More stock for my shop and some equipment for my repair shop

Samuel Wangechi

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Samuel Wangechi

Member since

April 2014

On-time repayments

103 installments  •  70%

About Me

I was brought up by a single mother, after sitting for my KCPE(was kept in school by well wishers), my mother was unable to take me to college. I had to do odd jobs like helping people with their baggage, at bus stops, to raise enough money to pay for a mobile phone repair course. this has helped me open a small stall where we repair phones and other electronics. we also sell various accessories. when am not working I like reading electronic eBooks on my computer.

My Business

My business is a stall where mobile phones and related electronics, mostly domestic are repaired. we also stock related accessories like mobile phone chargers, batteries, covers and housing cases. due to the technology growth rate in Kenya, I believe these are gadgets with high demand. since I was a kid, I have always had passion for electronics and hence the choice. Am also planning to seperate the accessory shop and the repair shop, to enhance working environment. In this business the typical costs are, stall rent, local authority permits wages for the technicians and utility bills like electricity. the business also caters for my family, one wife and a kid. currently am not paying any school fess, since my kid is a toddler but am sure in future I'll, hence the need to expand the business. i see this business as a pillar for my family.

Loan Proposal

Now that I have already done the partition, am looking forward to adding some more accessories in my shop, the likes of mobile phone chargers and batteries, electrical accessories(wall switches, mains sockets, lighting bulbs, cables). These items seem to be on very high demand, and I want to grab this opportunity. These items will cost around $190. Also my repair shop requires some more tools and equipment. They are a digital multimeter, rework station and a set of precission screw drivers. These are estimated to cost $100. This totals to $290. With this my lofe and that of my colleague - who assists me will be enhanced, we rely on the two shops to cater for our families. Also our customers will be a happy lot for the services they get. With these items I can project a profit increase of about 20%.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$292.37

Date disbursed

May 13, 2015

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $10.93

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