Scopah enterprises expansion loan

Paul Mutie

Kasarani, Nairobi, Kenya, Kenya

100% repaid

Entrepreneur

Name

Paul Mutie

Member since

August 2014

On-time repayments

357 installments  •  87%

About Me

I am a 37 years old, married with two children. Professionally i am a Realtor and proprietor at Scopah Enterprises Limited. I was born and raised by struggling parents but they gave all their efforts to ensure that me and everyone in the family could enjoy the basic needs and education. I studied up to high school level for my parents could not afford to get me passed that but I did not give up. I found my way to Nairobi through a friend who housed me for several months before introducing me to this grate man, the late Gordon Nyabande, who taught me through the essentials of Real Estate and gave me a chance of working under him in his firm. During this period he saw my interest in this field and encouraged me to start classes. I am now a proud Diploma holder in Real Estate but my boss and the person who introduced me in this field did not live long enough to see how far I could go, he sadly passed on in September 2015 through cancer. Now, with over 15 years experience in Real estate market, i have decided that am ready to venture in this market and I have had progressive meetings with a friend in the same field and are in the final stages of registering our own company. My friend and partner to be has over 20 years experience in the field and our aim is to combine our efforts in developing our young firm with a target to becoming one of the leading real estate firms in Kenya by the next 10 years. I am a big fan of business documentaries and also a soccer lover. Besides I love exercising and reading news papers and magazines. It has been a long journey so far but am not giving up till I see myself up there with the best entrepreneurs!

My Business

Scopah Enterprises is my business that has been in operation for about 10 years now. In this business i deal with the fast moving consumer goods. I chose this kind of business after conducting a feasibility study over a period of six months which led me to concluding that this are basic goods and people will need them in their homes day in day out. The business initially generated monthly profit of about $500 but your first loan saw my profit go up by 8%. Your second funding of my project enable my profits grow with another 12% and your third lending grew my profit with about 16%. I am currently enjoying monthly profits of about $10,000 of which I spend $136 for rent, $150 I pay myself a salary, $140 I pay my wife who runs the business, $60 takes care of utility bills, $150 goes for savings and the rest goes for reinvestment in growing the business. During this period we have been in operation we have seen tremendous growth most which is all because of your funding.

Loan Proposal

I am planing to expand my business by purchasing some more variety of shop goods to attract different customers because through the period of ten months i have been running this business i have come to realize that every customer has his/her own preference. Besides i would like to take this opportunity to grow my loan limit so that i may qualify for a larger amount which will help me realize my business dream.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$49.92

Date disbursed

Nov 17, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $49.92 at 5.36% annual rate over 2 months = $0.56

Service fee: $0.38

Lenders

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J

jlberqie

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Matching Fund

Sterling, United States

Paul Buchheit

Mountain View, United States

bb4dogs

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