To expand my restaurant

Langat Robert Kipngeno

Tendwet Village, Kenya

100% repaid

Entrepreneur

Name

Langat Robert Kipngeno

Member since

September 2013

On-time repayments

248 installments  •  16%

About Me

I am 23 years old amd an undergraduate student at Kisii University College where i will graduate next year 2014. I am from a Village called Tendwet Village and we live with my loving parents. I am a second born of 5 children in our family. My elder brother graduated last year and he is still looking for a job. My other young siblings are in Secondary school and one boy is in primary school at local primary school. Last year December i started a business project where i opened a cafe in home village. The proceeds from this cafe has been suporting me alot especially in meeting my college fees and also as a pocket money. The profit is consistently growing over time. I hope to expand and open a restaurant in future.

My Business

It is 8 months since i started a profitable business at nearby trading centre. I am operating cafeteria where i serve various delicious food to my customers. I realized this idea when i saw many customers dont have a place to have a meal or to take coffee. I tape this opportunity and take a chance in venturing in this profitable business. I have employed 2 employees to help me in preparing meals and serving customers in rthe cafeteria. I prepare chapatis, coffee, mandazi, cofee and roast and fried meat among other delicious meals. I make a profit of 1500 per day ,and upto 2000 when the customers are many. This i deductksh600 to pay workers whereby each take ksh300 per day as a daily labour wage. This has realy helped me alot and the profit i get from this cafeteria i save for future expansion. I have been payng school fees and getting pocket money from this business. I am focusing to opening another branch in the nearby town in near future. If i get support from anybody willing to support i will boost this business to its expected level. I want in the next one year time i am hoping to open a restaurant.


My business was affected but the pandemic and election period but at the moment things have normalize.

Loan Proposal

will buy the following;
1.increase the variety of food i will be offering for sell,e.g pilau,fried meat and chips.
2.employ more people to help in the restaurant.
3buy a bigger water tank.

benefit it will create;
1.help me to increase my profit.
2improve the quality of service in the restaurant
.3create employment.

. why lenders should support;
1.my business is viable and promising
2 i did not default my previous loan..
3.my relation with lenders is good,thanks.

Feedback

2

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Loan Info

Project Type

Classic Loan

Disbursed amount

$308.11

Date disbursed

Jan 26, 2014

Repayment status

On Time

Projected term

56 months

Cost to entrepreneur

Lender interest: $308.11 at 5.00% annual rate over 56 months = $71.10

Service fee: $50.19

Lenders

C

chkuo

Taipei, Taiwan

PaulE

Cockeysville, MD, United States

P

patfigel

Wien, Austria

M

michaelkwolek

Boulder, United States

KM

British Columbia, Canada, Canada

Susansfund

Colorado Springs, United States

P

Prysdahl

Marshall, United States

Alina

Amsterdam, Netherlands

Sarasota

Sarasota, Fl, United States

D

Deback

Denver, United States

Z

zvrk2014

Brookline, MA, United States

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