Entrepreneur
Name
Paul
Member since
January 2014
On-time repayments
21 installments • 100%
About Me
i am 25 years of age ,born i nthe year 1989,i come from a family of three ,
two ladies and i being the only male,i was raised by a single mother who seeing
how hard she worked raising us up has motivated me to work extra harder,i
did my fourth year in 2008 and since i have been doing manual jobs here and
there until i secured a small loan to do a course in phone repair and open a
repair shop,i have expanded it a bit to a phone accessories shop,i am a hard working young man with an am of reaching higher level than the people of my age,i don't depend on employment since i know how to work on my cash to invest for the furture
My Business
In my business we offer specialized phone repair,we also specialize servicing and repair of tablets and sell of mobile phones and a bit of digital cameras ,we also offer free advice and consultation of where and what to consider when buying a good phone .
This services are useful since everyone in this current century is using a mobile handset to communicate and thus a high demand for the repair since they are prone to failure from time to time ,the cheap mobile handset are a catch to the locals who cant afford a smart phone.
i chose this kind of a business since the local majority consist of college kids and the military men who practice a high living standard and from time to time they come for servicing of the smart phones and repair of the same,it is a profitable business since the accessories are readily available and at a cheaper price.
In a good week you can make upto $72.34 from repair alone making it $289.38 in a month ,$113.68 goes to catering for rent for both my house and place of work,$31 goes to paying of electricity bills,$82.68 goes to restocking ,$20.67 insurance premium for the education of my son,$10.33 repaying of the loan and remaining $31 goes to a savings account.
The profits are divide among my family business and a child am supporting form a poor background to see him go through his education,am also supporting kids from my local church with snacks on every Saturday afternoon when they meet for practice.
Loan Proposal
my main aim is to expand my business to fit in the competitive market,i recently invested part of my investment to opening up a small video shop which is doing good and since its a new business i need to invest heavily at least to beat my competitors,the allocation for the loan will be purely to invest on the necessities that are required by the population with the aim of making profit.I am looking forward to your approval
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Nov 25, 2014
Repayment status
On Time
Projected term
8 weeks
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