Stock for my beauty shop to meet the increased demand

Andrew Omolo

Uranga, Kenya

43% repaid

Entrepreneur

Name

Andrew Omolo

Member since

July 2016

On-time repayments

233 installments  •  36%

About Me

Andrew is a Kenyan by nationality who resides from Siaya county. I am a diploma graduant in Business administration. Started business back in 2007 so as to raise for to enhance me complete my high school education. From I had explored business ideas from Kenya and beyond including Tanzania. Andrew is a self driven person who works with personality with a desire to achieve the set objectives. A challenge that I went through 2007 of raising my own school fees from the little coins I gained from photography made me have a life change that irrespective of all the hardness situations one goes through he or she is still in a position to prosper. The set culture that the parents are permanently the ones to raise up their kids I got a time to challenge it. From my personal hard work my siblings would want to be prosperous business managers. Andrew likes taking photos reading swimming, traveling,singing and making friends.

My Business

I personaly venture in different types of businesses that include service and product delivery. I currently manage a photo studio, bar and public address system. This has made me manover in life. The products that i sell in both my studio and pub are some of the necessities that most of the people in my country use i.e liquor is being used almost daily. Cosmetics are other things that are highly in demand. With various occasions taking place almost every weekend the services of PA is highly demanding. All the above ventures were suitable to me because handling wasnt costing me and i could personally handle them. My revenus mostly comes from the well managed capital that was used to start the ventures loan from other financial institutions and my personal savings. I am currently working on a strategy that will see me working with the profit gained to come up with another business apart from using it to settle debts or loans and school fees for my futher learnings.

Loan Proposal

I salute my lenders for funding my first loan that had a great impact to me.
If my second loan is funded, I am going to use it to stock up ointments for ladies worth $30, perfumes worth $25, handbags worth $40, ladies shoes worth $40, jewelries worth $15 and manicure sets worth $19.9. With all these I think my business will be ready to go. I am targeting a high demand and also expect the sales to rise as we are approaching the festive season.
From my sales that I'll make from the month of December, I expect to pay my loan back on time, pay my bills, pay my three sisters school feed next year and also pay for one boy his fee as I have always done that to him as a guardian. All this payments are expected to be paid from the profit that my entity will earn.
I believe that the zidisha team will accept my proposal and help me do the stocking right on time before its late with me as these are the periods when business does very well here in Kenya and nothing is always left for granted. For this reason I want to assure my lenders that all will go well and perhaps my repayment rate might shoot up in two weeks time.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$180.01

Date disbursed

Nov 30, 2016

Repayment status

Late

Projected term

53 months

Cost to entrepreneur

Service fee: $7.42

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