Entrepreneur
Name
Zachary
Member since
January 2015
On-time repayments
19 installments • 63%
About Me
My name is Zachary Mengo and I was born in Nyeri near the famous Mt. Kenya. This an area known for agriculture products such as tea and coffee. I grew up in this area while helping my parents with their farm duties.
Like other children, I was taken to school for my primary then secondary school. My parents being staunch Christians, encouraged me to take church matters seriously. It is from these church sessions that I developed my liking for music. I later turned this hobby into a career and I produced my first a gospel album in 2011.
Although the sales were not very good, I used this as an entry point into music scene and I am now well known in the area where I operate.
I am married to my lovely wife Peris.
My Business
My business is music - producing my own and also selling music of other musicians. As mentioned above, I produced one album a few years ago and I am hoping to produce the second one this year.
I normally sell my music and that of other artistes from door to door and also in gospel crusades and market places. This is a tough business but it gives me good returns since I normally make about $350 per month. I use most of this money for sustenance of my family and for buying more stock.
Loan Proposal
My music business is doing well. I am now ready to record my next album of 7 tracks. The audio recording will cost me around USD 300. I am hoping to build on the success of the previous album and I am optimistic that I will be able to reach a wider audience with these tracks which according to me are much better.
I have projected to sell about 1000 copies within the first three months and this will give a net profit of about USD 700. I will use this money to do more marketing and prepare for the video production of the same tracks. I will manage to repay this loan comfortably since I expect good sales from this album and my previous work.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$179.00
Date disbursed
Nov 10, 2015
Repayment status
On Time
Projected term
2 months
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