Purchase of inventories for my barber shop

John Langat

Kericho, Kenya

100% repaid

Entrepreneur

Name

John Langat

Location

Kericho, Kenya

On-time repayments

106 weekly installments  •  59%

About Me

Am a 32 year old Kenyan married to one beautiful wife and I have 2 Children. I was born and raised in Kericho county and I have 4 siblings.I attended Chepkosilen Primary school then later Chepkosilen Secondary school and therafter got an opportunity to join Railway Training Institute in Nairobi Kenya to study Diploma in Business Administration.

Growing up in a village where all the amenities are hard to get was tough and is still tough but luckily my parents tried all their best to put me through to College level which was hard for them especially being small scale farmers.

After My college studies, it was hard securing a job or starting a business since I was not able to raise any capital to start a business. Currently I work as a sales person under a farmers cooperative as an Agrovet sales person with a meager salary that is only able to sustain my family and tithe.

Using my acquired knowledge in Business Administration, I will be able to run well and grow my business.my borrowed loan will enable me start a business, barber shop and a movie shop, which will improve and uplift my livelihood and those around me as I will create employment too to other people. I will locate my business near a university,Kabianga University,because most university students appreciate cleanliness and entertainment too therefore my business will be there to offer the service.The place too doesn't have much competition therefore the returns will be higher and the businesss will pick up fast.

The land where I live in is so unique in that most people around here are athletes and strictly conservative about their cultural practices.Good thing about them is their kind heartedness,always loving and ready to give back to the society.

My children would like to be better persons in life even much more better place than where I am currently as they know my hardships and Would like to provide them a much better life than I had.

My hobbies are reading, especially entrepreneurial articles, hiking,listening to music and Drawing, am talented in drawing and like travelling a lot to appreciate God's creation

My Business

Loan borrowed will be repaid partly by my salary and partly by my barber shop and movies business. I work as a sales person working for an agrovet under farmer cooperative society.
My intended business of a barber shop and a movie shop will be of great demand especially because my business will be located near a University (Kabianga University) where this business is in high demand. Especially this being near an institution whereby entertainment and a barber shop is very much in demand.

Part of profits gained from this business will be ploughed back into the business and the rest will be saved in a savings account intended for future expansion.

Loan Proposal

I have some little savings for the invetories of my barber shop of which is not enough.so the loan will serve as a top up amount.
If approved,I will use my loan for the purchase of inventory for my barber shop.The amount applied will facilitate in the puchase of :

-Two wharl Shaving machines @ $90 (both)
- Two shaving seats @ $30 (both)
-Two wall mirrors @ $30 (both)

Total = $150 equivalent to Ksh 15000
The business will improve my livelihood and also to the others because I will employ one person to assist me in service provision.
Monthly projected profit after deduction of the expenses will be $150

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.86

Date disbursed

Oct 27, 2016

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $6.64

Lenders

MarktheMormon

Sandy, Utah, United States

S

Senryu91

caldogno, Italy

F

flaguy999

Tampa, United States

Paul Buchheit

Mountain View, United States

Jon

Sweden

PG

Paul Graham

United States

Craig Newmark

United States

The Zinc Team

San Francisco, United States

RR

Rory Rohloff

United States

Humble Bundle Community

San Francisco, United States

A

Anonymous

United States

A

Anonymous

United States

JH

Joseph Hwang

Houston, United States

JF

Jason Florida

United States

Paul Buchheit

Mountain View, United States

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