Development loan

Entrepreneur

About Me

I am Geoffrey Onyango a member from a family of six.i have three siblings and i am the second born in our family.I got the chance to attend my studies right away from primary level through to high school and currently pursuing a bachelors degree at Mount Kenya University Nakuru Campus.While growing up my biggest wish was to venture into business.It is through this that i happen to be a young enterprenuer running a retail shop alongside an mpesa outlet which is located at weavers area near chief’s office, my business is doing fine here since also the security is good around and therefore the clients don’t fear even to do big shopping here.

My Business

My business serves as my source of income at the moment.I deal with groceries and a number of household goods.these are things that the society can not live without and as a fact i am sure that if i invested more into my shop then i will see my profit margin gradually rise.My sales sum upto around usd 45 per day so that gives a figure of usd 1350 per month.My monthly expenses range from the essential basic needs to miscellaneous.I incur us$ 75 as rent repayment and around us$ 120 for my monthly upkeep.I also pay water and electricity bills of around us$ 10 on a monthly basis.Other expenses are taken care of out of necessity if it should arise.The rise in my total sales is as a result of the introduction of green beans to my shop.This was made able from the first loan i acquired from Zidisha.I am hoping to expand my business by adding more stock as the current stock is not able to meet the current customer demand.

Loan Proposal

I plan to invest more in my shop as the demand is high compared to the supply at the moment.This will greatly boost me financially as it will serve as an expansion project to the shop as a whole.Despite the fact that it will add an insignificant amount of profit to the shop it still has the potential to boost the business as it will ensure that the shop is able to serve more customers hence fitting in the stiff competition in our market today.

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