Entrepreneur
Name
Michael
Member since
August 2017
On-time repayments
70 installments • 70%
About Me
I am young entrepreneur building an online bargain retail business. This started as a way to make ends meet in university but has growth to become a source of income beyond school.
My Business
The business is called Below 1000 as it sells items below ksh 1000. This is an attainable price for the majority of the population despite low incomes. I source quality affordable items and sell them.
Loan Proposal
The business is focused on youth aged 15-25 yrs. This is a very large percentage of the Nairobi market and actually Kenya in General. Growth has been quick and steady and with more reinvestment we aim to take control of our costs of goods sold by importing for ourselves the goods we sell. We have outgrown the third parties we used to use because we could not negotiate any further the prices they gave us. In the long term we aim to vertically integrate upwards to have full control of the costs of the business and this loan will go into the first consignment of import materials we need.
We look forward to working with you
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$68.00
Date disbursed
Jun 24, 2019
Repayment status
On Time
Projected term
3 weeks
Other loans
Lenders
United States
United Kingdom
United States
Summary
Amount repaid
$68.98
Amount remaining
$0.00
Date repaid
Jun 25, 2019
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jul 5, 2019 | $23.00 | Jun 25, 2019 | $23.00 |
| Jul 12, 2019 | $23.00 | Jun 25, 2019 | $23.00 |
| Jul 19, 2019 | $22.98 | Jun 25, 2019 | $22.98 |
Ask Michael a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.