Expansion of mpesa mobile banking services

Anne

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Anne

Member since

March 2015

On-time repayments

97 installments  •  8%

About Me

I own a beauty and cosmetics shop. I have been operating this shop for the last three and half years. My business has picked and is a favorite shopping site to most customers. While operating my business, I noted a business opportunity which I can venture in. In the area my business is located, there is no reliable mobile money transfer agent point yet mobile banking is considered reliable money transfer service in my area and across the country. I have already ordered for one MPESA agent line and done all required preparations like putting metallic grill in my shop to secure the area and painted the required Mpesa money transferring agent color green. However, I am yet to start operating because I do not have enough money (float) to operate.

My Business

I will get the income to repay the loan from the profit I will get from the MPESA money transfer service I will be offering. Mpesa is a mobile banking popular in our country especially since access to banking services especially among people in the informal sector is limited. Hence, I expect to get good returns from the business venture. I can also use the profit I get from the sales of my beauty and cosmetics products to repay the loan.

Loan Proposal

I used my first loan to open an mpesa mobile banking services. The business started well and each day I record new customers. This has also led to growth of my cosmetic s shop which share the same premises. Intend to use the second loan to add the current operating cash from Ksh 35,000($380) to Ksh 45,000 to be able to serve more customers. This will inturn increase the amount of commission I get from the Mpesa service provider Safaricom.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$94.00

Date disbursed

Jul 27, 2015

Repayment status

On Time

Projected term

20 months

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  • Anne    Nov 9, 2018

    This loan will make me expand my business abit hence making my repayment mode shorter n increasing my loan limit

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  • Ndungu    Jan 27, 2016

    Dear lenders, I phoned to Anne today and she told me that she has been having a some financial crisis. She has however recovered and she will start paying her loan as from next week.

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  • Ndungu    Oct 6, 2015

    Dear lenders, I spoke to Anne today and she promised to make her overdue payments tomorrow. Thank you for your patience.

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  • Anne    Sep 9, 2015

    I hereby request to temporarily reduce the amount I am repaying. The loan has helped me expand my Mpesa per day transactions. I will be increasing the amount I pay per week after two weeks. Thank you

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  • Ndungu    Aug 26, 2015

    Dear lenders, I called Anne earlier today and she promised to pay all her overdue installments this coming Sunday. Thank you for your patience.

    VM.

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  • Anne    Aug 7, 2015

    Thank you lenders for the loan I was recently given, after adding it into my Mpesa operating float I am now able to serve more customers which will inturn translate to higher commission from mobile money service provider;safaricom

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  • Anne    Jul 27, 2015

    Thank you lenders for funding my loan. I will be adding the cash to my Mpesa mobile money transfer business hence will be able to serve more customers

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  • Anne    Jul 21, 2015

    I used my first loan to expand my business by adding an mpesa outlet. It was a successful project currently I transact over 30 mpesa transactions per day. At times I do not have enough cash (float) to serve my customers. I will use the next loan to add to my float (cash used to operate) so I can be able to serve more customers. Thank you lenders because without your financial help would not have seen my business grow. I will always try my best to promptly repay the loans

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  • Anne    Jun 24, 2015

    I have tried my best to clear my first loan. Thank
    you my lenders for trusting me with your cash, I don't take it for granted. I will be clearing it this week. My MPESA business picked well, I would not have achieved such a business milestone without your help

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  • Anne    May 4, 2015

    I have started operating the money transfer business (mpesa), and will be using the commission I get from the business to repay the loan. I am yet to get first commission hence facing a challenge but I was do my best to ensure I repay the loan within the schedule I gave. I am requesting for understanding from my lenders, thanks

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  • Ndungu    Apr 6, 2015

    Congratulations on having your loan fully funded. Best wishes in your business.

    VM.

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  • Anne    Apr 6, 2015

    I cannot hide my joy today. Even before my loan gets fully funded I feel have achieved. Thank you my lenders. I will keep you updated of the project progress. Thank you once again for lending me a helping hand to expand my business. I can only repay you back by making sure I promptly repay the loan on time. I am happy today

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  • Anne    Apr 6, 2015

    I will be so grateful to lenders if my loan is fully funded. Thank you to those who have already funded it. I will ensure I promptly repay it.

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  • Anne    Mar 30, 2015

    Please lenders help me by funding my project, I rely need the cash for my mobile money transfer business.

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  • Anne    Mar 29, 2015

    Please lenders help me expand my business by funding my loan, I promise to promptly repay the loan.

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  • Ndungu    Mar 20, 2015

    Hi Anne, sorry your loan expired without being funded. Please reapply and post a clear picture at your place of work. Follow those advice given for your application to be funded. Good luck.

    VM.

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    • Anne    Mar 29, 2015

      Is the picture I have currently uploaded clear? Please reply I am in dire need of this loan.

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      • Ndungu    Apr 4, 2015

        This is a much better photo. I am glad you have been placed in featured list which increases your chance of getting funded. Best wishes.

        VM.

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