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
As part of our growth plan, we want to stop working with one of the middlemen within our value chain and work with a distributor. This will increase our gross margin between 4%-10% based on different products. The money raised will be used to meet minimum order quantities of the distributor as well as meet transportation costs.
This will go a long way in building our own cash reserves for bigger projects that will be undertaken in 2020.
Thank you for your time
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Loan Info
Project Type
Classic Loan
Disbursed amount
$226.00
Date disbursed
Jun 25, 2019
Repayment status
On Time
Projected term
7 weeks
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
Summary
Amount repaid
$226.25
Amount remaining
$0.00
Date repaid
Jul 24, 2019
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jul 5, 2019 | $0.00 | ||
| Jul 12, 2019 | $34.49 | Jul 11, 2019 | $34.49 |
| Jul 19, 2019 | $34.49 | Jul 11, 2019 | $34.49 |
| Jul 26, 2019 | $34.49 | Jul 24, 2019 | $34.49 |
| Aug 2, 2019 | $56.56 | Jul 24, 2019 | $56.56 |
| Aug 9, 2019 | $56.56 | Jul 24, 2019 | $56.56 |
| Aug 16, 2019 | $9.66 | Jul 24, 2019 | $9.66 |
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