Entrepreneur
Name
Mike
Member since
February 2014
On-time repayments
181 installments • 16%
About Me
I am a middle-aged Businessman running two Internet Cafes in Mazabuka and Monze. I also own two complete houses in one town and city.
I am married to a Degree Holder with a job and we have two children. I am a distinction student, hard worker and self believer. I am also a Community participator.
Mazabuka is a small Sugar Growing town, surrounded by serious Diary and Crop Farmers both commercial and subsistence farmers. The town has a Nickel Mine 70kms away.
My Business
The Business (Noriasys Ltd) was established in 2008 and we are continuing to grow it organically without taking too much risks. As already mentioned, we operate Makwembo Internet Cafe in two locations and a small subsistence farm for general agriculture. We employ FIVE people on a permanent basis. We plan to continue growing our businesses within our means while enjoying life. We are very particular on how the surrounding communities in which we do our business benefit from our presence. Our current turnover is just around US$25,000=00 and slowly growing.
My pastime is spent mostly at the LIONS Club and playing social Golf with a lot of reading for my Business Management degree.
Loan Proposal
CAUSE:
Our Country is experiencing an unprecedented power deficit due to inadequate rainfall from the previous season. As a result our national GRID HYDRO POWER SUPPLY is failing to meet the country demand and having a severe impact on my Internet Businesses with 30% revenue loss from June 2015 to July 2015 alone due to constant load shedding. The situation will only get worse before it improves.
SOLUTION:
A small inexpensive HYBRID SOLAR POWER SYSTEM (HSPS) supplying me with 1-2000W of stable power will ensure I restore my revenue base until the national grid supply normalizes. The HSPS should cost me between US$500 and US$700 to install.
OTHER BENEFITS:
This solution should pay for itself in the long run from several points of view as follows;
(1) Customer retention and increase in customer base from the competition without power backup solutions. This could also result in increased revenue if marketed well.
(2) Power cost savings for my business from NON-GRID solar source for the life of the unit.
Feedback
Positive
6
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$517.00
Date disbursed
Aug 21, 2015
Repayment status
On Time
Projected term
37 months
Other loans
Lenders
United Kingdom
Taiwan
United States
San Francisco, Netherlands
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