments • 51%
About Me
I was brought up in the Western rural community. When my parents passed on, well wishers assisted me to go through my primary and secondary education. I later started a small business in the rural, selling vegetables and other horticultural produce at the local markets. Later, I joined a youth group where I underwent entrepreneurship training. We got financial support that we used to purchase interlocking bricks machine. The project is ongoing and helping many community members.
I started my own business in the suburbs of Kawangware. I offer hostel services to students in the low income earning families. I wish to expand the housing to accommodate more students.
My Business
I operate a hostel service in the Kawangware slums. Many families in this community are mostly single parent. Most of the parents/guardians work as casuals (house helps) in homes in the adjacent Lavington estate. They therefore find jobs which require them to stay at the work place. To find a means to stay for their children who attend school, I offer the hostel services, though the children go to different school in the slums. I have decided to reinvest the profits to expand more on infrastructure and materials required for homework help.
Loan Proposal
I would like to introduce meals to the children in the hostels so that the parents/guardians will not have to pay for food separately from the hostel fee. This will allow smooth running of the hostels and timely activities to attract more students. I will also use part of the money to expand my clothes business which now supplement the income from the hostels.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$141.00
Date disbursed
Sep 1, 2015
Repayment status
Late
Projected term
9 months
Other loans
Lenders
United States
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