Open a new branch for my music business

Peris

Mombasa, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Peris

Member since

June 2014

On-time repayments

290 installments • 90%

About Me

My name is Peris Wanjiku Mburu, a last born in a family of 5. I am married to Zack Mengo 2 years ago. I was born in Central region of Kenya where I went to school for my primary and secondary education. I later enrolled for a computer course where I learned standard computer packages.
I was later employed in a music shop in Mombasa town where I was an attendant selling music in form of audio cassettes, cds and dvds. Through savings and hard work, I managed to open my own music shop last year. The business is quite profitable since I use the experience that I gained from my previous job to run it. I am also well connected in the field of music and this makes it rather easy for me to run the business.

My Business

About a year ago, and with credit from Zidisha, I changed my business from music production to farming. This change was informed by the stiff competition in the music industry which made it difficult to make a reasonable income.

This drastic change has paid off and I am now a supplier of pig products in my town. I am currently keeping 48 pigs which I sell to meat processors after every six months. My average net income per month is USD 400 and the business is growing fast and I hope to increase this income in the coming months.

Loan Proposal

The last two loans have made my business grow a big deal. I now feel confident to open another branch at my church compound. I have already spoken to my pastor about this and he has given me a go ahead. I will only be opening this branch on Saturdays and Sundays when the church is full.

I have done research and there is a need for an outlet within the church since I will be able to reach people who are too busy to go buy the music from the stores. I intend to fill this void and I am certain it is going to be a success.

I will spend the money as follows:
1. Rent for the premises for two months $100
2. DVD/CD player at a cost of $70
3. Fittings and branding $200
4.I will use the balance to buy a small stock of music CDs and DVDs to start me off.

Kindly fund my third loan.