Entrepreneur
Name
Edmond
Member since
May 2012
On-time repayments
16 installments • 6%
About Me
I am a young Kenyan business man, the last born in a family of three, living in Emerald Apartments, House Number B2, on 4TH Avenue, Ongata Rongai, an urban county approximately 10 km from Nairobi, Kenya’s capital city. I hold a diploma certificate in business administration from Kenya polytechnic and am solely occupied with my business full time. I started my business, under the name of ‘Pewa Wines & Spirits’ back in 2009, while still studying, because of my strong desire to be my own boss and do the things am interested in. My business is currently net worth at approximately Kshs. 300, 000, whose earning are basically used to pay for its typical monthly expenses, to replenish my stock, to expand its operation and for my personal upkeep as it proprietor.
My Business
My business involves a medium sized retail liquor store, located in Church Road, Ongata Rongai, a location that has gained my stores a competitive advantage over its competitors, to provide its customers with a wide array of wines and spirits, e.g. wines, brandy, et cetra, for there recreational purposes. I have wholly owned and operated, ‘Pewa Wines & Spirits’ for the past three years, gaining me an experience that is undoubtedly priceless. There is a very high demand for my services in this area that I operate in, because of my reasonable pricing and the good working relationship that I have cultivated with my wide client base over time. Despite the high demand for my services, my business still faces some challenges that are more or less financially related e.g. its extensive marketing requirements. My typical monthly sales revenues are approximately Kshs. 50, 000/= (exclusive of Labor, Rent and Utilities i.e. Electricity & Water: which amount to roughly Kshs. 35, 000/=) thus leaving me with a net profit of nearly Kshs. 15, 000. Most of my business profit is reinvested back into the business in form of stock.
Loan Proposal
Most of this loan (22, 000) will be used to increase my inventory so as to deal with the high demand that has been pressuring my business and also in accordance with my expansion strategies. The rest will be used in two portions as follows; to boost my marketing operations, including but not limited to minor renovations and repairs of the store and color branding (11, 500), to purchase and entertainment set of various equipments, including improving the sound systems (7, 000). The remain (3, 500), is allocated under the miscellaneous costs for any raising expense that has not been foreseen.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$500.00
Date disbursed
Jul 11, 2012
Repayment status
On Time
Projected term
15 months
Other loans
Lenders
Jersey City, United States
United States
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