Phone project shop in mwea

Daniel Maingi

Umoja, Kenya

100% repaid

Entrepreneur

Name

Daniel Maingi

Member since

November 2014

On-time repayments

87 installments  •  91%

About Me

born in mwea gategi i went to school in the village and later i managed to join lenana school and went to jomo kenyatta university where i did course information technology .i love technology and its my dream that one day i will have a big venture that empowers other youth in terms of job creation to enable them also earn a living .

My Business

Got a loan and managed to stock my mpesa phone .4years down the line I sold the shop and bought a taxi(cab) which I employed someone to drive in Nairobi.the cab makes Ksh 2000 per day thus Ksh 12,000 per week.have run the business for years and managed to buy a second cab and yet employed a driver.now making Ksh 24,000 per week .
Due to the covid 19 I have also added my big Toyota wish to my feet of cabs and I will be driving it to make more money and the government has gone easy on working hours that more business.now running 3vehicles making ksh 6000 per day.

Loan Proposal

i want to get a loan and add inventory to my shop to increase my income .i have been tying to get a loan from local lenders but they need security which is hard to get as a youth with a small business venture .Mobile phone s is a good business venture considering everyone need the device to communicate .if i buy one phone at $5.7 i will buy approximately 8 phone .After the 1ST loan ,i have made big profit which is almost 20% of the loan amount as profit and bought more phones .i would like to stock more variety for my customers since with many brands i believe i will be a one stop shop for phone and also phone accessories .the stock is now urge and we are getting good returns

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$48.19

Date disbursed

Feb 19, 2015

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $48.19 at 0.31% annual rate over 1 month = $0.02

Service fee: $0.24

Lenders

F

flaguy999

Tampa, United States

mepster

San Francisco, Ca, United States

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