Renewing of business work permit

Muchoki

Kayole, Kenya

50% repaid

Entrepreneur

Name

Muchoki

Member since

June 2017

On-time repayments

65 installments  •  25%

About Me

my name is lewis muchoki owner of krizz nail parlour.I was born in kirinyaga county.my family was not well off but interestingly we never lacked basic necessities.All that changed when my mother died while i was in class 3 and was left at the mercy of my step dad life became hard and I had to leave...fortunately through government funding I was able to finish my form four and get a certificate.After form four I looked for a job and my first job was as a cyber cafe attendant with an income of just 8000 ksh.which was hardly enough for me.i sought for greener pasture and got a job at a betting company as a sports betting cashier with a salary of just 18000 these was a relief at least I cousin spare some cash.i enrolled in university perusing a degree in computer science but half way I become jobless again and had to stop my classes.i looked for on other job and got trained as a nail artist and I saved for one year and got 60k. I started my own nail parlour with just that cash well it was not that comfy and stylish but I made it.
convincing customers was hard because there was no variety of services we could offer but what made me outstand against my competitors was services I offered one year later I was able to upgrade

My Business

Well 3 years after inception and the results and experience have been extremely motivating.when I started the monthly turnover was just 8000 that was not even enough to pay the business rent.i had to opt for a loan.i got a loan from a friend to top up for the rent and add some more commodities in our profile.six months later our customer base had grown to 200. and the monthly turnover was 20000.after one year the monthly turnover was 50000 thousand
That year the annual turnover was 105000.At the end of second year the turnover was 400000.We are targeting 600000 this year.

Loan Proposal

i am in need of 99$ for the renewal of county council licence failure to which the business can be closed down or my business assets seized which will lead to big loss of revenue.
if you grant me this amount the licence will be renewed and so we will work without fear of county council officials...and the business will continue to generating income
Thanks in advance

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$98.00

Date disbursed

Nov 30, 2018

Repayment status

Late

Projected term

14 months

Lenders

Franmiguel

Perth, Australia

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