M-pesa(safaricom money transfer)shop, business
Peter
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Peter
Member since
July 2014
On-time repayments
325 installments • 48%
About Me
I am a 5th year engineering student at Technical University of Kenya from the Maasai community in Kenya, I undertake a business of rearing beef cattle and sheep on a small scale. The reason I started the business is to tap in the vast knowledge that I have in cattle rearing since my people are indigenous cattle keepers hence has been doing it since I was young. My late father and grandfather also taught me how to undertake it. I have managed to change the traditional animal rearing by my grandparents and parents which was only for prestige and source of food to a business venture.
My Business
In addition to my cattle and sheep rearing business, mentioned above and which i used my earlier Zidisha loan to improve, i intend to begin an M-PESA shop (Safaricom mobile phone money transfer shop) to diversify my investment.
The shop will be located at landmawe area in Nairobi, near where I live currently. The capital required is KES 100,000 equivalent of 1176.47 USD. I intend to raise KES 28,850 from zidisha, KES 40,000 from selling some assets (sheep and cattle) and the the remaining KES 31,150 from friends and family.
I will use the above amount to pay rent, 1 staff and buy float (the money used for transfer). If successful, the business will raise between KES 20,000 and KES 30,000 per month. I intend to use the profit to reinvest in the sheep and cattle business.
Loan Proposal
I will use the money to begin an M-PESA shop (safaricom money transfer shop).The shop will be located at landmawe area in Nairobi, near where I live currently. The capital required is KES 100,000 equivalent of 1176.47 USD. I intend to raise KES 28,850 from zidisha, KES 40,000 from selling some assets (sheep and cattle) and the the remaining KES 31,150 from friends and family.
I will use the above amount to pay rent, 1 staff and buy float (the money used fo transfer). if successful the business will raise between KES 20,000 and KES 30,000 per month. I intend to use the profit to reinvest in the sheep and cattle business.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$316.00
Date disbursed
Apr 14, 2015
Repayment status
On Time
Projected term
70 months
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