Inventory for money business

Mathew

Utawala-githunguri, Kenya

100% repaid

Entrepreneur

Name

Mathew

Member since

March 2015

On-time repayments

219 installments  •  92%

About Me

I am aged 36 years old married to Judy Waruguru and a father of two boys called Ian Kamau and Melvin Irungu. I am second born in my family of four siblings. I lost my father in the year 2009 after being attacked by thugs and thus we were left with our mother to take care. I finished my O-level in the year 1996 and passed with a B minus grade. I expected to get and admission at a public university but unfortunately I didn’t manage. After two years at home, my parents struggled and enrolled me into a technical college to pursue a diploma in analytical chemistry. After graduating in the year 2001 I moved to Sinai slums in Nairobi which borders industrial area to start looking for jobs. I searched job for 2 years but in vain. I therefore decided to go back to the village to start all over again there. My mother borrowed for me KSh 50,000.00 from women groups so that I can start a small business. I returned to Nairobi now being focused to start a small business. In 2004 I started an M-pesa business within Utawala area and since then it had been supporting me well. Later last year I also started and equity agency to diversify and expand my business.

My Business

I operate a money banking services business notably Mpesa and Equity agency business. Mpesa business is run by the leading mobile subscriber in the county Safaricom whereby customers deposits and withdraws money and in returns your earn a commission at the end of the year. Your commission depends on the number of customers you have served and also the amount of money they have deposited or withdrawn. Other services I do is sim replacement to the customers who might have lost their sim. I also sell new Safaricom lines to new customer and also selling air time to customer. To maximize my profit, I lately I introduced and equity bank agency which operate more or less like Mpesa whereby you earn commission depending on the number of transactions you carry per month. In Equity agency, you also assist in account opening, paying bills and other banking services. In future if I get more funds, am intending to increase the number of banking service like KCB mtaani , Co-operative kwa Jirani agent and Family bank agency.

Loan Proposal

If I get funded, I will use the fund to add float into my Mpesa business ,the equity banking agency and co-operative bank kwa jirani agency. In addition I have also gotten approval to start KCB bank mtaani agency and Family bank pesa pap agency. If the money will be enough, am also planning to start selling electicity tokens. This is because in my area people are using prepaid meters therefore creating a business opportunity for selling the tokens.

Feedback

3

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$92.00

Date disbursed

Aug 9, 2015

Repayment status

On Time

Projected term

4 months

Lenders

Paul Buchheit

Mountain View, United States

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  • Mathew    Oct 29, 2024

    Challenges experienced by business due to ongoing harsh economic times in the country

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  • Mathew    Aug 30, 2024

    Decrease in business turnover due to prevailing economics conditions in the country

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  • Mathew    Jul 22, 2024

    Due to challenging business environment emanating from anti-government protestors

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  • Mathew    May 28, 2024

    Cash flow challenge from my business. This is orchestrated by low purchasing power from customers duet to high taxation in the country

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  • Mathew    Mar 30, 2024

    My business has been having a slow down due to the low purchasing power of the client in the country

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  • Mathew    Jan 30, 2024

    Cash flow problem with due to decline in business performance

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  • Mathew    Nov 30, 2023

    The businesss performance went down due to the high taxation we are currently experiencing in the country

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  • Mathew    Aug 29, 2023

    The business returns is yet to pick due to economic hard times experienced in the country so far

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  • Mathew    Jun 28, 2023

    The business has not yet picked and initially when i was applying i thought the repayment will be in monthly installment and not repaying everything in one month.

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  • Mathew    Jun 28, 2023

    Dear Good lenders
    I have no words to express my sincere appreciation for you funding my project. May you be blessed abundantly. Am sure and believe this funding is going to have a big impact in my business. I want to assure you that i will endeavor to repay this loan on time.
    God bless you and cheers

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  • Mathew    Jun 26, 2023

    Dear Lenders
    Only one day remaining for loan application request. I kindly request you for you support before the deadline elapses.
    Kind regards

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  • Conrad    Jun 24, 2023

    goodluck

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  • Mathew    Jun 24, 2023

    Thanks dear lenders who have believed in my proposal and committed to fund. I will remain vigilant in paying the loan as i had demonstrated in the past. I also continue appealing for more funding to attain 100% before the deadline closes.

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  • Mathew    Jun 19, 2023

    Thank you for supporting me. Am appealing for further support form other lenders to make it reach 100% funding

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  • Mathew    Jun 14, 2023

    Dear Lenders.
    Kindly support my business by contributing to the loan i have raised

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  • Mathew    Jun 29, 2022

    The loan helped me to expand my business thus helping me improve my profit

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  • Mathew    Jul 26, 2019

    Kindly help me on how to claim my refund back.
    I have cleared my loan

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  • Mathew    Jul 26, 2019

    Dear Zidisha
    I have just paid my existing loan in full. Consequently, i write to request for the refund of my Membership Loan Fund. Attached is my an image of my ID
    Regards
    Mathew Kamau

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  • Mathew    Jun 27, 2019

    Am having some cash crunch in my business right now and therefore am not able to raise the current installment am paying

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  • Mathew    Feb 6, 2019

    Thank you lender for supporting me.
    The loan has been disbursed and i have immediately injected it into my business.
    I look forward to repaying it on time.
    Thank you so much.

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