Fredrick
Kisumu, Kenya
100% repaid
Name
Fredrick
Member since
January 2016
On-time repayments
183 installments • 65%
I was raised by my grandmother from a humble background after the death of my mum who passed away when I was eight years old. I passed through hardship but I was successful to get education which provided me with enough knowledge and skills to be an entrepreneur. I have been idenfying numerous business ideas and opportunities but have never been able to implement the idea due to Lack of funds. Out of my ideas, I decided to pick on wines and spirit business which is a very profitable business in our country.
As you may know, in our country about 60% in every area drinks regularly while about 40% drinks daily spending an average of kes 150 daily per person according to the recent research carried out by NACADA. The demand for wines and spirit has been so high in my shop that most of the time I usually run out of stock because I have been stocking insufficient stock due to lack of enough stock. I would like to add a stock of kes 150, 000 to cater for the high demand. This will ensure that I retain more customers and my sales volume will be high hence more profit. As a result, I will be able to repay all the loan on time
I will use the loan to obtain a liquor license which will enable me to operate my business smoothly without frequent harassment from the local authorities. As I said earlier, total licenses cost $720 but am going to start with a liquor license which costs & 500.
The business will help me in improving my life and creating a job for my employee. Liquor license will increase the profit since I will not be paying expensive bribes to the authorities.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$302.00
Date disbursed
May 30, 2016
Repayment status
On Time
Projected term
3 months
Other loans
Amount repaid
$317.10
Amount remaining
$0.00
Date repaid
Sep 16, 2016
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Jun 12, 2016 | $20.29 | Jun 12, 2016 | $20.29 |
Jun 19, 2016 | $20.29 | Jun 12, 2016 | $20.29 |
Jun 26, 2016 | $20.29 | Jul 2, 2016 | $20.29 |
Jul 3, 2016 | $20.29 | Jul 2, 2016 | $20.29 |
Jul 10, 2016 | $20.29 | Jul 10, 2016 | $20.29 |
Jul 17, 2016 | $20.29 | Jul 10, 2016 | $20.29 |
Jul 24, 2016 | $20.29 | Aug 2, 2016 | $20.29 |
Jul 31, 2016 | $20.29 | Aug 2, 2016 | $20.29 |
Aug 7, 2016 | $20.29 | Aug 8, 2016 | $20.29 |
Aug 14, 2016 | $20.29 | Aug 8, 2016 | $20.29 |
Aug 21, 2016 | $20.29 | Aug 26, 2016 | $20.29 |
Aug 28, 2016 | $20.29 | Aug 26, 2016 | $20.29 |
Sep 4, 2016 | $20.29 | Sep 8, 2016 | $20.29 |
Sep 11, 2016 | $20.29 | Sep 8, 2016 | $20.29 |
Sep 18, 2016 | $20.29 | Sep 16, 2016 | $20.29 |
Sep 25, 2016 | $12.80 | Sep 16, 2016 | $12.80 |
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