Military boots for security firm

Norris Wafula

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Norris Wafula

Member since

December 2014

On-time repayments

296 installments  •  30%

About Me

My name is Norris Wafula, 31 years old, married with one son called Hein who is my greatest inspiration. Am a Bukusu, a sub-tribe in the Luhya community in Western Kenya. Most of my childhood life was spent in the rural setup, only after completing my college with a diploma in Information technology is when i was able to come to Nairobi city in search of greener pastures. currently am perusing a degree in Business of information technology.
Life in the city wasn't that easy as i expected however after much waiting and undertaking several unskilled jobs and mostly employed as a security guard, i meet a friend who was starting up his own company and we joined hands from the initial establishment of a company dealing with swimming pool maintenance . This was my turning point in life and i realized it's not a must to be employed but rather you can become self employed and further more create job opportunities to others. I decided to do something different and i registered a security firm which am currently recruiting,training and supply guards to institutions around my home area. My hobbies are swimming, watching movies and traveling.

My Business

My firm is known as Wasino security Services, currently the firm offers the following services; guarding services, Backup & patrols, Event management, V.I.P escort, Electric fencing and CCTV installation. I came up with this business idea after evaluating the area and found out that most institutions employ guards not attached to any firm and without any training. This business does not only benefit me but it also helps me reach out in developing my community by offering Job opportunities. Am the sole financier of the business with little savings form my current job. Currently i have 16 guards and spend USD 44 per guard for recruitment, training and supply of equipment and hired one former security officer to manage the guards. My clients pay a monthly guarding fee of between USD 55 -77.
Monthly am able to make a profit of around USD 115 which most of it is ploughed back into the business. With a promising growth, i foresee a bright future for my firm.

Loan Proposal

When i get the loan i will use the funds to purchase military boots for the guards. currently the guards are using the normal office shoes which do not look professional and also had to operate in during rainy seasons.
The market value for 1 pair of military boots is USD 14

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.18

Date disbursed

Dec 18, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $100.18 at 5.91% annual rate over 2 months = $1.19

Service fee: $0.75

Lenders

Feldborg

Stuttgart, Germany

T

TVandenbosch

Brussels, Belgium

T

thebonseung

Republic of Korea

KrautFunding

Hamburg, Germany

lyalljellyman

Wellington, New Zealand

Leonardia

Waddinxveen, Netherlands

Dave Bogard

New York, United States

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