Loan to purchase a personal computer for my business

Alfayo

Nairobi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Alfayo

Member since

July 2015

On-time repayments

142 installments • 30%

About Me

I am a young Kenyan part time accounting student and entrepreneur. I am from Western Kenya, where I was born, raised and schooled up to high school level. After completing High school, i moved to Nairobi to find work as I planned to start college. I did some manual labor for a year, using my savings to buy a computer machine and a mobile phone repair toolkit. I then started a mobile maintenance and repair business with some little training I had acquired at a friends shop. This is the main business activity I engage in while living in Nairobi. I'm also a part-time CPA (Certified Public Accountant) student at Kabete Technical Training Center a few minutes from Kangemi, where I live.

My Business

My business involves the repair and maintenance of mobile phones, tablets, and other hand-held devices. Besides servicing and maintenance, I sell SD Memory cards, screen guards and batteries. The business is more service oriented. I load music and videos on the phones at a fee. These services are in demand because, mobile phone penetration is very high in Kenya. Many people have the mobile phone as an important aspect of their businesses and lives. I chose this business because it is financially promising and interesting. Considering the fact that the Nairobi population is mostly youthful, there is an abundance in the market for the business. Monthly, I spend 10,000 (100 USD) on spare parts and stock. I spend an additional 4000 shillings ()40 USD for my Kiosk rent. Repairs and multimedia oriented services bring in averagely 15,000 shillings while spares and items (SD memory cards, Screen guards, batteries) sales yield averagely 18,000 shillings (180 USD). This is approximately Ksh.33,000 (330 USD) gross income coming to a net of Ksh.19,000 (190 USD). I use my revenues to pay rent for the Kiosk, some for school fees of my accounting course, personal effects and I save a substantial amount of the rest (Averagely 6,000 (60 USD))

Loan Proposal

First, I would like to thank Zidisha and my Lender Mr.Paul for the opportunity and trust I was accorded with the funds. The business is doing good. I need a strong personal Computer for computerized diagnosis and servicing of mobile phones. My business currently focuses on repair of phone hardware. I would like to start operating system and applications downloading, installation and maintenance. More people are moving to Android and IOS smartphones and there is a growing market for configuration and installation of phone software. I currently have an old personal computer that struggles to run software like Phoenix Service Software for Nokia Symbian OS updating, repair or installation. Due to this, I miss out on offering services that would add approximately Ksh. 8000 ($80) a month to my income. If given, I will use to buy a strong PC of at least Dual Processor, 4 GB RAM and 320 GB Hard Drive. The PC will cost Ksh. 20,000 (USD 200). This machine will help me capture clients who need services that require the use of the PC to dispense. I will really appreciate the loan.