10 weekly installments • 30%
My name is Mathias Phiri. I am a small scale businessman. I have been engaged in small businesses for a long time and with access to credit, I am determined to grow the business am doing now and build a big number of customers in order to make more revenue and profits to allow for my desired expansion.
My business involves upholstering of used furniture and fixing of dining and living room tables and chairs. I also make stools and side tables. My clients are diverse and include households, companies and community schools. I use only environmentally friendly materials to avoid damaging the environment.
I intend to use this loan to buy an industrial strenght plain to be used on all my secondhand furnither
I will ensure that I repay the loan by repaing more furniture and growing my customer base to increase revenue and profits. I will also use my savings if necessary to help repay the loan.
May 12, 2021
Cost to entrepreneur
Service fee: 5% of $15.99 = $1.02
Credit risk payment: $4.07