Loan to buy 2 laptops for my writing business
James
Nakuru, Kenya
11% repaid
Entrepreneur
Name
James
Member since
May 2014
On-time repayments
49 installments • 43%
About Me
I am a Kenyan citizen, born on March 28th, 1987. I enrolled at Nguriunditu Primary school in 1995 and cleared in 2002 with a B- (Minus). I joined Thika High School in 2003 and left in 2006 with a B- (Minus). I enrolled at the Kenya Institute of Management in 2008 for a course in Business Management and graduated in 2011 with a diploma in the same. While still in college, I got a job at Sigona Waters as an accounts assistant in 2009 on a casual basis. I worked there for three years up to 2009 when the company closed down business. This was as result of losses that the company had registered for five consecutive years. With the little wage of a casual laborer, I managed to save $240 in 2011. In 2012, I engaged in pig farming and bought 6 piglets at a cost of $37.5 each, the total buying price was $225. The remaining $15 was used in buying feeds. Unfortunately, I lost my job in2012 after the company was closed down. I began engaging in menial jobs to feed the pigs which were then feeding more though not mature enough to be sold. The menial jobs were not forthcoming. I would take feeds from my suppliers on credit, hoping to pay them after I got some work. After several days of joblessness and my pigs that continued to eat each day, I found myself in debt with the feed suppliers. We agreed that I was to sell the pigs and pay them. The swine had lost much weight and the total weight of all the pigs was 180 kilograms with each costing $1.875. The price was at its lowest because of an influx of pigs in the market. The total sale was $337.5. I used $185 to pay the feed suppliers and was left with $152. I used the money to buy a second hand mini laptop and began academic writing for students in colleges and universities in the US, UK and other parts in the world. I have an employer with a writing account who gets work from a writing firm in the UK. He sends me work and i do it from the house. I have worked for him since 2013. I later upgraded and bought a new laptop early this year. My hobby is traveling and making adventure.
My Business
I am an academic writer and I write essays, thesis, business proposals, research projects, personal statements and coursework for students in colleges and universities in the US, UK, Australia and other parts of the world. I get work from someone with a writing account and he sends it to me via email. Upon completion, i sent it back to him via the same. The writing account is owned by a writing company which serves as a link between writers and clients (students). I preferred the business because i can work from the house thereby saving on rent expenses that i would incur if i opened a premise to operate from. I am paid $3 per 275-word page and on a good day i can write five to six pages. The costs include internet expenses which cost $10 a month, electricity $4 and house rent $24.
Loan Proposal
I want to begin by thanking all lenders at zidisha.org who are doing the noble work of funding people in business around the world to help them realize their dreams. I have also taken a loan at zidisha.org before and i repaid it on time and am glad to say that i now have 2 computers. I engage in online academic writing where I write academic essays, proposals, thesis, research projects, and personal statements for students in colleges and universities overseas. I am paid $3 per 275 word page and on average I write 5 pages in a day. I have hired a writer who does 4 pages a day and I usually pay him $1.6 per page. The total amount I pay him daily is $6.4 and therefore the profit I make from him is $5.2 in total everyday. I combine the amount with my daily earnings of $15 and the total daily earnings equal to $20.2. With my savings of $220, I will add onto the loan and buy 2 more laptops and then hire 2 writers who are easily available. In total, I will have 3 writers who will be using my computers. My daily income from the three writers will be $15.6 and after adding that to what i make working alone, the total amount will be $30.6. The loan will enable me create jobs for 2 more people and make more income for me. The daily profit will increase by $10.4 and thereby increase my monthly profit by $260.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$355.00
Date disbursed
Mar 30, 2015
Repayment status
Late
Projected term
73 months
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
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