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

The previous loan helped me boost my stock by bringing commodities from different manufactures which so my profit margin raise by 8%. I intend to use this amount to bring more varieties of goods on stock so that i can strive towards my dream of becoming a reputable business man in my community. I will also be able to cater for my immediate family as well as my aging parents.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$130.49

Date disbursed

Feb 4, 2015

Repayment status

On Time

Projected term

8 weeks

Cost to entrepreneur

Lender interest: $130.49 at 5.48% annual rate over 1 month = $1.18

Service fee: $0.81

Lenders

C

CWS

Huntington beach, ca, United States

J

johan

Oslo, Norway

torelizer

Reggio Emilia, Italy

C

chkuo

Taipei, Taiwan

P

Philippe

Adliswil, Switzerland

L

lmuenchen

Munich, Germany

J

jozua

Delft, Netherlands

Zidisha

Sterling, United States

BJ

Brandon Joz

North Carolina, United States

Jeff and Marcie

Portland, OR, United States

P

proby24

Singapore, Singapore

T

tmsaddress

Orlando, Florida, United States

S

samuk

Nottingham, United Kingdom

juliemartha

Lake Mary, United States

U

UmSaeed

Southfield, United States

A

Aaron

Zurich, Switzerland

OlyRhys

Olympia, United States

J

jerryq

Redding, United States

T

Tui1974

nuenen, Netherlands

fairspirit

Utrecht, Netherlands

S

solarkismet

Logan, United States

Paul Buchheit

Mountain View, United States

K

Karpet

Faroe Islands

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