Add new shelves and hire an employee for my grocery shop
Simon
Ndunyu Chege, Gatanga, Kenya
55% repaid
Entrepreneur
Name
Simon
Member since
June 2014
On-time repayments
83 installments • 11%
About Me
I was born in Ndunyu Chege which is in the central area of Kenya specifically Muranga County. I currently hold a bachelor of commerce (entrepreneurship) degree from Jomo Kenyatt University. My future dreams are to be a better businessman and also assist the community around me. I got inspired into business in campus through my friends in business whereby I started doing my small business of selling green vegetables and shop items. I run a business of Selling food stuffs which earns me approximately 400$ per month.
My Business
I run a business called Evergreen of Selling food stuffs. I started my business in 2012 it has grown tremendously through the past few years. I decided to start this business so that I can be self-independent and also continue to provide service to my community. My business employs two casual laborers that assist me in the day-to-day activities of my business. Some of the challenges in my business include lack of enough inventory and capital to expand my business. My customers in business are the community around my area. My goal is to grow my business into a wholesale and employ people to reduce the unemployment rates experience currently in our country Kenya. My business has a net turnover of 4,800% per year.
Loan Proposal
I need a loan to add stock to my business and also use some money to buy shelves so as to expand my business. I also need to employ one more person since my business is growing at a high rate. The loan will help me increase my profit / stock. Through the new stock the profit margin will grow by 30%. This loan will impact my life and my community as well as get some new income from this new stock.
Estimated budget
New employee salary 150$
New shelves 300$
Administration costs 50$
Total cost 500$
Feedback
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Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Jun 20, 2014
Repayment status
Late
Projected term
53 months
Lenders
Bridgton, United States
Brisbane, Australia
Madrid, Spain
United States
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Sputnik Mar 23, 2018
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