Entrepreneur
Name
Paul
Member since
February 2015
On-time repayments
34 installments • 24%
About Me
My name is Paul Muhami and am a born again christian. I am 44 years old while my wife is 39 years, and we have been blessed with two lovely children, aged 11 years and 6 years.
I started my M-pesa business in March 2008, after Safaricom launched the service and was seeking agents to increase geographical footprint in Kenya. I had been employed as a sales manager in Kenya so I have business management skill to ensure growth and sustainability.
Through the grace of God, we have overcome startup and many other challenges along the way, and we are now venturing into agency banking to increase our revenue and tap into new opportunities.
Over the years, I have been able to open more shops and educate my children. I have even managed to go back to school to hone my business skills.
My Business
It is a cash intensive business requiring adequate e-float at any one given time. Commission depends on size and number of transactions per month, hence availability of float is critical.
In brief, we enable customers load into and withdraw cash from their phones, enabling person-to-person and person-to-business commerce to take place.
Our commissions are aggregated monthly by Safaricom and paid directly into our e-float account so that we can pay salaries and other running expenses, leaving a handsome margin as profit. A statement is available on demand from the Safaricom portal, www.safaricom.co.ke.
We have now opened several new branches to increase our revenue, and would really appreciate a reliable funding partner like Zidisha. We promise to pay all our commitments on time and in full, in addition to promoting Zidisha to other needy and reliable entrepreneurs within our network, hence our application to be appointed volunteer mentors as well.
May God bless you all.
Loan Proposal
I will use the entire loan to top up our float so that we can continue serving our clients. This will ensure that with the new shop assisting the first one, the market will be fully serviced and customers assured of consistent float.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$323.00
Date disbursed
May 27, 2015
Repayment status
Late
Projected term
6 months
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