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 increase my stock to avoid issues of running out of stock most of the time. I will be able to retain my customers, acquire new ones thus increasing my sales volume and more sales means more profit. I will reinvest the profit and donate some to children's home around me. I expect my profit to increase from kes 3500-7000 daily.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$450.00
Date disbursed
Jan 20, 2017
Repayment status
On Time
Projected term
4 months
Other loans
Amount repaid
$449.88
Amount remaining
$0.00
Date repaid
May 31, 2017
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Jan 27, 2017 | $24.18 | Feb 3, 2017 | $24.18 |
Feb 3, 2017 | $24.18 | Feb 3, 2017 | $16.12 |
Feb 16, 2017 | $8.06 | ||
Feb 10, 2017 | $24.18 | Feb 16, 2017 | $24.18 |
Feb 17, 2017 | $24.18 | Feb 16, 2017 | $16.12 |
Feb 17, 2017 | $8.06 | ||
Feb 24, 2017 | $24.18 | Feb 25, 2017 | $24.18 |
Mar 3, 2017 | $24.18 | Feb 25, 2017 | $24.18 |
Mar 10, 2017 | $24.18 | Mar 9, 2017 | $24.18 |
Mar 17, 2017 | $24.18 | Mar 15, 2017 | $24.18 |
Mar 24, 2017 | $24.18 | Mar 21, 2017 | $24.18 |
Mar 31, 2017 | $24.18 | Mar 30, 2017 | $24.18 |
Apr 7, 2017 | $24.18 | Apr 14, 2017 | $24.18 |
Apr 14, 2017 | $24.18 | Apr 14, 2017 | $24.18 |
Apr 21, 2017 | $24.18 | Apr 20, 2017 | $24.18 |
Apr 28, 2017 | $24.18 | Apr 28, 2017 | $24.18 |
May 5, 2017 | $24.18 | May 5, 2017 | $24.18 |
May 12, 2017 | $24.18 | May 5, 2017 | $24.18 |
May 19, 2017 | $24.18 | May 19, 2017 | $24.18 |
May 26, 2017 | $24.18 | May 26, 2017 | $24.18 |
Jun 2, 2017 | $14.72 | May 31, 2017 | $14.72 |
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