Mcsheldon entertainment
Solomon
Kitale, Kenya
$0 to go
100% funded of $89 goal
0
days left
Entrepreneur
Name
Solomon
Member since
January 2015
On-time repayments
172 installments • 24%
About Me
I am Solomon Cheruiyot, the third born in a family of eight. I am married and a father of one. I was born and brought in a poor family background. This made my education become very hard but by the grace of God, I managed to complete my Primary and Secondary level with the Help of well wishers and the government bursary. After form four, I went to college where I did Diploma in Business Management. I was employed in a supermarket located in Kitale town as sales representative where I work up to date. From the savings I got from my salary, I started an electronic shop to increase my earnings for better life. I have employed two staffs who assist in the running of the shop. I use the profits and part of my income to pay staffs, rent, electricity bills, pay school fees for my daughter and my younger siblings as well as expand my business. My hobbies are; reading financial magazines, watching documentaries, watching movies and listening to music.
My Business
My shop is located along Kenyatta Street. I deal in; television sets, DVDs, decoders, computers, radios, electricals, antennas, printers, and accessories. I started my business in the year 2011 after saving a capital of $400. Since the shop in the centre of the Town, I enjoy the high demand since most population comes to by their items in town especially electronics. Due to my business skills I have taught my staff on how to relate with customers my business has run smoothly. My total profit incomes amount to about $200. From the profits I get I use in expanding my business and pay my staff. I am aiming in majoring in Laptops and computer sales since Kenyan people have embraced technology.
Loan Proposal
The loan I am applying is to expand the movie shop that I recently opened. I have noticed that production of movies is slower because I don't have enough storages. Therefore I need to buy a bigger storage disk for the downloaded movies to meet the expectations of my customer.
External harddisk costs 8,500 Kenya shillings this will store movies up to 2terabytes and will generate much profit compared to my current one terabyte,at a rate of 20% plus.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$89.00
Date disbursed
May 6, 2017
Repayment status
Late
Projected term
26 months
Other loans
Lenders
United States
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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