Mpesa and equity agent float funds

Samuel

Nairobi, Kenya

24% repaid

Entrepreneur

Name

Samuel

Member since

February 2015

On-time repayments

217 installments  •  12%

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

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$210.00

Date disbursed

Dec 31, 2015

Repayment status

Late

Projected term

42 months

Lenders

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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  • Samuel    Nov 6, 2018

    I have restocked my business well

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  • Maurice    Oct 15, 2017

    Dear lenders I will try to reach out to Mathaga once more so that he can pay the balances
    Thank you

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  • Maurice    Sep 13, 2017

    Dear lenders I will contacted Mathaga again
    Thank you

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  • Maurice    Jul 19, 2017

    Dear lenders I contacted Mathaga and he indicated that he will pay the remaining balance. Thank you

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  • Paul    Jul 11, 2016

    Dear lenders,
    I have contacted Samuel on his lateness to repay his loan. He informed me that he is on it and should clear the amount due by the close of this week.

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  • Samuel    May 31, 2016

    i was expanding my business, so i am having cash flow problems

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  • Paul    Apr 28, 2016

    Hi lenders,
    Have contacted Samuel regarding is lateness in making his repayments. He informed me that things have been a bit tight but assuared me that he is going to start making repayments immediately and should clear the overdue amount in a months time.

    Regards,
    Paul Mutie
    Volunteer mentor

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  • Samuel    Nov 3, 2015

    Hallo Zidisha, i dont think asking me to pay a one time fee of 13500 kes is fair to me since my business is still growing. I wish the amount was a bit less. This amount is too much and will lead to some people even closing their businesses.

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  • Samuel    Oct 30, 2015

    I am having a cash flow problem at my business due to expansions undertaken. The issue will be adressed soon since the business has expanded.

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  • Samuel    Oct 7, 2015

    Am happy that zidisha has helped me this much to improve my business. Despite the late repayments due to theft of my float by an employee i promise to repay the full amount on time. I have opened a new branch and i will post the photos of the new shop. I thank zidisha so much

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  • Samuel    Jun 26, 2015

    Kindly i would like to reduce my repayment amount due to the slow moving stocks. The investment is good since customers are increasing everyday and am expecting an increase in profits at the end of the month

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  • Samuel    Jun 6, 2015

    Thakyou Zidisha for the money you lent me, I have seen major changes in the development of my business. I was able to add more money to boost my M-pesa float and i was able to add some stocks to my business. I am grateful to Zidisha lenders so much

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  • Samuel    May 7, 2015

    The loan of Kes 2000 Zidisha gave me was used to purchase phone accessories and increase my M-Pesa e_float. My business has improved ever since am able to capture many transactions per day. So far the earnings have increased From March to April by 10%. I have bought new stocks with the earnings and the other is added to the loan repayment amount. Among our achievements me and my wife Mercy have been able to open a new Mpesa Agent shop at Githurai 44 which we want to incorporate electrics among the stocks. I love the neighbourhood here since people are so hospitable and are excited to buy from us since they love young people who engage in business instead of other non valuable activities.

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  • Samuel    Apr 24, 2015

    I recieved an amount of Kes 2005
    I used the amount to buy phone accessories for my shop
    The remaining balance was applied to Mpesa e-float
    I thank Zidisha for this step, they have grown my business much

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  • Samuel    Apr 14, 2015

    Thanks to Zidisha and Paul for funding my loan application. The loan will buy phone accessories for my shop and raise the base level of the Mpesa e-float. Increased float will enable capturing of higher transactions hence increasing the profits. The stocks will increase and the variety will ensure customer choice is prioritized. Thank you Zidisha

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  • Samuel    Apr 14, 2015

    I love Zidisha , my life has never been the same again from the time i started using zizisha.

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  • Samuel    Apr 2, 2015

    Just want to say thank you

    I wish to thank Zidisha for the financial support you provided in growing my business, for your dedication, attention and open-minded thinking and for your readiness to help. My business required addition of stocks ad also the Mpesa E-float which you did not hesitste to give. When I turned to you for assistance, you immediately agreed and did your utmost to provide it as quickly as possible. All this was done in order to make things easier for me and point me in the direction of the light at the end of the tunnel.

    Thank you for opening this door of opportunity, which is a huge step for me, and for giving me strength to persist and succeed. Thank you for everything.

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  • Samuel    Mar 30, 2015

    I thank Zidisha for the loan you gave me of Kes 9037, i put the money into my business. i added the mpesa e-float and bougt stocks for my shop. the loan have raised Kes 3500 for me and am very happy at this. I have retained Kes2500 of the profits into the business. My wife was able to also start a fashion dress business as my son turns 1 year 3 months. we have the best hotels in our area where they host local and foreign tourists when they come for holidays.

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