Purchase of material for making welding machines
Agustine
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Agustine
Member since
May 2014
On-time repayments
128 installments • 65%
About Me
Am a kenyan aged 27 years.I come from Homabay county, Ndhiwa district,Nyarongi division,Kanyadoto west location,Kabura sub location.I started my primary education at Odhiambo Rambo Primary school where I did my KCPE in the 2003 and attained 324 marks out of 500 marks.I then joined Miranga secondary school Where I did my KCSE in the year 2007.I then joined a college and took engineering in Electrical Rewinders(This is like repair of welding machine, motors Grinders and radio transformers)and attained Diploma.I started this business to help me live a better life and assist my siblings.Have managed to purchase several wires and materials used for making new machines.My hobby is reading novels
My Business
Am currently running a workshop of electrical rewinders in Kayole, these deals with repair and making of new machines used for welding.I will use this loan to purchase more wires like copper,aluminum and transformers costing USD400 and other materials like holders,welding cables,paints costing USD 500 used for making new machines for resale.I intend to pay back this loan with money made from the sale of new machines and repairs made,I expect profit increase of around 250 per month I intend to use this profit on school fees and expanding my business by making more machines.My customers are mostly welders who make steel doors,widows,stair grill,metal beds e.t.c.Customers prefer my machines because they are durable and affordable to all customers compared to my competitors.My business is profitable because we have many customers.My business faces the risk of insecurity but we have mitigate this by employing a security guard.My Monthly cost is a round $850 and my monthly income is around $950.
Loan Proposal
My loan will be used to purchase materials like wires,tapes,angle line,varnish,brash,painting colour and Oil all these are used to make new machines.So I will my loan to purchase them and make new ready made machines for my customers to buy.With the amount am requesting I will be in a position to make ten new machines one costing $117 to make and on resale one will cost$165.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$431.00
Date disbursed
Dec 28, 2014
Repayment status
On Time
Projected term
4 months
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Summary
Amount repaid
$447.47
Amount remaining
$0.00
Date repaid
May 24, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jan 4, 2015 | $21.30 | Jan 4, 2015 | $21.30 |
| Jan 11, 2015 | $21.30 | Jan 11, 2015 | $21.30 |
| Jan 18, 2015 | $21.30 | Jan 18, 2015 | $21.28 |
| Jan 24, 2015 | $0.02 | ||
| Jan 25, 2015 | $21.30 | Jan 24, 2015 | $21.30 |
| Feb 1, 2015 | $21.30 | Jan 31, 2015 | $21.30 |
| Feb 8, 2015 | $21.30 | Feb 8, 2015 | $21.30 |
| Feb 15, 2015 | $21.30 | Feb 15, 2015 | $21.30 |
| Feb 22, 2015 | $21.30 | Feb 20, 2015 | $21.30 |
| Mar 1, 2015 | $21.30 | Feb 28, 2015 | $21.30 |
| Mar 8, 2015 | $21.30 | Mar 8, 2015 | $21.30 |
| Mar 15, 2015 | $21.30 | Mar 15, 2015 | $21.30 |
| Mar 22, 2015 | $21.30 | Mar 20, 2015 | $21.30 |
| Mar 29, 2015 | $21.30 | Mar 29, 2015 | $21.30 |
| Apr 5, 2015 | $21.30 | Apr 3, 2015 | $21.30 |
| Apr 12, 2015 | $21.30 | Apr 9, 2015 | $21.30 |
| Apr 19, 2015 | $21.30 | Apr 17, 2015 | $21.30 |
| Apr 26, 2015 | $21.30 | Apr 26, 2015 | $21.30 |
| May 3, 2015 | $21.30 | May 3, 2015 | $21.30 |
| May 10, 2015 | $21.30 | May 10, 2015 | $21.30 |
| May 17, 2015 | $21.30 | May 17, 2015 | $21.30 |
| May 24, 2015 | $21.40 | May 24, 2015 | $21.40 |
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