To increase cash for my m-pesa business

Entrepreneur

About Me

Born in Western Province of Kenya in Busia County in 1988
I survived as second born in a family of four (4) Children
Sat for KCPE (Kenya Certificate of Primary Education) in 2004
Sat for KCSE (Kenya Certificte of Secondary Education) in 2008
Acquired Certificate in Computer Proficiency in 2009
Joined Masinde Muliro University for Bachelor's Degree in 2010
Started Business (The Stewards Enterprises) in 2014 with starting capital from well wishers and personal savings.
Got married in 2016 to date

My Business

I started my Business (The Stewards Enterprises) in 2014 as an M-Pesa Agent. From the revenues earned, In 2015 I expanded to operate a Cyber Cafe , starting with five Computers.
in 2016 I started to operate a KCB- Mtaani Agent
In 2017 I applied to operate a Co-op Mtaani Agent (the request is being processed)
Due to high demand of Computer and internet Services in my location, i am forced to expand my cyber thus increasing my revenue to meet my needs and personal development such as paying school fees for my siblings, open up other branches in different locations.

Loan Proposal

I will use the Money to add cash flow in my M-pesa business.
M-pesa, Airtel Money and KCB Mtaani businesses, (these three which I operate), earns commission to an Agent for each transaction done. For an agent to earn higher commission, he/she is required to have as many transactions as possible. But this depends with how much money an agent has invested in the businesses. For my Case, I am operating with KES 30,000 ($300). I don’t have much money yet. This has limited the number of transactions I do in a day. If you have much money you will serve more customers, thus more transactions resulting to a higher commission earnings at the end of the month.
For my case, depending on the amount of money I am operating with, on average basis I manage to do 30 M-pesa transactions per day, 5 Airtel money transaction and 10 KCB transactions. From this I earn a commission of KES 7,650 ($76.5) per month from M-pesa transactions, KES 1,275 ($12.8) per month from Airtel Money transactions and KES 6,000 ($60) per month from KCB transaction. In total I make KES 14,925 ($149) per month. This translates to 45 transactions per day and each transaction gives a commission of KES 11 ($0.11).
Due to limited cash, I am only able to serve customer transacting KES 1,000 ($10) and below so as to have more transactions thus higher commissions. Because if I allow customers transacting large amounts, I will have few transactions hence less commission at the end of the month.
If I had KES 1,000,000 ($10,000) I won’t have any excuse to limit the amount of money to be transacted. This is why I am requesting your support to raise my cash from KES 30,000 ($300) to KES 1,000,000 ($10,000).
The commission I get helps me to pay salary to my two employees a total of KES 7,000 ($80) per month, and pay the rent for my shop KES 3,000 ($30) per month. From KES 14,925 I remain with Net income of KES 4,925 ($49) which helps me to meet my personal needs like food and clothing and for my family as well.
Apart from meeting basic needs, I also pay school fees for my younger siblings who are in university.

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Loan Info