Purchase pool table to boost income

Winfred Ing'ea

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Winfred Ing'ea

Member since

July 2014

On-time repayments

18 installments  •  83%

About Me

My names are Winfred Wanza Ing'ea.m I was born on 24th, October, 1977 at Kandumbu Village in Mwala, Machakos County. My Father is called Kisio Kasuki and My mother is Veronicah Ndunge Kisio. I attended school at Kandumbu Primary School and completed my K.C.P.E in 1995. I got married and settled at Kisiiki where i bought land and started business. i carry out a business of Posho mill, muthokoi milling, bar and restaurant. I also engage in small scale horticulture farming. I also engage in Chicken Farming. during my free time, i like visiting the people with disabilities and other disadvantaged to comfort them and make them understand that diability is not inability and that there is hope and means to succeed in life. i also like organising prayer meeting together with the local church members and we attend neighbouring homes praying for the sick and the vulnerable people in the society. From the proceeds of my business, i indent to purchase green houses in order to be able to increase my production of tomatoes and other foodstuffs.

My Business

The potential source of income will be from my business as outlined above. i carry out a business of Posho mill, muthokoi milling, bar and restaurant. I also engage in small scale horticulture farming.i want to expand the business by purchasing a Pool Table which i will strategically place it inside my bar business premises. The cost of the pool table will be USD 337.00 only. The expected daily income from the pool table is USD 10.00 only. This will increase my income from my business and assist in the loan repayment.

Loan Proposal

I want to expand the business by purchasing a Pool Table which i will strategically place it inside my bar business premises. The cost of the pool table will be USD 337.00 only. The expected daily income from the pool table is USD 10.00 only. This translates to USD 70.00 only per week. I expect to be repaying my loan at the rate of USD 17.00 only per week. This will leave me with excess(net profit) of USD 53.00 only per week. Therefore, this project seems to be viable and it is a good decision to start it.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$147.76

Date disbursed

Nov 10, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $147.76 at 12.54% annual rate over 2 months = $3.51

Service fee: $1.03

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