High-definition camera for my music/video production business

Entrepreneur

About Me

I am the fisrt born in my family,and have had difficulties in life since early 2011. i struggled to cater for my education since my parents were disabled by then. i had to start my own business after high school education.

My Business

My business involves entertainment. i am an audio and video producer of local and international music. i do marketting,event organising,artist management whereby i have two signed-in artists in a contract,and choreographing. my business has been on a smooth run since the last two years of existence.I work with professional video directors,promoters and marketers. I earn income from charges of audio and video recording,i.e 100US dollars and 200US dollars respectively per song and I do three to six songs weekly. I also earn from my artists who share with me their earnings as per the contract,i.e 40% of their income weekly which equals about 300US dollars. I save 200 US dollars weekly and use the rest for reinvestments and other expenses, i.e food,maintenance, transportation, among others. Thanks.

Loan Proposal

I'll majorly use the loan for purchasing more advanced digital equipment in my music production studios. I'll buy a new digital video camera worth 700 US dollars. This camera would enable me produce high quality HD videos and hence this will attract more customers to my company-which would increase my production incomes. I would actually achieve this by raising my video production costs from 200 US dollars to 250 US dollars,per video, hence making more profits. This would increase my weekly income. I'll then market myself through the media i.e radio and television stations whereby i'll use the 50 US dollars of the loan plus my savings to achieve this. I'll definately advertise my business in the media and this would actually expand my market as a music producer and more people would look for me to work with them. Secondly I would like to let lenders know why my repayment rate is 0%. On my first loan, which was disbursed last year,I had repayment difficulties. I could not access my account because my sim card had technical issues so I couldn't repay my loan. I then explained to the Zidisha team the problem I had and they helped me on what to do and my loan was repaid successfully once,though my repayment rate remained constant at 0% because my repayment duration had passed. Am requesting lenders to favour my application and I would be much greatful,making sure I repay my loan on time this time. Thanks.

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