Loan toward tuition for university degree (Master's in Economics/Finance)
John
Migori, Kenya
4% repaid
Entrepreneur
Name
John
Member since
September 2015
On-time repayments
131 installments • 54%
About Me
My names are john omondi, the second born in a family of six.I did my national primary and high school examinations in the years 2005 and 2009 respectively.I performed so well in high school that i managed to secure a chance in one of the public universities(Kenyatta university) where i was confered first degree in economics and finance in december 2015.
At the university i succumbed to peer pressure and joined a very bad group of drug users, a decision that could have caused me my degree had i not changed and quit the group.It was however not easy but with the help of student's welfare director and counsellors i managed to bid the group bye.
During counseling my counsellors would tell how drugs can impact negatively on my social life and ruin my life yet i had a brighter future.They urged me on how the time i wasted abusing drugs could better be used narating anologies of local business people who started small while still at the university.Thats when i developed a business and started looking for business gap that existed in surrounding.
Having an interest in electronics i decided to narrow my search on this area and later started a cell phone repair business.
My Business
I offer phone repair services both hardware and software repairs. These services are very useful and are on high demand due to the fact that phone user are many and continue to grow at a high rate and phones break evry often yet trained technicians are very few.
I choose this business because it revolves around my hobby and like everyone i would like to do what i love most.The typical costs entails the costs of buying soldering materials, phone accessories among others things whereas revenues are generally the repair fees that clients pay for the services rendered.
Since this business is a startup most of the profits are reinvested for growth while another small percentage goes to supporting my younger siblings who are still in primary school.
Loan Proposal
I purpose to top this loan with the personal savings i have saved overtime to enrol for a masters degree program after successfully completing my undergraduate study in 2015.
Total enrolment fee for this program costs 94,000KES (940USD) but i currently have slightly over 80,000KES(800USD).With this loan i will have almost 1000USD which is sufficient for enrollment.
I anticipate that my employability will increase especially as tutorial fellow even during my study period. Hence this will complement income from my phone service business to ensuring that i pay this loan comfortably.
Thank you in advance for your support.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$221.00
Date disbursed
Sep 5, 2017
Repayment status
Late
Projected term
13 months
Other loans
Lenders
Germany
Jake Gibson and Beverly Picardo
San Francisco, United States
United States
United States
Ask John a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.