Distributing clean LPG cooking fuel
Olumide
Badagry, Nigeria
100% repaid
Entrepreneur
Name
Olumide
Member since
December 2018
On-time repayments
180 installments • 100%
About Me
I am a first degree holder of Obafemi Awolowo University Ile - Ife, and currently enrolled for a Master of Business Administration degree of the National Open University of Nigeria. I possess well over 11 years post NYSC business management experience having completed youth service in 2008. I was awarded a commendation letter for outstanding performance on behalf of the Gombe State Government, by my place of primary assignment in 2008. I have attended several Entrepreneurship trainings (both paid and free) including a 5-day YESP training sponsored by the Bank of Industry at the Lagos Business School in 2016. The Nigerian business environment, where I operate, though quite challenging, but at the same time very ineresting. Of the numerous challenges Entrepreneurs are facing in Nigeria, accessing affordable funding for business scaling and expansion stands out.
My Business
We are in the business of retailing cooking gas to both domestic as well as industrial users in our community. We also trade cooking gas cylinders and accessories. We hope to diversify into repairs and servicing of faulty gas stoves as well as training youths on refilling operations as well as repairs and servicing to empower the teeming unemployed youths in our community. The business currently operate from the ancient town of Badagry, Lagos State of Nigeria.
Loan Proposal
We intend to acquire an LPG dispenser with this loan as this will enable us eliminate shortages associated with manual refilling. This will boost our profit by an estimated 25%
Income Source
Repaying this loan won't be an issue as LPG just like food is an essential commodity that is guaranteed to sell no matter the circumstances
My Videos
Jan 24, 2021: Gas plaza video
Feedback
Positive
3
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$1,100.00
Date disbursed
Oct 6, 2020
Repayment status
On Time
Projected term
4 months
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Summary
Amount repaid
$1,100.00
Amount remaining
$0.00
Date repaid
Jan 24, 2021
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Oct 16, 2020 | $91.67 | Oct 17, 2020 | $91.67 |
| Oct 23, 2020 | $0.00 | ||
| Oct 30, 2020 | $28.06 | Oct 30, 2020 | $28.06 |
| Nov 6, 2020 | $0.00 | ||
| Nov 13, 2020 | $28.06 | Nov 14, 2020 | $28.06 |
| Nov 20, 2020 | $28.06 | Nov 20, 2020 | $28.06 |
| Nov 27, 2020 | $28.06 | Nov 27, 2020 | $28.06 |
| Dec 4, 2020 | $28.06 | Dec 5, 2020 | $28.06 |
| Dec 11, 2020 | $28.06 | Dec 10, 2020 | $28.06 |
| Dec 18, 2020 | $91.67 | Dec 18, 2020 | $28.34 |
| Dec 20, 2020 | $63.32 | ||
| Dec 25, 2020 | $91.67 | Dec 26, 2020 | $91.67 |
| Jan 1, 2021 | $91.67 | Jan 1, 2021 | $91.67 |
| Jan 8, 2021 | $91.67 | Jan 9, 2021 | $91.67 |
| Jan 15, 2021 | $91.67 | Jan 16, 2021 | $91.67 |
| Jan 22, 2021 | $91.67 | Jan 23, 2021 | $91.67 |
| Jan 29, 2021 | $91.67 | Jan 24, 2021 | $91.67 |
| Feb 5, 2021 | $91.67 | Jan 24, 2021 | $91.67 |
| Feb 12, 2021 | $91.67 | Jan 24, 2021 | $91.67 |
| Feb 19, 2021 | $14.95 | Jan 24, 2021 | $14.95 |
Margaret Oct 1, 2019
Michael Thurm Jul 1, 2019
Anonymous Feb 20, 2019
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