Loan to purchase equipment for my hotel
Michael
Nairobi, Kenya
2% repaid
Entrepreneur
Name
Michael
Member since
October 2015
On-time repayments
32 installments • 63%
About Me
Am a firstborn in a family of five, a father of one and husband to one.
I was born and raised in Mombasa, before relocating to nairobi in the later part of my childhood.
As a kid i always wanted to be an engineer, being an entreprenuer was also something i wanted to be.
I started my business with the help of a loan i got from my self help group which ihave since finished repaying.
My hobbies include watching movies and making friends.
My Business
My business is basically a fast food joint, i prepare and sell foodstuffs such as;
French fries
Mukimo
Pilau
Fish
Beef etc
Food being a basic need means that it will always have demand and especially from people who find it hard to prepare their own meals.
My typical costs include:
rent- $100
electricity bill-$60
county licence-$10
wages-$50
While my monthly revenue usually averages around $500.
I usually re invest most of the profits into the business.
Loan Proposal
With this loan i shall purchase the following;
Oven worth $300
Microwave worth $110
This will enhance efficiency in my joint hence boosting customer satisfaction and profitability.
I expect the profits to increase by 12%.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$419.00
Date disbursed
Mar 7, 2016
Repayment status
Late
Projected term
61 months
Other loans
Lenders
United States
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