M-Pesa shop & farming business
Fredrick
Bumala, Busia, Kenya
22% repaid
Entrepreneur
Name
Fredrick
Member since
August 2015
On-time repayments
194 installments • 22%
About Me
My Names are Fredrick Otieno Maumo, Married man living in Busia County . I completed my secondary school in the year 2002. After this, in the year 2004, I joined a college in Nairobi city where i took a Business Administration course. After the completion of my course, I was employed as a administrator in flower farm in one of the colleges in Kenya. but afterward i decided to diverse my education by joining a university and pursued administration course. After completion i was employed and after few months i came up with an idea of saving and start a business in order to boost my monthly income of which i managed to engage in mixed farming by leasing of lands in narok 40 acres to do potato farming and after getting the finance i also decided to start an mpesa business with a capital by building a small wooden structure with proceed from harvest of 165 bags i have invested a capital of kes 75,000 and intends to use the borrowed amount of kes 61,753 to boast my mpesa agency business to kes 150,000 So current zidisha will boast my mpesa agency business.
Currently I yearn to increase the capacity of my output could be way of sourcing fund externally.
Should I get a well wisher to further gear the business I believe I shall be able to exploit the potentiality existing in the area.
My Business
My business is out line with my career of business administration, having well understood the agriculture industry I chose to do it as a business to boost my living standard.Have also diversified to include mpesa business and to get consitent income from mpesa agency business
I ventured into the business because of the demand in my area for potato products. it started in the year 2008 In busia town out of what I ha saved from my salary where I had only one arce of land.
Due to steady rise in demand, I was forced to increase the acreage to enable me do more large scale farming.besides farming i also rear sheeps and goat to sell as meat during the December holiday in order to boast my inflows
I Currently I yearn to increase the capacity of my output could be way of sourcing fund externally.
Should I get a well wisher to further gear the business I believe I shall be able to exploit the potentiality existing in the area.
Loan Proposal
I intend to use the source funds to enable increase my mpesa float from kes 75,000 to kes 150,000 this will assist me get commissions from extra invested cash and later purchase two mpesa lines. Having used my initial capital to set up current mpesa shop increasing another line and employing another staff will open more revenue steams for my business. i will use this capital for expansion, besides doing agriculture since my leased 40 acres is due in three months for harvesting.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$626.00
Date disbursed
Jun 16, 2016
Repayment status
Late
Projected term
39 months
Other loans
Lenders
Austin, United States
Germany
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