Buy materials for my wedding workshop

Patrick

Eldoret, Kenya

27% repaid

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How it Works

Entrepreneur

Name

Patrick

Member since

February 2015

On-time repayments

125 installments • 16%

About Me

My name is Patrick Amugamwa iam amarried man age 30 years.Iam the soul bread winner of my family of four.I studied at mapera primary school,I droped out of school at my o level which forced me to look for temporary jobs and found some money that helped me to start these small business.Despise a lot of challenges iam still moving on.I come from western Kenya a place called Kakamega but currently living in Eldoret.I have been living in these town for the past fifteen years.

My Business

I have been operating for the last 10 years ,Because of ever increasing Population In Eldoret people are building houses every day.Thus the demand is high.I buy my material from the near by hardware I make doors and windows using metals.The cost of running the business monthly is 10,000/=.
The following is how I normally use profit from the business
10%I give tithe to the Church
70%Up keep i.e Food and rent
5% Savings
15% I support my aged mother and sisters in law.

Loan Proposal

Dear lenders, in my business I do welding using solders and also different shapes of iron bars and plates at times.

If my loan is funded, I will be able to buy 3 packets of solders at 3,300KES , in US$35 and the remaining amount will use to buy iron bars and plates 5734KES, in US$65. This will increase my profit margin by at least 2% which is about 1500KES and enable my customers to get most things they need from me without having to walk looking for the goods.

Looking forward to my second loan being funded. Once again, thank you for having funded my previous loan.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$94.00

Date disbursed

Aug 7, 2015

Repayment status

Late

Projected term

24 months

Other loans

Feb 2015: $100

Lenders

Tmann

Los Angeles, United States

nicole

Worcester, Ma, United States

andyfletcher

I want my "My loans" page back, Qatar

Jonas Sweep

Utrecht, Netherlands

marcelitohb

Bremen, Germany

Andy

Berlin, United States

dlpringle

Denver, United States

mepster

San Francisco, Ca, United States

Taiwan

Innsbruck, Austria

United States

Costa Rica

United States

Dortmund, Germany

Ireland

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Patrick Mar 1, 2016

My business is not doing well

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Jon Oct 2, 2015

Hi Patrick,
I am wondering the same as Andyfletcher, is all OK with your business? and wondering why repayments are not being made?
Please let us know as early as possible.

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A
andyfletcher Oct 1, 2015

Hello Patrick,
Is everything going well? Any news of your repayments?

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Patrick Aug 6, 2015

Dear lenders,

Thank you so much for funding my loan.

As stated in my loan application, I will buy materials for my welding workshop. This will enable me to make the required stock for my customers thus enhancing my business and enabling my customers most of they may want.

Once again thank you so much.

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Patrick Jul 30, 2015

I was able to buy the machine that is I am now saving on the amount I had been using to hire the machine at 50 KES. per day whic brings the total amonut saved to 3,000 KES.

That amount has been ploughed back to the business hence also increasing my stock for the business .

Once again, thank you so much for funding my first loan.

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Patrick Jun 6, 2015

Dear lenders,
I am requesting to reduce my installment to the above amount because the business has really gone down due to lots of rain during this time.

I hope to increase the installment once the business improves.

Thank you for considering my request.

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Geoffrey May 30, 2015

DEAR LENDERS
JUST TO UPDATE YOU ON THE STATUS OF MR PATRICK,I MANAGED TO TALK TO HIM TODAY AGAIN HE STILL SAYS THAT WE SHOULD GIVE HIM ONE MORE WEEK FOR HIM TO ORGANIZE HIMSELF THEN HE WILL REPAY THE WHOLE OUTSTANDING

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Geoffrey Apr 28, 2015

DEAR LENDERS
JUST TO UPDATE YOU ON THE STATUS OF MR PATRICK,I MANAGED TO TALK TO HIM OVER THE PHONE TODAY HE SAYS HE HAD CHALLENGE IN REPAYMENT OF HIS LOAN BECAUSE OF FUNERAL ,HE LOST OF HIS RELATIVES BUT PROMISED TO RESUME REPAYMENT TODAY.

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