Below_1000 growth phase 2

Michael

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Michael

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

As part of our growth plan, we want to stop working with one of the middlemen within our value chain and work with a distributor. This will increase our gross margin between 4%-10% based on different products. The money raised will be used to meet minimum order quantities of the distributor as well as meet transportation costs.

This will go a long way in building our own cash reserves for bigger projects that will be undertaken in 2020.

Thank you for your time

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$226.00

Date disbursed

Jun 25, 2019

Repayment status

On Time

Projected term

7 weeks

Lenders

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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Summary

Amount repaid

$226.25

Amount remaining

$0.00

Date repaid

Jul 24, 2019

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
Jul 5, 2019 $0.00
Jul 12, 2019 $34.49 Jul 11, 2019 $34.49
Jul 19, 2019 $34.49 Jul 11, 2019 $34.49
Jul 26, 2019 $34.49 Jul 24, 2019 $34.49
Aug 2, 2019 $56.56 Jul 24, 2019 $56.56
Aug 9, 2019 $56.56 Jul 24, 2019 $56.56
Aug 16, 2019 $9.66 Jul 24, 2019 $9.66

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