Loan to expand business by opening a cybercafe
David
Nakuru, Kenya
100% repaid
Entrepreneur
Name
David
Member since
December 2014
On-time repayments
390 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
I work from home where i do typing, printing and photocopying for college and university students. Printing costs $0.12. Typing costs $0.12 per page as well. Photocopying charge is $0.05 per page. My plan is to expand the business and open up a cybercafe that will serve my current clients while i target for more. On average, my daily profit is $10 per day. I have $50 in savings and i will add it to the loan so I can have the cybercafe running. The total amount I will have is $150. I am planning to buy 3 tables and 6 chairs at a total cost of $120. I will buy wiring materials and hire an electrician at a cost of $20 to do electrical wiring at the cybercafe. I will buy paint with the remaining $10 and paint the place by myself to cut down on expenses. I expect the business to serve many clients and grow so I can provide employment for other people. I expect the profit to double because I will be serving more clients. Currently I have 3 computers but i near future I would like to increase the number to 10 or 12 computers.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Dec 30, 2014
Repayment status
On Time
Projected term
6 weeks
Other loans
Lenders
Sydney, Australia
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