Entrepreneur
Name
Abubakar
Member since
June 2015
On-time repayments
23 installments • 52%
About Me
My name is Abubakar and i am 32years old.I was brought up in Eldoret town in uasin gishu county in Kenya of a family of five.My dad died when i was in primary school.We had to endure the hardship with my 4 siblings.My mother had a small business which provided for the whole family,but also got support from other extended family members .I schooled in Al-Huda muslims primary school in Kajiado county and proceeded to secondary school in Eldoret town.Due to financial problems i could not proceed to collage,so i opted to do casual works in companies.This helped me to save and also sustained me in my day to day life,since i was the first born my siblings took me as a father figure,and usually expected me to provide for them.Eldoret town is located in a highland meaning that the people living there are mostly farmers.Also people from that county are highland Bantus called the kalenjin.I have two children both in primary level,both girls.they usually tell me that they both want to be doctors,and i am hoping to give them all my love and support to collage level because i didn't have that opportunity to go to collage.During my free time i love watching movies,football and spending time with my family.
My Business
My business deals with selling of old and latest movies depending on custom as taste eg;Horror,Epic,Adventure,Comedy,Action,Drummer.Reality movies.In urban areas most of the people like spending their free time in watching movies especially the young generation making this goods useful and in demand.I choose this business because of my passion in movie production,and i also want to study movie production and in future to produce my own.A part from that,this business is highly profitable because it's know trending in a were lively hood.My typical cost is 100 Us dollars which i buy blank Cd's, and upload them with movies and sell them at a cost of 500 Us dollars each.I yous the profit to sustain my family in which i pay my rent,school fess for my children and food items for my family.My business deals with computer machines meaning that ,they have to be serviced,profit money is also used in this area.
Loan Proposal
When given the loan,it will be used in purchasing a new computer which cost 120USD.Currently i am using one computer which is loaded with three duplicating machines,and also i am buying movies from other movie shop and uploading them to my system.Adding another computer will help me in my business by offloading the work rate one computer does,and it will help me download movies direct from the internet rather than buying from other movie shops.I expect my profit to increase from 450USD to 500USD
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Loan Info
Project Type
Classic Loan
Disbursed amount
$97.00
Date disbursed
Aug 28, 2015
Repayment status
Late
Projected term
4 months
Other loans
Lenders
United States
Berlin, Germany
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