Entrepreneur
Name
Samuel
Member since
January 2015
On-time repayments
250 installments • 49%
About Me
My name is Samuel Kangethe, a father of two children – a boy aged 13 years and a girl aged 9 years. I live with them and my wife in Mombasa city. I was born to peasant farmers in Central region of Kenya 44 years ago.
I went to school up to secondary level and later joined a mechanical engineering college where I trained as an auto-motive technician. I tried my hand as a mechanic but later lost interest in the job and got employed as a public bus driver. I did this job for five years, where I faced a lot of difficulties like police harassment. This made me quit and I relocated to Mombasa to search for greener pastures.
I opened a music shop and later decided to sell used clothes in the same premises so as to supplement my income. This is what I do to date and I make enough profit to support my family and my parents back home.
My Business
I source my music from music producers, artistes and local agents. The business is profitable since Mombasa is a big town with a high population which ensures that there is a constant demand for music especially from the youths. I make a profit of about $300 from this venture.
I get clothes for my shop from local dealers and then I retail them. Just like the music business, there is a constant demand for clothes due to the high population and the friendly cost of my products. I do it on a small scale and I make a profit of about $150 from this department.
My main reason for asking for this loan is to strengthen the used clothes section which will see an increase of sales hence improved profits.
Loan Proposal
With the amount from this loan, I will be able to buy a bale of assorted second hand clothes to sell from my outlet. I am very excited about it since it will attract customers to my shop since they are always on the lookout for 'new arrivals'. I normally record good sales the first few days after receiving a new bale since the word spreads very fast and the prospective buyers come in their droves like miners prospecting for valuable gems.
If I get good stuff, I will be able to recover my expenses within a month and make a tidy profit of about $100. This is over and above what I normally make in a month.
Kindly fund this loan as you join me in my journey of faith and success.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$130.00
Date disbursed
Mar 18, 2015
Repayment status
On Time
Projected term
4 months
Other loans
Lenders
Summary
Amount repaid
$136.95
Amount remaining
$0.00
Date repaid
Aug 18, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Mar 29, 2015 | $10.53 | Mar 30, 2015 | $10.53 |
| Apr 5, 2015 | $10.53 | Mar 30, 2015 | $0.46 |
| Apr 14, 2015 | $10.07 | ||
| Apr 12, 2015 | $10.53 | Apr 14, 2015 | $0.48 |
| Apr 22, 2015 | $10.04 | ||
| Apr 19, 2015 | $10.53 | Apr 22, 2015 | $0.51 |
| May 6, 2015 | $10.02 | ||
| Apr 26, 2015 | $10.53 | May 6, 2015 | $10.53 |
| May 3, 2015 | $10.53 | May 6, 2015 | $1.43 |
| May 26, 2015 | $9.10 | ||
| May 10, 2015 | $10.53 | May 26, 2015 | $1.89 |
| Jun 23, 2015 | $8.64 | ||
| May 17, 2015 | $10.53 | Jun 23, 2015 | $2.35 |
| Jun 30, 2015 | $8.18 | ||
| May 24, 2015 | $10.53 | Jun 30, 2015 | $2.81 |
| Jul 7, 2015 | $7.71 | ||
| May 31, 2015 | $10.53 | Jul 7, 2015 | $3.27 |
| Jul 21, 2015 | $7.25 | ||
| Jun 7, 2015 | $3.74 | Jul 21, 2015 | $3.74 |
| Jun 14, 2015 | $0.00 | ||
| Jun 21, 2015 | $0.00 | ||
| Jun 28, 2015 | $0.00 | ||
| Jul 5, 2015 | $0.00 | ||
| Jul 12, 2015 | $0.00 | ||
| Jul 19, 2015 | $0.00 | ||
| Jul 26, 2015 | $8.79 | Jul 28, 2015 | $8.79 |
| Aug 2, 2015 | $8.79 | Aug 10, 2015 | $8.79 |
| Aug 9, 2015 | $8.79 | Aug 10, 2015 | $0.55 |
| Aug 18, 2015 | $8.24 | ||
| Aug 16, 2015 | $1.56 | Aug 18, 2015 | $1.56 |
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