Name
Patrick
Member since
September 2017
On-time repayments
34 installments • 47%
My name is Patrick onyango. I was born 1996 in kisumu, Kenya. I was brought to nakuru in 2006 to live with my uncle who was a great business man. I used to go to school and on weekends I work in my uncle's shop. I there for grow a great interest in Business. After I finished my secondary education I joined egerton university where I pursued a degree In business management. I worked with private company for one year where I was able to save money from the salary which I was paid on a monthly basis. On the January 2018 I had a total of 75,000Ksh with which I was in good position financially to start a small business venture. My business of choice was maize Selling. I purchased poshomill which costed 60000. I used the remaining 15000 to buy inventory and the set up of the business.
My business involves buying maize from farmers and wholesalers and then I sell it to the consumers in the urban area of nakuru where my business is located. I sell it in three forms because of different customer preferences. I sell it as unprocessed maize for customers who go to stock it in their homes, secondly as maize flour where I process it using my poshomill and lastly as an improved maize flour commonly called number one. It is relatively a profitable
business in Kenya because it has got a steady supply and also ready market . As any business I face a lot of challanges. First, stiff competition from well developed maize millers. Second, inadequate capital to purchase more stock for my business.
With the loan I will be able to take advantage of the next harvesting season which will be in one month time from now. I will buy more stock at a very cheap price because the supply will be high since the farmers harvest at the same time. Having done this I will be able to compete with my competitors at a more fair level which will see the turnover of my stock improve drastically which in turn translates to more profit. Then I will be able to pay the loan with ease and borrow again.
My business has not been adversely affected by corona in economic terms since I deal with selling of maize which is staple food in my country. People therefore treat it as a basic need so my business as been operating as usual. I have even experienced a boom since the corona outbreak since most families are at home so the consumption. Therefore I will be able to repay the loan
Positive
1
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$85.00
Date disbursed
Jul 23, 2020
Repayment status
Late
Projected term
2 months
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Amount repaid
$29.46
Amount remaining
$56.46
Expected completion
Oct 18, 2020
Status
Repaying late
Installment amount
$2.97
Expected Payments | Actual Payments | ||
---|---|---|---|
Aug 2, 2020 | $14.33 | Jul 29, 2020 | $9.85 |
Jul 29, 2020 | $3.94 | ||
Aug 4, 2020 | $0.53 | ||
Aug 9, 2020 | $14.33 | Aug 4, 2020 | $0.35 |
Aug 14, 2020 | $13.97 | ||
Aug 16, 2020 | $0.81 | Aug 14, 2020 | $0.81 |
Aug 23, 2020 | $0.00 | ||
Aug 30, 2020 | $2.97 | ||
Sep 6, 2020 | $2.97 | ||
Sep 13, 2020 | $2.97 | ||
Sep 20, 2020 | $2.97 | ||
Sep 27, 2020 | $2.97 | ||
Oct 4, 2020 | $14.33 | ||
Oct 11, 2020 | $14.33 | ||
Oct 18, 2020 | $12.98 |
Helen Horseman Oct 17, 2017
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