Entrepreneur
Name
Alex
Member since
December 2014
On-time repayments
340 installments • 88%
About Me
My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.
I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.
I made savings which enabled me to open a small electrical shop which I am running to date.
I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.
My Business
My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.
I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This is the main reason why I started this business since I wanted to get a market share of the boom.
I make a profit of about $380 which I use to support my family and also for business expansion.
Loan Proposal
If given this loan I will use the money to buy two boxes of energy saving bulbs. Each box contains 50 pieces at a cost of $150 per box. I have decided to build this stock since the government is currently doing a campaign of replacing filament bulbs with more eco friendly energy saving type.
If successful I will apply to supply these bulbs to a number of buildings in the town and also retail them to domestic users. If all goes well, I will make a profit of $60 which I hope to put back into the business (while still repaying this loan). I am hoping to reap good benefits from this arrangement thus I am anticipating a steep growth of my business in days ahead.
About Me
My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.
I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.
I made savings which enabled me to open a small electrical shop which I am running to date.
I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.
My Business
My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.
I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This it the main reason why I started this business since I wanted to get a market share of the boom.
I make a profit of about $480 which I use to support my family and also for business expansion.
Loan Proposal
If given this loan I will use the money to buy two boxes of energy saving bulbs. Each box contains 50 pieces at a cost of $150 per box. I have decided to build this stock since the government is currently doing a campaign of replacing filament bulbs with more eco friendly energy saving type.
If successful I will apply to supply these bulbs to a number of buildings in the town and also retail them to domestic users. If all goes well, I will make a profit of $60 which I hope to put back into the business (while still repaying this loan). I am hoping to reap good benefits from this arrangement thus I am anticipating a steep growth of my business in days ahead.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$267.00
Date disbursed
Jan 28, 2015
Repayment status
On Time
Projected term
9 months
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Summary
Amount repaid
$289.76
Amount remaining
$0.00
Date repaid
Jul 27, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Feb 8, 2015 | $5.07 | Feb 8, 2015 | $5.07 |
| Feb 15, 2015 | $5.07 | Feb 8, 2015 | $5.07 |
| Feb 22, 2015 | $5.07 | Feb 8, 2015 | $5.07 |
| Mar 1, 2015 | $5.07 | Feb 8, 2015 | $5.07 |
| Mar 8, 2015 | $5.07 | Feb 8, 2015 | $2.20 |
| Feb 15, 2015 | $2.87 | ||
| Mar 15, 2015 | $5.07 | Feb 15, 2015 | $2.75 |
| Feb 22, 2015 | $2.31 | ||
| Mar 22, 2015 | $5.07 | Feb 22, 2015 | $5.07 |
| Mar 29, 2015 | $5.07 | Feb 22, 2015 | $5.07 |
| Apr 5, 2015 | $5.07 | Feb 22, 2015 | $5.07 |
| Apr 12, 2015 | $5.07 | Feb 22, 2015 | $4.96 |
| Feb 28, 2015 | $0.11 | ||
| Apr 19, 2015 | $5.07 | Feb 28, 2015 | $5.07 |
| Apr 26, 2015 | $5.07 | Feb 28, 2015 | $5.07 |
| May 3, 2015 | $5.07 | Feb 28, 2015 | $5.07 |
| May 10, 2015 | $5.07 | Feb 28, 2015 | $5.07 |
| May 17, 2015 | $5.07 | Feb 28, 2015 | $2.09 |
| Mar 9, 2015 | $2.98 | ||
| May 24, 2015 | $5.07 | Mar 9, 2015 | $5.07 |
| May 31, 2015 | $5.07 | Mar 9, 2015 | $5.07 |
| Jun 7, 2015 | $5.07 | Mar 9, 2015 | $5.07 |
| Jun 14, 2015 | $5.07 | Mar 9, 2015 | $4.29 |
| Mar 15, 2015 | $0.78 | ||
| Jun 21, 2015 | $5.07 | Mar 15, 2015 | $4.84 |
| Mar 22, 2015 | $0.22 | ||
| Jun 28, 2015 | $5.07 | Mar 22, 2015 | $5.07 |
| Jul 5, 2015 | $5.07 | Mar 22, 2015 | $5.07 |
| Jul 12, 2015 | $5.07 | Mar 22, 2015 | $5.07 |
| Jul 19, 2015 | $5.07 | Mar 22, 2015 | $5.07 |
| Jul 26, 2015 | $5.07 | Mar 22, 2015 | $1.98 |
| Mar 29, 2015 | $3.09 | ||
| Aug 2, 2015 | $5.07 | Mar 29, 2015 | $5.07 |
| Aug 9, 2015 | $5.07 | Mar 29, 2015 | $3.08 |
| Apr 12, 2015 | $1.99 | ||
| Aug 16, 2015 | $5.07 | Apr 12, 2015 | $5.07 |
| Aug 23, 2015 | $5.07 | Apr 12, 2015 | $5.07 |
| Aug 30, 2015 | $5.07 | Apr 12, 2015 | $5.07 |
| Sep 6, 2015 | $5.07 | Apr 12, 2015 | $5.07 |
| Sep 13, 2015 | $5.07 | Apr 12, 2015 | $0.21 |
| Apr 20, 2015 | $4.85 | ||
| Sep 20, 2015 | $5.07 | Apr 20, 2015 | $0.76 |
| May 4, 2015 | $4.30 | ||
| Sep 27, 2015 | $5.07 | May 4, 2015 | $5.07 |
| Oct 4, 2015 | $1.87 | May 4, 2015 | $1.87 |
| Oct 11, 2015 | $22.47 | Jun 16, 2015 | $22.47 |
| Oct 18, 2015 | $22.47 | Jul 21, 2015 | $22.47 |
| Oct 25, 2015 | $22.47 | Jul 21, 2015 | $22.47 |
| Nov 1, 2015 | $22.47 | Jul 21, 2015 | $22.47 |
| Nov 8, 2015 | $25.72 | Jul 27, 2015 | $25.72 |
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