Phillip
Kahawa, Kenya
100% repaid
Name
Phillip
Member since
August 2016
On-time repayments
15 installments • 87%
I grew up in rural Kenya and was able to get my basic education before moving out for post-secondary school studies. Still, due to music being part of the culture I grew up on, plus the fact that there was much talent around and people to support it, I ventured into the creative industry and finally into promoting music and musicians. It was first at first since I began when I was in college and had less knowledge, let alone experience, but due to online research i was able to gather all that i needed and thus got to start off, by organizing campus events and still now my pass time is spent researching industry trends.
The business revolves around promoting music content and the musicians' profiles and this is done through merchandising, marketing and content sales strategies. Africa is a singing continent and, considering how much its embedded into culture, venturing into this industry is more-than-double rewarding for investor and society. The costs are mainly for operation and those of producing and marketing merchandise while also promoting content. Proceeds are mainly invested since I have few dependents as at now.
The loan will be used to fund our our inventory of music merchandise like tee-shirts and caps. A fully-branded shirt costs $ 0. 40 while caps are at $ 0.30 This will help increase the time we take to process orders for such products to the musicians' fans. The profits will not increase as yet but we expect the number of purchases to increase with more investments since delayed deliveries, caused by poor cash flows, have been discouraging future purchases. Such will help us in future to increase merchandise quality.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$11.00
Date disbursed
Sep 4, 2016
Repayment status
On Time
Projected term
6 weeks
Other loans
Amount repaid
$11.01
Amount remaining
$0.00
Date repaid
Sep 28, 2016
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Sep 11, 2016 | $2.01 | Sep 28, 2016 | $2.01 |
Sep 18, 2016 | $2.01 | Sep 28, 2016 | $2.01 |
Sep 25, 2016 | $2.01 | Sep 28, 2016 | $2.01 |
Oct 2, 2016 | $2.01 | Sep 28, 2016 | $2.01 |
Oct 9, 2016 | $2.01 | Sep 28, 2016 | $2.01 |
Oct 16, 2016 | $0.94 | Sep 28, 2016 | $0.94 |
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