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
Already I have bought nearly all the materials required for my rooms. I would have started it but I need to build the toilets first as this is a first priority. I have budgeted it to use close to USD 906.2 for the quality toilets and the bathrooms (8 in number). I will therefore start with the loan you will give me as I top up with my August salary and the savings I have. The completion of this project will open my way in proceeding with the construction of the room. I have already bought the plan and I hope all will be well before the end of this year.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$267.00
Date disbursed
Aug 19, 2015
Repayment status
On Time
Projected term
13 months
Other loans
Lenders
Republic of Korea
United States
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