Entrepreneur
Name
Shadrack
Member since
September 2013
On-time repayments
349 installments • 68%
About Me
MY STORY
My name is Shadrack, reside in Rongai, Nakuru. I am married with two children. Currently I am employed as a civil servant in Nakuru County.
Despite being employed, I noticed that I could not meet all my rising needs thus I decided to engage in Dairy farming and more so though difficult I bought 2 plots. My main target is to start building rental rooms and I have started by buying materials i.e. stones worth US 1,041 from my savings. God willing I intend to start this work before the end of this year, of which after completing I am sure to reap good money.
My Business
As indicated in my story, I engage in dairy farming which earns me some income which caters for some needs and bills e.g water and electricity. I also do some farming for my home consumption.
My anticipated rental rooms which are on a prime area i.e. Nakuru-Eldoret high way will give me enough income to cater for my children’s' school fees and to expand this business by buying other plots for the same.
To rent one room costs Ksh. US.23 x 10 rooms = 230 per month for 1 plot. Therefore If I finish the two plots building it will earn me US. 463 per month. Of course this is good money even to repay my loan and have extras.
The challenge to this project is now the money to buy cement and for the mason.
Before I finish these rooms I will use my salary to repay my loan.
Loan Proposal
As earlier indicated, I wish to use the loan to buy more materials for the building. I have already bought stones though not enough it will finish the foundation. I look forward to use loan to buy sand in order to start the foundation. The site is a good site since it is located on Eldoret/Nakuru highway where it is very busy. I also plan at least to finish a few so that I get money to finish the other part.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Nov 26, 2014
Repayment status
On Time
Projected term
7 months
Other loans
Lenders
Glasgow, United Kingdom
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