Entrepreneur
Name
Romsay
Member since
February 2015
On-time repayments
39 installments • 64%
About Me
My name is Romsay mwiti murungi,i was born and raised in MERU. I was 5 years old when I started my primary education at ontulili primary school where completed my primary education in 2004, then joined Kangaita secondary school in 2005 for my high school education, and completed my Kenya Certificate of secondary education in 2008.
The main hardship I encountered after completing high school is raising capital to start my agribusiness which later I did with the first loan and become successful then I relocated to Nairobi City in the year of 2018.
Here, in Nairobi, business was booming well until the year 2020 when coronavirus hits the country affecting business revenues. want my children to get quality education and have all the resources to see them succeed in life. In my part-time, I like reading books on business and also newspapers about financial markets and entrepreneurship articles.
My Business
I have two employees who take care of my Electronic shop and I paid about 100$ per month each. During the start-up of this business, I spend about usd3,000. The services are useful because I offer permanent employment to my employee so that they can take care of their families also. The goods are in high demand such as electricals and other electronics which are in high demand, the only challenges are importation fees and high tax rates from other countries. In electronics, TVs, LED bulbs, and hoofers are in high demand.
I choose this business because I had a passion for Electronics and other gadgets
Monthly I spend about $350 on rentals, and other expenses costs and maintenance. The cost will increase because I want to add gas cylinders to boost revenue in my business. I reinvest part of my profits in my other projects. also use the other part in home improvements.
Loan Proposal
The loan I will acquire I intend to purchase a good health heifer which will at least cost 80$ (Apr 6800kes). Then the remaining 26$(apr2200kes) I will purchase the animal fooder (hay) for all my dairy cows. By add another dairy cow in my agribusiness I expect the increase of my produce which will help me to cater for myself and also help me by paying school fees for my youngest sister who is persuing her secondary education. I expect my business produce to increase therefore I'm expecting the profits to increase at with at least 50$(apr4300kes)
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Apr 7, 2015
Repayment status
On Time
Projected term
4 months
Other loans
Lenders
United States
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