Mpesa and equity agent float funds

Entrepreneur

About Me

I was born in Nyeri in 1988, Went to Githakwa primary school and Kiriti secondary school in 2008 respectively. I later studied finance at the University of Nairobi and Proffessional Banking at the Kenya Institute of Bankers. My hobbies are swimming, listening to Gospel music and reading novels. I am 25 years old, I ventured into business in 2013. i am also currently employed as an accountant at Kiu Construction Company. I ventured into business due to the passion i had for it, my business has grown fast for the past years due to their strategic locations and improved customer relations. I came to like where i located the businesses due to high demand for money transfer services in the areas. I have a wife and one child who is currently one year old.

My Business

My businesses are located at Nairobi west at a place called Kahawa west and Maziwa stage opposite Jacaranda Gardens, Kahawa West is a 20 minutes drive from the Nairobi CBD. I operates M-Pesa agencies and a cooperative bank agency, I also deal in selling of phone accessories at my outlets, My business mostly targets the local people in the areas of Kahawa west and Maziwa stage where i operates the shops. I live at Githurai 44 uncle sams .The source of income for my business is now from the retained profits that the businesses generates, other times i inject some more capital from my savings and my salary from where i am currently working. My businesses has grown for the past two years an is well established, the competition is high but due to the strategic location of the business it has been able to attract many customers. i chose this kind of business since it is related to my career choice, as a banker and a financial specialist i would be comfortable in dealing with money related business. I use the business profits to grow my business, for family sustenance and saving. Both the businesses generates profits at average of KES 50,000 per month when i apply the e-float and cash totaling to KES 100,000 per month. the costs involved are labour of KES 6,000 and rent of KES 4,000.

Loan Proposal

I want to increase my cash float in my mpesa and equity agents shop to be able to capture more transactions. The shop has also electricals and phone accesories, so i will add some stocks to increase revenue.
The loan will be used as follows;
Mpesa float: 391.97 usd
Equity bank agent float: 391.97 usd
Electricals: 14.7 usd
Phone accesories: 14.7 usd

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