A success story written by the Micro Enterprise team
Jesse Owens says we all have dreams but in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline, and effort. Everyone can want something but few have the determination and patience required to get what they desire. “A dream doesn’t become reality through magic; it takes sweat, determination and hard work.” Colin Powell.
We are proud to share a story of sweat determination and hard work that has led to success. And we are proud because it’s a deserved success and we are just part of the story.
Franklin Mugendi is thirty-three years old and one of the beneficiary of the micro lending program. He is married to Rose Kagwiria and blessed with two children. When we see the progress that he has made to this day, we tend to think that everything good was laid in his path but we are so wrong. His hard work and refusal to play victim is the reason he is where he is today.
Franklin was passionate about getting educated as he saw it as the way he would escape the poverty in his home but he wasn’t so lucky. After completing his secondary education, he couldn’t continue, as his family could no longer afford to keep him in school. This was a period of desperation for him as he tried to figure out what to do with his life now that education was no longer an option for him. He decided to become a casual laborer in an effort to make ends meet. The income he got was hardly enough but he pressed on and worked diligently for one year. His monthly income stood at KES 15000(USD 150)
After one year, he had saved up some money and he decided to start a bakery business. As with any business, the start is the hard part but he pressed on. He run his business from his home where he made hard cakes and sold them at a local market. His hard work soon paid off as he began realizing some profits and the business began to expand rapidly. His hard cakes soon became very popular.
In 2016, he joined Iruma B Self Help Group where he found other entrepreneurs who were passionate about making a difference in their lives. He joined a merry go round and table-banking scheme from which he benefited greatly from. Coupled with the continuous mentorship and business advice he received from HopeCore, he was equipped with knowledge and information crucial for the growth of his business.
In April 2017, the group was funded with a normal loan where he received KES 60,000.00 (USD 600). He invested his loan by buying an oven to help expand his bakery business. He is now able to make a variety of cakes and in a more efficient way. His monthly income currently stands KES 300,000 (USD 3,000) while his monthly expenses currently stand at KES 240,000 (USD 2400). He makes a monthly profit KES 60,000 (USD 600). Since he was awarded the loan in April, his business has grown tremendously and has registered a 1900% increase in income.
With the progress he has made within the first few months of his first cycle, we can only expect his business to continue to thrive and we will be there to support him every step of the way.