Entrepreneur
Name
Samuel
Member since
March 2015
On-time repayments
314 installments • 67%
About Me
My name is Samuel Njuguna and was born on 3rd January 1991 in Nakuru county, formerly known as Rift valley Province. I joined school at Mugwathi Primary School in 1998 and left in 2006. I enrolled at Bavuni Secondary School in 2007 and left in 2010. I stayed at home for one year before joining Tracom College in 2012. While at home in 2011, i reared a calf hoping to sell it a year later and add onto the money my parents would give me as school fees for my college fee. I reared the calf for a whole 11 months and while about to sell it in a month's time it was stolen. My hopes for joining college appeared dashed but my parents struggled to pay the entire fee. I pursued Computer Networking and graduated with a diploma in 2014. Upon graduation, my parents gave me $350 to venture into a business of my choice. I began a beauty and cosmetics shop along Langa Langa street.
My Business
I engage in selling of beauty and cosmetic products for ladies The goods are in demand because ladies all over the world are renowned for loving beauty, thus chose such kind of business. My costs are are as follows:
Rent- $44
Electricity- $6.
Whenever i buy goods worth $100, the sale is usually $200. On average i buy stock twice in a month and therefore my net income is usually $150. I use the profits to save and add more stock to my shop.
Loan Proposal
I will shop for stock from Kampala in Uganda due to low market prices. The goods that I buy for $100 in Kenya cost $80 in Uganda. I have savings that amount to $300. I will add that to the loaned amount and the total will be $368 dollars. Bus-fare to Uganda and back is $30 which is separate from the $368. The expected income is $250 a month on average. It will enable me pay my loan as soon as possible, save more and invest.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Mar 25, 2015
Repayment status
On Time
Projected term
3 months
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