Mobile phones and phone accessories

Wilfred Njiri Njamba

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Wilfred Njiri Njamba

Member since

March 2015

On-time repayments

292 installments  •  78%

About Me

My name is Wilfred Njiri, married and with 2 children. Am a Kenyan citizen born in central Kenya in kiambu county where I grew up and lived until I completed my high school. I later moved to the City of Nairobi for my college education. After I lost my job in 2010, I started a small business from my savings .I live in Kitengela, an area that is cosmopolitan where i interact with people from different cultures and backgrounds. The national park is near and at times we happen to see the straying wildlife . My two children a Girl and a Boy gives me challenge to work hard for their good performance in school , one aspire to be a banker the other one engineer, I have love for nature and love planting trees and flowers, I also love reading science news!

My Business

My business is small where i buy and sell mobile phones and accessories. Here in kenya, mobile phones have become extremly necessary because you use your mobile phone to access all banking services, from paying school fees to utility bills to communication and the entire country is connected so the demad is high, from $10 you can afford to buy a hand set and sell it for $14 - $16, so you almost make 50% profit, I wish to continue expanding the business with the lending i get, my profit usually goes to paying school fees, family and business upkeep, my desire is to grow my small business to become big enough to create employment to other people or even become a lender. I wish to thank all the lenders who would wish to fund me and other applicants, you are doing a noble task!

Loan Proposal

First am very happy to have finished paying my 1st loan. I thank the lenders for giving me an apportunity to grow my business and develop financial decipline and planning. The loan that I will get, I will use it to increase my stock and introduce new items. I will buy 10 cell phone power Banks each @ $3 and sell each @ $7. Which means I will get a profi of $4 from each. The remaining balance, i will invest in phones, I will buy 7 - 8 hand sets from $ 9 - $11 each and will make a profit of from $5 to $7 per handset. Which means total profit for power banks will be $40 and that of phones will be $50 to $60 when sold out. This will give me 90% profit. I am confident that this will be possible.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$123.34

Date disbursed

Jun 1, 2015

Repayment status

On Time

Projected term

8 weeks

Cost to entrepreneur

Service fee: $4.87

Lenders

K

Krokslatt

Mölndal, Sweden

Zidisha

Sterling, United States

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