Purchase of material for making welding machines

Agustine

Nairobi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Agustine

Member since

May 2014

On-time repayments

128 installments • 65%

About Me

Am a kenyan aged 27 years.I come from Homabay county, Ndhiwa district,Nyarongi division,Kanyadoto west location,Kabura sub location.I started my primary education at Odhiambo Rambo Primary school where I did my KCPE in the 2003 and attained 324 marks out of 500 marks.I then joined Miranga secondary school Where I did my KCSE in the year 2007.I then joined a college and took engineering in Electrical Rewinders(This is like repair of welding machine, motors Grinders and radio transformers)and attained Diploma.I started this business to help me live a better life and assist my siblings.Have managed to purchase several wires and materials used for making new machines.My hobby is reading novels

My Business

Am currently running a workshop of electrical rewinders in Kayole, these deals with repair and making of new machines used for welding.I will use this loan to purchase more wires like copper,aluminum and transformers costing USD400 and other materials like holders,welding cables,paints costing USD 500 used for making new machines for resale.I intend to pay back this loan with money made from the sale of new machines and repairs made,I expect profit increase of around 250 per month I intend to use this profit on school fees and expanding my business by making more machines.My customers are mostly welders who make steel doors,widows,stair grill,metal beds e.t.c.Customers prefer my machines because they are durable and affordable to all customers compared to my competitors.My business is profitable because we have many customers.My business faces the risk of insecurity but we have mitigate this by employing a security guard.My Monthly cost is a round $850 and my monthly income is around $950.

Loan Proposal

My loan will be used to purchase materials like wires,tapes,angle line,varnish,brash,painting colour and Oil all these are used to make new machines.So I will my loan to purchase them and make new ready made machines for my customers to buy.With the amount am requesting I will be in a position to make ten new machines one costing $117 to make and on resale one will cost$165.