About Me

I applied for a loan of Kshs 50,000.00 but got a loan of Kshs 7,900.00 which was ofcourse too small for my buiness. I repaid the loan in one single payment and you owe me a refund since I over paid the loan by about Kshs 2000.
I am resubmitting my application for a loan of Kshs 50,000.00.
I started running businesses many years ago in Nairobi. I started with kiosk rising to a shop in Jericho market
In 1980, my family relocated to Nakuru town and I had to close my shop in Nairobi and join my family.

Since I had gotten used to business, I had to look for new engagements where I was employed by a local college to run its students hostels from 1990 to 1997 when I quite to start my own after seven years of learning about hostels.

Am a mother of 3 girls and married. Two are working and one is in College. I live in rift valley province Nakuru town since 1986.

Am a business lady i operate a hostel business which I started in 1998 in the heart of Nakuru town Central Business District (CBD) town. There is where we have all the local universities namely, Egerton University, town campus, Tracom College, Jomo Kenyatta University of Agriculture and Technology, Mt. Kenya University, Presbyterian University of East Africa (PUEA), Rift Valley Institute of Science and Technology-Town Campus, Kenyatta University (KU), Kabarak University, town Campus to mention but a few. I use the earnings from the business to pay for my daughters college fees, and reinvest back some into the business. The major costs goes to improving the beds, mattresses, cooking equipment and serving areas.

The cost of cooking fuel is also high considering that both gas and charcoal are currently very costly.

I would there fore like to take a loan to improve on modernizing the kitchen and replacing some aging beds

My Business

I operate a ladies hostel in Nakuru town. there is demand for this service because the town has really grown over the past three years such that 80% of all the Universities in this country have all opened Campuses in this town hence the high demand for the services. There is a very high demand for hostel services as all the local universities and tertiary institutions do not offer accommodation. Students once admitted must make own arrangements for local accommodation. There is why many of us become a necessity to these students who come from out side the town.
It is also worth noting that Nakuru has been recently rated as the fasted growing town in Africa, thereby increasing the housing demand.

Ofcourse there is competition but I have mustered this businesses over the years and hence I fair quite well in competitiveness.
My customers prefer me to my competitors because i maintain high standards of cleanness and my Hostel is Home away from home. I have friendly staff members an i charge affordable fees.

I offer recreational facilities and entertainment such as TV etc.
on average i make a revenue of Ksh. 150,000 Monthly
Monthly cost Ksh. 135,000
Profit Ksh. 15,000

The major risks that i face are :
1. The rise in the price of essential consumable and i cannot at once revise the fees i charge
2. delay in students making payments due to their parents delaying.

Loan Proposal

In had requested for Kshs 50,000 to improve my hostel. The approved kshs 8409 is just to low for any meaningful renovations.

Kindly allow me to decline the loan as it will not make any impact.
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