Below_1000 expansion

Michael Murage

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Michael Murage

Member since

August 2017

On-time repayments

70 installments  •  70%

About Me

I am young entrepreneur building an online bargain retail business. This started as a way to make ends meet in university but has growth to become a source of income beyond school.

My Business

The business is called Below 1000 as it sells items below ksh 1000. This is an attainable price for the majority of the population despite low incomes. I source quality affordable items and sell them.

Loan Proposal

The business is focused on youth aged 15-25 yrs. This is a very large percentage of the Nairobi market and actually Kenya in General. Growth has been quick and steady and with more reinvestment we aim to take control of our costs of goods sold by importing for ourselves the goods we sell. We have outgrown the third parties we used to use because we could not negotiate any further the prices they gave us. In the long term we aim to vertically integrate upwards to have full control of the costs of the business and this loan will go into the first consignment of import materials we need.

We look forward to working with you

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$68.98

Date disbursed

Jun 24, 2019

Repayment status

On Time

Projected term

3 weeks

Cost to entrepreneur

Service fee: $2.91

Credit risk payment: $3.49

Lenders

P

Pengetilafrika

Mårslet, Denmark

M

Moonknight

Østre Gausdal, Norway

O

Ohio

Ohio, United States

dmirpuri

Bangkok, Thailand

S

Stephan

Netherlands

A

Andrei

United States

HCPSPIRIT

Helsinki, Finland

MH

Matt Hodges

United Kingdom

DO

Denis Ontiveros

Guildford, United Kingdom

RS

Ralph Smyth

United Kingdom

GF

Gammon Family

United States

R

Rafael

Switzerland

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