Help me fund my online freelance business
Kipngetich
Kericho, Kenya
100% repaid
Entrepreneur
Name
Kipngetich
Member since
October 2015
On-time repayments
239 installments • 84%
About Me
I am a middle aged Kenyan born and bred in Kericho County, Kenya. I grew up in a humble family of 7 siblings where I am the third born. Since my early days in elementary school, I did work hard as my parents struggled to educate me through high school. Luckily, I got the opportunity of joining university and undertook a course in Computer Science. However, since graduating I struggled in getting employment due to high unemployment levels in the country. Nevertheless, I didn't give and decided to venture into freelance writing, research and technical consulting. This has enabled me to earn some income over the years and with better planning, I believe I can tap more online opportunities and grow it into a venture that can employ more young people. I have tried several ventures and some are successful and progressing on well.
My Business
My business basically entails working online on various projects such as freelance academic writing, website creation, online research and recently I have ventured into Forex trading. I would like to expand my involvement in Forex trading by learning more from experienced traders and other expert traders in the Forex market. Unlike academic writing, the Forex market operates 24/7 from Monday through Friday all year round. Therefore, I would like to become a day trader and earn on a daily basis. Recently, I have had an opportunity to open a small retail shop in partnership with someone else, as a result, I am able to supplement my income when online jobs become scarce or the times are tough. In addition to the these ventures, I would also like to invest in seasonal crop farming since its returns are good whilst it requires minimal investment. I would like to borrow a loan to ensure I can be able to increase revenues in these ventures.
I plan to the invest the $ 3, 200 loan as follows:
a) $ 1000 will go into my retail business.
b) Another $1000 shall be invested in my online venntures (Forex trading, Academic writing and congigencies i.e. Internet costs)
c) I plan to invest around $400 in crop farming and agriculture ventures
d) The remaining $ 800 will be used as savings and emergency funds for loan repayment.
Loan Proposal
The loan will primarily fund my online Forex trading endeavor since I would like to expand my involvement in Forex trading by learning more from experienced traders and other expert traders in the Forex market. Unlike academic writing, the Forex market operates 24/7 from Monday through Friday all year round. Therefore, I would like to become a day trader and earn on a daily basis. Although, trading is challenging, I have already go the hang of it and I am currently progression on well with assistance from experienced traders. I would like to increase the funds invested in the Forex trading activities and thus the funds availed shall be used in improving daily profits accrued from Forex trading.
I need around $ 700 to expand my trading activities; I shall invest these funds as follows;
a) Will increase my current trade account by around $ 500
b) the remaining funds $ 200 shall be used for operational expenses and paying of some tutors in guiding me in the trade process.
I anticipate to make around ($5 to $ 10) per day translating to around ($ 25 to $ 50) per week which will enable me to comfortably pay off the Zidisha loan. Kindly, assist in funding this online venture for me. Thank You.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$682.00
Date disbursed
Dec 20, 2016
Repayment status
On Time
Projected term
3 months
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Stephan W May 8, 2017
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