Loan to purchase a new computer

Wesley

Nairobi, Kenya

14% repaid

Follow Wesley

How it Works

Entrepreneur

Name

Wesley

Member since

April 2015

On-time repayments

99 installments • 13%

About Me

My name is wesley wilson aged 19 years and I reside in Nairobi the Capital city of Kenya. Born in a family oftwo and raised by a Single mother, I have struggled through hard and thick times to make it in life. I am a second year student doing computer science I am bright, creative and innovative in all i do. The business i have is the greatest breakthrough in my life because it has given me most of the assets i have just from the money i get from it and also it has lessen the burden that my parents had in paying my school fees and now my siblings are all in various schools in our country Kenya. I buy and sell computer accessories and computer services. Computer services comprise of a cyber cafe where i offer services in Internet, photocopy, lamination. I believe that the field i am in will guarantee success based on the trend for the past two years. I believe the business is on a good trend and some support will help the business to go far to greater heights.

My Business

The business is 3 years old .I started it from my own savings and support from Friends and relatives. It is strategically located a few kilometers from Nairobi Central Business District. I started with 2 computers to now i have 4 computers. It has been a great growth and all the credit goes to the favor i have received from People and the grace from God. The money i need is to support my working capital, the business generates ksh 21, 000 equivalent to $260 per month with a net profit of $90. I pay ksh 3,500 for rent and approximately ksh 400 for electricity per month depending on the monthly usage . The profit i get from the business i reinvest it in the business and part of it i use for my school upkeep and i also support my siblings

Loan Proposal

When I get this loan, I'll be able to buy a new computer for my business. This will help my business income rise. The computers I have are few and one server. Buying a new computers will help me serve all customers and it will also help to avoid congestion and Idling where customers are forced to wait till they get free machine.
One complete computers costs ksh 17500 in the current market price.
Though I will be having a deficit of ksh. 8500, I will have to add some amount from my business saving so I can be able to get the computer and doing this will improve my business income raise a lot.