M-pesa float

Entrepreneur

About Me

My
name is David Odhiambo, am a male Kenyan aged 26yrs, I dropped in form
three because I could not get my primary education certificate which I
sat in Uganda, and therefore was time barred. Am singe and a
businessman, I operate small scale businesses that have kept me busy
enough not to engage in unlawful activities as is the case with many
school drop – outs. I started business to sustain myself and am happy
with the decision I took, though I plan to finish high school once I get
the documents and am saving towards that goal.

My Business

I
ventured into business fourteen months after all my efforts to go back
to school proved futile. With little savings and part of the school fee I
was to pay for my final year, I started a mini shop. A year later I
converted the shop into M-PESA which I operate to- date. However, I
don’t have enough float which sometimes results into low business
return. With this loan I will increase the float which will translate
into higher commission. On average I get $127 monthly commission and
another $46 from the sales of Safaricom products such as credit
vouchers, lines and sim swaps, and phone charging.
After paying all the bills am left with $24 as my personal savings. I
will use this plus any other surplus that will come from improved
business to service the loan. As I look forward to owning an M-PESA
agency in the near future.

Loan Proposal

M - Pesa is a mobile money transfer business where people can deposit/withdraw cash using their mobile phones. This business has helped a lot by creating employment and reaching the un-banked citizens who are the majority in this country (Kenya). The transfer of money is done through an agent known as (M-Pesa Agent), I am one of the agents operating in a small and fast growing town of Usenge in Siaya County. Due to the growing population, demand for M-Pesa services have subsequently increased hence requiring an agent to increase the float (e-cash) to meet the customers demand.
With the first loan, I managed to extend my working hours to 2200hrs. This enabled me to serve customers, who might have delayed in their work and want to make M-Pesa transactions. I have benefited a lot from this as my April commission doubled which helped me repay my loan with much ease.
I want to increase my M-Pesa float so that I can serve customers who want to transact larger amount of money this will increase my commission thus improve my life. I will save a portion of the commission for my education as I wish to complete my education. I have a 24months work plan with the aim to increasing my float to a minimum of $2365. But since I cannot get this cash at once, I am increasing it gradually, by Zidisha Loan and re-investing part of my commission in the business. Am therefore humbly place my second loan application for my good lenders to help me achieve my dream by funding my business proposal.

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