A loan to expand office space

Nicholas

Ngara, Kenya

100% repaid

Entrepreneur

Name

Nicholas

Member since

June 2017

On-time repayments

79 installments  •  65%

About Me

My name is Nicholas Nyongesa aged 30 years. Since my childhood i have been exemplary in educational work with a never to say-die spirit since my cultural and remote environment did not consider education important. However i realized the importance of opening up my mind through the power of education with excellent performance that attracted well wishers to support my education including government scholarship at my university education. After my university education the entrepreneurial spirit within me arose and i started a data collection business where i could walk in the targeted places to interview the respondents on behalf of my clients undertaking research which i have diversified and currently doing supplies in stationery to nearby schools. My 4 year boy tells me that when he grows up he would like to be a pilot. I read entrepreneurial books during my free time

My Business

I do data collection for researchers undertaking their research works and also supply stationery and food stuffs to nearby schools within the proximity of Nairobi Kenya which is well paying and i wish to explore other markets in neighborhood

Loan Proposal

I will use the loan to expand office space. Currently as shown on my profile picture we are sharing a small office space with my employee which renders the working condition to be poor and thus likely to influence work productivity and efficiency. There is also no space where clients can sit and wait to be attended to which forces me to seek alternative meeting point with clients like hotels or rented boardrooms which is expensive in the long run. Once i expand the office space, conducive working environment is guaranteed for my employee and I and also clients will be able to walk in and see their work as they progress and also discuss within the office. This is expected to increase the business profit by 50% due to reduced hotel and hired boardroom costs and also working efficiency. The office expansion is expected to cost $ 600. Once again thank you for being generous and selfless partner in this journey of growing my business and making a difference to society at large.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$485.00

Date disbursed

Mar 8, 2018

Repayment status

On Time

Projected term

2 months

Lenders

CN

Craig Newmark

United States

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  • Nicholas    Feb 11, 2019

    This is a low season for my business. It cannot sustain the current business expenditures plus the loan amount but it will be normal soon. This is because the business i do (research) is done majorly from April. Thanks and i look forward to repaying my loan on time and in full.

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  • Kitty    Oct 31, 2018

    Good luck with the new motorcycle, I hope it works well

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  • Nicholas    Oct 31, 2018

    Thank you lenders for the loan. i will use the loan to purchase a business motorcycle which will enable my business save on costs it has been incurring to hire transport services. This will in turn increase the income for the business. Thank you so much for continued support

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  • Margaret    Oct 15, 2018

    Good luck Nicholas with your new loan!

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    • Nicholas    Oct 24, 2018

      Thank you Margaret...i really appreciate the help accorded to me

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  • Nicholas    Oct 15, 2018

    I used the loan to purchase office furniture. This has enhanced business work environment which in turn enhanced work efficiency. There has been also increased income due to confidence in clients when they visit office location. There has been 30% increase in income which i have used to employ a new staff to help enhance efficiency further for the increased clients. It is expected that with your continued support i will be able to employ more youths and also help pay school fees for the bright but needy students in my neighborhood.

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  • Nicholas    Sep 11, 2018

    Currently am expanding the scope of my business by opening an extra office to accommodate my new two staff in an effort to offer employment and help the society with the challenge of unemployed youths. This therefore will make it difficult to pay the remaining installment in full at once. Reduced installment therefore will enable me clear the loan without any difficult. Thanks a lot

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  • Nicholas    Sep 7, 2018

    Hi lenders, I wish to thank you for your continuous support to my business. I received a total loan principal of KES 85,900. I used the loan to buy office furniture for my research business as follows:
    Executive table=$500
    Executive chair=$200
    Waiting office chair=$100
    2 clients chairs@100=$200
    This has really helped the efficiency and the office look for my business. I lack words to express my gratitude. Thank you

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  • Timothy Senerwa    Sep 4, 2018

    Nicholas was out of town for some weeks thus affecting his repayments. He is back and is promising to make some of the installment by the end of the day. Kindly bear with him. Thanks

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  • Nicholas    Jun 11, 2018

    Thank you lenders; Adrian, Cloudways, Brittany, Jamal, Rian, Craig and Mika for believing in me and advancing a loan. I will use the loan to buy office furniture which will help me gain confidence from the clients and also enable efficiency in work performance. Thanks alot once more for the loan

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  • Nicholas    May 29, 2018

    I wish to thank you lenders fro continued support. I used the previous loan of KES 41, 905 to acquire a bigger office that can accommodate my employee and I and also have enough space for my clients. This has enhanced working environment and also the office image for the client which has further resulted to better bargaining power and clients confidence of engagement. The amount paid by clients have increased by 30% from the previously charged in a smaller office. The increased income have helped me enroll my boy to a better school and am also paying school fees for my neighbour child who is bride and promising. Once again thank you and i look forward to your continued support

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  • Nicholas    Mar 15, 2018

    Hi lenders, I received KES 41,905 for the expansion of office space. am really grateful for continued support and i look forward to repaying on time.

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  • Nicholas    Mar 6, 2018

    I wish to extent my joy to the lenders and specifically the lender for this particular loan Craig Newmark. i will use the loan to expand my office space which is small at the moment. The expanded space will enable my employee and I have conducive working environment and also enable clients to visit the office if need be. I want to sincerely thank you for the continued support you have accorded to me and i look forward to repaying the loan on time. Once again thank you.

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  • Nicholas    Feb 19, 2018

    I wish to thank my lenders (Paul Buchheit, Jake Gibson and Berverly Picardo for the loan of $ 250.34 you advanced to me. You are such darling friends. I used the loan to purchase a laptop worth $340. This has helped my business to improve efficiency since my employee uses the laptop to help me finish up the work which i used to struggle alone before i bought a new laptop. The profits have increased by 35% since i bought the laptop which has helped the business to run effectively. I have also used the profit generated to do marketing in the form of fliers which are distributed in the morning and evening along the major highways within the city to increase my customer base. I also used part of the profit generated to pay school fees for my neighbors' child whose parents are struggling. With your continued support i will be able to grow the business at the same time extent my hand to the less privileged within my area of reach especially to school going children who cannot raise school fees. This is in the spirit that education is the key to success and also opens doors where it seems impossible. Once again thank you dear lenders and i look forward to your further help. Cheers

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  • Nicholas    Feb 8, 2018

    I just banked a cheque from my client today which will mature after 2 days and therefore i will be able to repay the adjusted amount comfortably

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  • Joshi    Feb 2, 2018

    Hello Nicholas,
    I am writing to you since you are volunteer mentor for Alice Jesang. Can you check to see how she is doing? She has missed several payments now. It is understandable that her plans may not have worked as desired. Communicating with lenders to let them know how things are is important.

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  • Nicholas    Feb 1, 2018

    Let me thank Paul Buchheit, Jake Gibson and Beverly Picardo for standing with me in my business. You are such friends and i lack words to express my gratitude. The laptop i bought has really changed my business efficiency. My new employee who uses the laptop is able to pay herself through the income she generates and also more income is left to run the business operations. The profits of the business grew by 35% from the previous period before i bought a laptop through your loan facility. I have used the increased earnings to buy more printing papers for the increased field work clients for my business through referrals as a result of quality and efficiency arising from the business operation. Once again thank you for your support

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  • Nicholas    Feb 1, 2018

    Hi lenders, once again thank you for the loan you advanced to me. The laptop i bought has really changed my business efficiency. My new employee who uses the laptop is able to pay herself through the income she generates and also more income is left to run the business operations. The profits of the business grew by 35% from the previous period before i bought a laptop through your loan facility. I have used the increased earnings to buy more printing papers for the increased field work clients for my business through referrals as a result of quality and efficiency arising from the business operation. Once again thank you for your support

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  • Joshi    Jan 17, 2018

    Hello Nicholas,
    am writing to you about Alice Jesang since you are her VM. She has now missed several repayments. Can you check how things are going for her? She should post an update to let the lenders know of any issues and/or adjust her repayment schedule.

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  • Nicholas    Jan 10, 2018

    Hello lenders, thanks for the affordable loan awarded to me. I purchased a laptop for my new employee and it has really improved my business efficiency. Customers are happy and am getting more new clients from referral. This will increase my profits which will enable me employee more youths in my village since majority are unemployed. Thanks once more. Am really grateful.

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  • Nicholas    Dec 16, 2017

    I want to thank the lenders for advancing me a loan. I used a loan to buy a laptop for my employee. This has brought efficiency in serving the business customers thus doubling the profit margins. The increased profits has therefore enhanced my family welfare since i can afford basic needs such as food, clothing and shelter for them. The employed young man will also be able to enhance his family welfare for the wages earned. Once again i wish to thank my lenders abundantly.

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