Edmond
Nairobi, Kenya
$0 to go
100% funded of $1,212 goal
0
days left
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
This requested amount will be used as broken down: KES 28, 000 of this loan will go into making renovations to my store in terms of expanding its space and increasing more display units so as to accommodate for the extra business that I anticipate to generate. In harmony to the same strategy, KES 45, 000 will go to increasing my stock of more wines and spirits, so as to accommodate for the said expansion plans. I also intend on acquiring a new refrigerator that will cost approximately KES 24, 000. The remaining amount of will be use to hedge for any unseen costs, which amounts to just about KES 4, 000. All this will total to roughly KES 101, 000. I will gladly accept your contributions and honor my obligation as I have done in the previous loan. Thank you in advance.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,212.00
Date disbursed
Nov 5, 2012
Repayment status
Late
Projected term
15 months
Other loans
Lenders
Southampton, United Kingdom
Rotterdam, Netherlands
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