Solar panels and energy saving bulbs
Jacob
Port Victoria, Kenya
$0 to go
100% funded of $1,188 goal
0
days left
Entrepreneur
Name
Jacob
Member since
September 2015
On-time repayments
80 installments • 66%
About Me
I am Jacob Okwara,I hold diploma in renewable energy and natural resource management. my life as a young man was not easy because of the extreme poverty,and was majorly characterized with skipping meals, walking long distances to school and lack of quality basic health care.
I was keen to help my community in any way I could and one major area that was making us lag behind was lack of electricity and source of clean. I knew solar lamps were a quick solution that could fix the problem cheaply. I went for a loan in a local bank to fiance my ambitious project but I was disappointed because the wanted something more than just a business plan ,they wanted collateral ,and i did have anything to attach. lucky enough I got a job and was able to raise $300 after three months,I knew these was little but could be enough for start up. I decided to resign to pursue my dreams. The business is now 8 months old and doing well.
I love reading novels,giving motivational speeches and just helping my community get out of extreme poverty.
My Business
I sale solar panels,chargers and lamps to my community.since the community is majorly comprised of pro poor ,i have introduce a system that allows them to pay for 85% value of the commodity and clear the balance later. the system allows me to get my capital back in case of bad debt.
due to lack of electricity connection in the area the solar power is cheap and clean source of energy to the community.
My monthly typical costs are $200 and my monthly profits are $300 . i use my profits to pay fees for my siblings ,pay for my bills and take care of my aging parents.
Loan Proposal
Dear lenders
Receive much greetings from me and my family,I hope you are well and you familly too is well.I am applying for $1170 loan that would help me take my business to another level. I would use the money to expand my business and buy solar panels and bulbs in bulk to enjoy economies of scale. I expect my income to increase by $300 per month. Solar energy is clean energy and help save environment,Please help me ensure more families access solar energy,thank you in advance
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,188.00
Date disbursed
Oct 16, 2016
Repayment status
Late
Projected term
6 months
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Summary
Amount repaid
$0.00
Amount remaining
$1,187.57
Expected completion
Apr 23, 2017
Status
Repaying late
Installment amount
$45.37
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Oct 23, 2016 | $45.37 | ||
| Oct 30, 2016 | $45.37 | ||
| Nov 6, 2016 | $45.37 | ||
| Nov 13, 2016 | $45.37 | ||
| Nov 20, 2016 | $45.37 | ||
| Nov 27, 2016 | $45.37 | ||
| Dec 4, 2016 | $45.37 | ||
| Dec 11, 2016 | $45.37 | ||
| Dec 18, 2016 | $45.37 | ||
| Dec 25, 2016 | $45.37 | ||
| Jan 1, 2017 | $45.37 | ||
| Jan 8, 2017 | $45.37 | ||
| Jan 15, 2017 | $45.37 | ||
| Jan 22, 2017 | $45.37 | ||
| Jan 29, 2017 | $45.37 | ||
| Feb 5, 2017 | $45.37 | ||
| Feb 12, 2017 | $45.37 | ||
| Feb 19, 2017 | $45.37 | ||
| Feb 26, 2017 | $45.37 | ||
| Mar 5, 2017 | $45.37 | ||
| Mar 12, 2017 | $45.37 | ||
| Mar 19, 2017 | $45.37 | ||
| Mar 26, 2017 | $45.37 | ||
| Apr 2, 2017 | $45.37 | ||
| Apr 9, 2017 | $45.37 | ||
| Apr 16, 2017 | $45.37 | ||
| Apr 23, 2017 | $7.84 | ||
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