New binding machine for startup

Entrepreneur

About Me

I am the last born of 6 children. I have a wife and a beautiful daughter. My parents have both retired in the village and they depend on us to sustain them. I have a bachelors degree in information technology. After 5 years of looking for work and failing, i decided to open a small shop next to a college in my area. I focused on offering photocopying, printing and typing services to the college students. I started 2 years ago and now the business has grown in leaps and bounds. Through hard work and dedication, i hope 2018 will be even better for me. When i am not at work, i spend alot of time with my family, watch movies in the house and read novels.

My Business

I have a Shop offering Cyber, Copy and Printing Services. Apart form this, i also bind special reports that need to be bound and collated, Scan and Laminate documents. The secret to succeeding in this business lies in diversification. In future, i wish to open an online business and run an eCommerce store using my cyber cafe as my physical address.
An average of total revenue per month is $500. With the profit, i am able to pay for my business rent and re invest in the business, house rent and general house expenses.

Loan Proposal

I want to buy a new binding machine.
I bind approximately 22 reports per day at the cost $0.5 per report. Total is around $11.
I buy binding spirals at a cost of $0.1 per spiral. That is $0.1*22 which is $2.2
Binding covers cost $0.2. Thats a total of $ 4.4. So my total expenses are $6.6. Which leaves me with a profit of $3.4 per day. With a bigger binding machine i can increase my output by double. Your help will be greatly appreciated.

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