Name
Philemon
Member since
April 2017
On-time repayments
275 installments • 93%
I am an entrepreneur by proffession .I graduted on 1st December 2017.I was born in poor family of 11 children.Four sisters an seven brothers .I went through hardship and challenges in my tender age due to finacial challenge .Being a big family I struggled through toil and hardship that made me to be self-reliant .The hardship and challenges forced me to be developed financial independence .While I was in my primary school at the age of 12 I started operating small business as hawker selling mangoes and oranges at Kamoiywa village .This built my entrepreneurial skills and the desire to have financial freedom.After four years I joined Karatina University and I have managed to complete my degree of bachelor of Science in Entrepreneurship and graduated on 1st December 2017.Currently,I am Working with Juhudi Kilimo as a partime job as I explore the business opportunities. I am still operating transport business.Currently ,I own one motorbyke and planning to acquire another new motorbyke that will transform my transport business.I am determined to established my business and become the manager of transport business .My dream is to expand my transport business to acquire more cars to acheive my dream of being a millionnaire.
My hobby is networking and this has enable me to get more business opportunities in network marketing as well as sharing ideas about upcoming business ventures.
As a sole proprietor, I operate a transport business .I am in possession of 1 motorbikes facilitating transport businesses within small town s. Its operating from morning till 8 pm at night.I have managed to employ one person to carry out the transportation.
Currently, I earn 100 dollars per month after deducting monthly expenses.Due to low season and long election period the transport sector has been affected adversely. The transport in small towns has high demand because it's the only profit convenient mode of transportation in rural areas.
Since we have dynamic changes in transport sector their is a need to shift to use the Pro-box car since its now the convinient mode of transport and also more profitable than motorbike . I have managed to saved 2500 dollars.I am looking forward to accumulate the saving and reinvest .Through savings,and loan that I expect from lender I will be able to get 1500 dollars to buy a Toyota Pro-box costing 4000 dollars . This would enable me to increase my income to a higher level of 250 dollars per day .I am really yearning to start my career and grow to be a millionaire.
I also have a plan to diversify my business by venturing into selling gas cylinders as well as gas for cooking.Moreover ,as ambitious entrepreneur and also opening shop for selling second-hnad clothes(mitumba).This business will create more income as plan to venture to other lucrative businesses.
I am anticipating to minimize cost by selling the gas cyliders and second-hand clothes by the nearby shop to avoid rent expenses and minimizing the costs.I also found selling cooking gas within the estate would create a large market for my business since most consumers are within the vicinty.
My plan is assisst my parents in their upkeep as well as reivest more to generate more income.
I am planning to acquire Pro Box Car . I want to shift from motorbike to PRO BOX . I have been operating the transport business and I have managed to saved 1700 dollars and now I require 2300 dollars from lenders to acquire probox car.
Amount saved 1700 dollars
Amount to be borrowed 2300 dollars
Total REQUIRED= 4000 Dollars
I am expecting to get a profit of 300 dollars per month .This imply an increase in 200 dollars per month.The business will enable me to start building a career as young entrepreneur .
Positive
1
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$883.00
Date disbursed
Dec 28, 2017
Repayment status
On Time
Projected term
12 months
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Philemon Sep 11, 2018
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