Entrepreneur
Name
Simon
Member since
February 2014
On-time repayments
22 installments • 50%
About Me
My name is Simon mutero aged 27 years.I was born in watuha village where I grew up and started my primary school education .I Joined high school in the year 2007 and completed year 2010 in a high school which is located at the neighboring county.After form 4 I ventured in small scale trading of locally produced goods such as eggs,Milk and vegetables in Kangema town.There I encountered several challenges such as harassment by the local government officers,Bad weather at times,unfair competion from competitors in terms of prices to try remove me from market and also the main challenge of lack of adequate capital.These challenges did not knock me out of business but rather they made me learn more business skills such as stocking during good sessions to avoid price fluctuations and suffering opportunity cost due to lack of enough stock when the demand is high.
My Business
I invested on a medium size electonic shop in the year 2011 which since then has grown to a large shop.Innitially, Iwas getting my goods of sale in the nearest bigger town which is Muranga due to curtailing transport costs since I had no special means rather than using public transport means.However,I am now in aposition to aquire my goods of sale from the capital city (NAIROBI)which is more competitive. This has enabled me be able to deal with my compettitors and also serve my customers with fair prices.Curentlly I am able to make sales of an average of ksh 20,000 daily which approximately realises an average gross profit of ksh 4,000 and a net profit of around ksh 2500 after tax and other expenses.Since then I have been able to purchase a small parcel of land in the neighboring county Kiambu and built my residence. My current plan is to invest on small scale farm where I intend to rare daily goats and vegetables.
Loan Proposal
The loan will assist me add one more computer to my cyber cafe and also try to invest on electronics components in the near future.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$11.00
Date disbursed
Nov 9, 2016
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
United States
Ask Simon a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.