Beauty products and back-up generator for my salon
Donald Osiemo
Nairobi, Kenya
$0 to go
100% funded of $597 goal
0
days left
Entrepreneur
Name
Donald Osiemo
Member since
August 2020
On-time repayments
48 installments • 42%
About Me
Born in a polygamous family, I am the second born to my mom. Mom being unemployed and entirely dependent on peasantry we could hardly make ends meet. I am thankful that this life did not end my dreams but refined my approach, that through the small entrepreneurial adventures from my childhood through to this day I have been able to beat odds.
My Business
My business is an executive salon in the heart of Rongai area which I have done for more than 4 years. I have also secured space in the neighborhood where I opened a Kinyozi which is now picking and I intend to make it high end as the market is generally made of the working class, and I believe with time this will increase revenue and better my life.
Loan Proposal
I will use the money from this loan to buy a standby power generator that will help ensure business operations run uninterruptedly even when there's power failure. I will also use the balance to buy more beauty products for both use in the salon and retail sales
Income Source
Yes, the current economic climate poses many risks. I however have learnt how to cope, and put in place measures that have seen my business run seamlessly, and especially complying with government directives to prevent the spread of Covid-19. I am therefore confident to raise enough money from my business to repay the loan within the given repayment schedule
Feedback
Positive
2
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$597.30
Date disbursed
May 15, 2021
Repayment status
Late
Projected term
6 months
Cost to entrepreneur
Service fee: $26.37
Credit risk payment:
$105.49
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