Entrepreneur
Name
Dominic Kuria
Member since
March 2013
On-time repayments
273 installments • 3%
About Me
Am the last born in the family of six and my parents are small scale farmers. I live in Nakuru Town Mwariki estate in Kenya. I am a businessman and I have been in business for more than ten years. I have been selling shoes and clothes for more than 10 years and the business has been of help to my life.
Since I started the business it has been of great help to me because it is my source of income whereby it has been paying my house rent, supporting my aged parents and also met my daily expenses. From this business the profit I have been getting has enabled me to open a successful clothes shop. From this business I get an average profit of Ksh 1,000 - Ksh2, 000 per day.
I save daily whereby I have managed to save a good amount in equity bank account No. 0160190952953 Nakuru branch and am trying to accumulate a good amount to open a bigger business that will more profitable.
Despite the economic hardship in Kenya, I have also saved with microfinance KAZANA MICROFINANCE.
I am form four graduate and a passed with a pleasing grade though was unable to join college after my ailing parent were unable raise fees for my education, and that is when I opted to business as it was easier to start on my own from the little capital I received from well wishers.
My Business
I have been in business for the last 12 years after completion of my o level education. I started with a little capital I was rendered from well wishers whereby I was able to pay them back in less than six months. My business grew well and I opened another clothes shop and both of them are selling well. I buy my goods (shoes and clothes) from Nairobi which is the capital city of Kenya where they are cheaper and transport them to about 350 Km to Nakuru where demand is high.
There are no many risks in Nakuru Town as security is tight. I have been able to employ two workers and a security guard, hence creation of jobs.
Since the demand is high, I cannot sustain it with the little capital I have. Actually if I will get enough capital I could expand the business and make more profit than what I am getting now. Consequently, if the business expands I would be able to employ more workers.
PLOFIT AND LOSS ACCOUNT
Month of February 2013
Income ( sales) 70,000.00
Expenses
Stall rent 10,000
Wages 15000
Electricity 500
Sundry 3000
Transport 5000
Personal drawings 10,000
Profit 26500
Loan Proposal
i want to add more stock that will ensure continuity of my business to my expected level. business without stock is not ideal business. currently am experiencing shortage of funds therefore if i secure loan it will boost my business to a higher level.i have also secured constant tenders which i should have enough stock. i promise to repay on time
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Loan Info
Project Type
Classic Loan
Disbursed amount
$99.00
Date disbursed
Feb 23, 2014
Repayment status
Late
Projected term
61 months
Other loans
Lenders
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