Purchase of fast moving mobile phones for my shop

Nicholas

Thika, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Nicholas

Member since

January 2015

On-time repayments

144 installments • 38%

About Me

My names are Nicholas Ndungu Njoki 35 years old from Kenya. I am married with 5 children both first born and second born are in class 8 while the rest are in lower primary. I reside in Kamwangi estate approximately 20 km west of Thika town. After completing my O level education I secured an employment as a casual laborer in coffee factories around my village. I managed to make savings from my earnings in order to get enough capital to start my own business. By the grace of God and with my humble savings I managed to start a business of selling mobile phones accessories, electronics and plastic water tanks commonly known as (Roto Tanks). The profit raised is used to stock back into business, for household expenses, paying business premises and also paying school fees for my children. By the grace of God and incase I get enough capital, this business I would turn it into a company so that I can have many employees who would also earn a living from it.

My Business

My business involves selling of mobile phone accessories, electronics and plastic water tanks (Roto tanks). I started this business 7 years ago, we run this business with my wife and this has led to cost effectiveness because when I go to purchase these goods from distributors, my shop remains opened and customers are served throughout. The cost of these goods from distributors is lower and this has enabled my customer to enjoy a reasonable price I give them compared to my competitors.

On the other hand I have introduced (Mpesa) mobile money transfer services and hence increased the number of customers as well as increasing my profit margin because of the commission I get in every transaction made.

This business has a chance to grow to a level of a company because of its location just within Kamwangi town and it is a well populated town, this has been my dream but can only be realized if I can get extra capital

Thank you in advance for zidisha loans, this a right platform to make my business grow. God bless you Zidisha team.

Loan Proposal

Dear esteemed lenders.
Thank you for my previous loan that raised my sales compared to past few months hence raising my profit margin with 40%. I kindly request for financial assistance to enable me introduce fast moving mobile phones which is commonly used and its price is friendly to the locals. Your financial support will supplement my profit that i intend to reinvest into the business.
Budget:-
1). 4 Itel mobile phones @ USD 15 =USD 60
2). 4 Tecno mobile phones @ USD 16 = USD 64
3). 3 Nokia 105 @ USD 15 = USD 45
4). 4 Kambabe @ USD 9 = USD 36
This stock of mobile phones will increase my profit margin with 45%
I promise to remain faithful in in repayment. Thank you lenders for supporting my project.