Rental-house building project

Entrepreneur

About Me

My name is Nancy Ochieng from Kenya. Am from a family of six children. Am the eldest of them. We have been brought up by the mother after the death of my father some years back. Due to the hardship we have experienced, l have had a tough time in my secondary education. I have been doing small scale work for people such as washing for them clothes so as to get some little income to help in feeding our family. The little saved have been able to get to learn how to operate computer and to buy one desktop which l use in my newly starting cyber business. This will allow me to get some extra income and help me also in making household decisions which is a unique issue in our society with ladies. Once empowered through the business, l will be able to help educate my other siblings to achieve their dreams in education of becoming good doctors, lawyers and engineers. My main hobby has been socializing and l feel that will help me in the business since l will be able to interact well with people.

My Business

Am very grateful for the loan l received which l finished paying recently. Thanks very much my lenders. I am now applying for a loan for a house project. ln our area, there is high demand for housing. My new project is to finish the two 1 bedroom house project l have began. Am choosing this business because of the high demand for housing due to increased population in our area and the country at large.

The estimated cost for the remaining portion is 400US Dollars. These cost are splitted as follows, cement (140 $) Sand (100$) Ballast (50$) Metals for reinforcement (70$) and labour cost (50$). Once completed, the renting price will be 50$ per house. The initial tenant will pay a deposit of 50$ together with the house rent which is also 50$. the total revenue thereafter will be 100$ every month.

This profit l will use part of it to pay the loan, plough some back to the business and also help paying the school fees for my brothers and sisters togehter with my children. l will also take some for the charity programmes around the area.

Loan Proposal

I will use this loan to purchase sand (100$), cement (140$), ballast (50$), metals for reinforcement (120$), labour (50$) and also pay for the transportation of the materials to the building site. This project will help to reduce the issue of poor housing in the area by providing a quality , spacious and affordable houses for rentals. My expected earnings will be 100$ every month from the two houses. This, besides my current business, will now give me a profit of roughly 610$ per month . It will enable me to meet my recurrent expenses as well as paying the loan comfortably.

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