George
Nairobi, Kenya
100% repaid
Name
George
Member since
April 2014
On-time repayments
276 installments • 65%
I’m George Omolo; I’m married with three children. I live in mathare are of Nairobi. At first I wanted to be banker. I enrolled for a diploma in banking but, a year later, I drop out of collage due to financial problems. I worked for several companies in Nairobi and Naivasha as a temporary worker. In 2012, with the little saving, I decided to venture into self employment. After learning a few tips from those who were already in that field of fish supply, I went out to market my product. At first, the business has been tricky where I made a few losses, but now it is picking gradually. I like business ideas groups were we share information, motivate each other and on how we can empower the community. Apart from business, I like much of outdoor activities, watching documentaries, technical things and participating in community activities. I like children, and it gives me pleasure to go and show love and have quality time with the orphans and rescued children’s in children’s homes. I’m a friend to two children’s home where I occasionally spend some time with those children.
I am business of supplying fish and chicken to small and medium Hotels and restaurants in Nairobi. I supply; fish fillet, whole fish and chicken products. I started to supply one small restaurant with fish, a month later I managed to get three more restaurants to supply. I realised that there was a huge demand for chicken and chicken products where I added chicken to my list. Most of the small and medium restaurants prefer to buy their food from small suppliers. The small suppliers, supply more fresh goods, can deliver small orders, are timely and flexible as compared to big established companies which tend to be rigid; and have standardized stock.
When the supply is abundant, the price goes down and that is when the profit margin is big on my side. After deducting all my expenses and cost of good, I’m left with some reasonable profit that is enough to carter for me and have some to re-invest in the business. Some of the challenges I face are like are; When a customer fails to pay on time for the good delivered; A customer cancels the order after purchase but before delivery; When the supply of goods in the market is very low while the customer places a big order; Traffic jams delay on the road when going to make delivery of goods to my customers. Despite all of this I still do manage to meet my obligations
I have variety of goods to supply and thus my business requires more capital to buy from different wholesales.
I’m requesting for a funding of $ 1,255
I intent to use the borrowed money as follows;
LENDERS PROTECTION FUND $ 155
CASH TO BUY FRESH FISH, CAPON, BEEF,
MINCED MEAT AND MUTTON $ 1,000
OTHER MINOR EXPENSES AND CONSTIGENT $70
I project of making a profit of between 15%-20%. With this margin, I’ll be able to make enough profit to be able to repay this loan, meet my personal expenses and retain some reasonable profit.
Positive
8
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$1,392.00
Date disbursed
May 19, 2016
Repayment status
On Time
Projected term
6 months
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Amount repaid
$1,461.60
Amount remaining
$0.00
Date repaid
Nov 12, 2016
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
May 29, 2016 | $53.79 | May 29, 2016 | $53.79 |
Jun 5, 2016 | $53.79 | May 29, 2016 | $2.03 |
Jun 4, 2016 | $51.76 | ||
Jun 12, 2016 | $53.79 | Jun 4, 2016 | $9.13 |
Jun 11, 2016 | $44.65 | ||
Jun 19, 2016 | $53.79 | Jun 11, 2016 | $26.39 |
Jun 25, 2016 | $27.40 | ||
Jun 26, 2016 | $53.79 | Jun 25, 2016 | $53.79 |
Jul 3, 2016 | $53.79 | Jun 25, 2016 | $20.30 |
Jul 11, 2016 | $33.49 | ||
Jul 10, 2016 | $53.79 | Jul 11, 2016 | $53.79 |
Jul 17, 2016 | $53.79 | Jul 11, 2016 | $24.36 |
Jul 21, 2016 | $29.43 | ||
Jul 24, 2016 | $53.79 | Jul 21, 2016 | $51.76 |
Jul 25, 2016 | $2.03 | ||
Jul 31, 2016 | $53.79 | Jul 25, 2016 | $47.70 |
Jul 31, 2016 | $6.09 | ||
Aug 7, 2016 | $53.79 | Jul 31, 2016 | $14.21 |
Aug 4, 2016 | $39.58 | ||
Aug 14, 2016 | $53.79 | Aug 4, 2016 | $13.19 |
Aug 14, 2016 | $40.59 | ||
Aug 21, 2016 | $53.79 | Aug 14, 2016 | $1.01 |
Aug 21, 2016 | $52.77 | ||
Aug 28, 2016 | $53.79 | Aug 21, 2016 | $1.01 |
Sep 17, 2016 | $52.77 | ||
Sep 4, 2016 | $53.79 | Sep 17, 2016 | $3.04 |
Sep 21, 2016 | $50.74 | ||
Sep 11, 2016 | $53.79 | Sep 21, 2016 | $10.15 |
Sep 24, 2016 | $43.64 | ||
Sep 18, 2016 | $53.79 | Sep 24, 2016 | $53.79 |
Sep 25, 2016 | $53.79 | Sep 24, 2016 | $4.06 |
Oct 1, 2016 | $49.73 | ||
Oct 2, 2016 | $53.79 | Oct 1, 2016 | $53.79 |
Oct 9, 2016 | $53.79 | Oct 1, 2016 | $8.12 |
Oct 13, 2016 | $45.67 | ||
Oct 16, 2016 | $53.79 | Oct 13, 2016 | $5.07 |
Oct 22, 2016 | $45.67 | ||
Oct 25, 2016 | $3.04 | ||
Oct 23, 2016 | $53.79 | Oct 25, 2016 | $27.40 |
Oct 28, 2016 | $26.39 | ||
Oct 30, 2016 | $53.79 | Oct 28, 2016 | $9.13 |
Nov 2, 2016 | $44.65 | ||
Nov 6, 2016 | $53.79 | Nov 2, 2016 | $6.09 |
Nov 5, 2016 | $47.70 | ||
Nov 13, 2016 | $53.79 | Nov 5, 2016 | $13.19 |
Nov 12, 2016 | $40.59 | ||
Nov 20, 2016 | $53.79 | Nov 12, 2016 | $53.79 |
Nov 27, 2016 | $53.79 | Nov 12, 2016 | $53.79 |
Dec 4, 2016 | $9.39 | Nov 12, 2016 | $9.39 |
Will Nov 12, 2017
Mary Nov 4, 2017
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