Business loan

Victor Wangome

Gilgil, Kenya

100% repaid

Entrepreneur

Name

Victor Wangome

Member since

July 2015

On-time repayments

199 installments  •  63%

About Me

I was born in kiserian in 1985,schooled there in my primary classes to class two,we moved to kamae where i continued with my education to class four.I attended good shepherd academy in Njabini to class 8.i attended Nairobi school for my high school and Kenyatta university there after where I graduated with a bachelor in science lower class.I since was doing casual jobs after i worked in Vision Afrika Sacco gilgil in various capacities but was not satisfied with employment since I had always preferred self employment and also wanted to settle in one town since through out my childhood and youth we had been shifting from one place to another(i have lived in 7 different towns) and that made it hard to have friends and grow my self hence the idea to open up a business where I would settle and improve the town by the quality and the services i would offer .I started my business when still employed in 2012 since i liked technology and knew there was great opportunity in pursuing that.i live in Kenya and our people like communities and that's what I have leveraged in my business since it's a place where the youth can experience different technologies and mingle.am currently single not yet married I think my customers are my kids and they would appreciate if they had all modern technological equipments in there disposal and that's what i aim to accomplish.i like exploring technology in my past time and reading about it.

My Business

my business is called red spot entertainment.currently we just offer gaming services (ps2),photocopying,computer services and sell movies but hope to expand and increase the number of consoles, open up a cyber and a sports viewing center in the near future and later register as a company and venture in more entertainments related businesses. As of now am only operating with three(+ 1thanks to zidisha) consoles but my hall can handle six.am the only one offering such services in my neighbour hood so the demand has been high as shown by my income.in a day i make around Ksh 800($8)minus all the daily expenses,in a month that's around ksh 24,000($240) minus Ksh 3000($30) rent and 2500($25) electricity.I reinvest ksh 5000($50) back to business and am left with ksh 13,500($135).most of this is spend repaying my loans that am almost done with.I am single so I don't use much on myself

Loan Proposal

While I was still working, I lend from my place of work(a local sacco) around ksh 240000($2400) to start another business wines and spirits but unfortunately the licensing process here in Kenya is a bit dubious for business regarding liquor and I lost alot of money in that process and run ins with the police as they would be noticed by corrupt licensee.around ksh 50000($500) on this process I closed the business later.I shifted for where I was living close to my current business and unknowingly this gave thieves an opportunity to raid it and I lost almost ksh 100000($100) in total and later I lost my job.All those challenges have caused my to be unable to repay the loan efficiently though I have but I have not been able to pay the installments in full and thus I have been in arrears right now I have a balance of ksh 110000($1100) but a had savings of ksh 86000($860) and I wish to repay the balance of ksh 30000($300) and be done as the interest is quite high at 1 % per month ksh 1600($16) and penalties on the arrears.from the loans I have acquired from you I have been able to improve my business to an earning of ksh 20000($200) per month and hope that once am only repaying your loan that I will handle better than when I was repaying for the two loans.the balance will be used to acquire a license for this year for ksh 9000($90) and the rest I will plough back to the business.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$482.01

Date disbursed

Jan 11, 2017

Repayment status

On Time

Projected term

22 months

Cost to entrepreneur

Service fee: $20.89

Lenders

T

Tmann

Los Angeles, United States

HI

Highly Improbable

Saskatoon, Canada

investor

Candiac, Canada

torelizer

Reggio Emilia, Italy

BelleStarr

Albuquerque, United States

S

SueB1

Los Alamos, United States

AltruisticSelfishnes

Chicago, United States

ErikN

Stockholm, Sweden

Ambrose

Calgary, Canada

H

Hynek

Brussels, Belgium

R

rmacaw

Australia

Sister

Kongsberg, Norway

H

hilde

seattle, United States

Tavin

Ottawa, Canada

J

jimmydjjr

Gautier, United States

C

cczapp

Hilliard, United States

Namaste250

Pittsford, United States

mtnsailor

Harrisonburg, United States

H

hteba

Northwich, United Kingdom

L

leniwiec

Poznan, Poland

skullyjo

Winnipeg, Canada

Tania

Antwerpen, Belgium

fairspirit

Utrecht, Netherlands

camilberlin

Berlin, Germany

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

K

kingcamo1095

Mountain Home, United States

H

HobbyCollector

Beach City, United States

gseletko

South Perth, Australia

GuillaumeTeissier

Montréal, Canada

xtrahardware

Cazenovia, United States

D

DogFort1

Sydney, Australia

Evan Lamos

Brussels, Belgium

D

dbuksh

United States

Paul Buchheit

Mountain View, United States

D

DandS

United States

M

Michi

Switzerland

B

bugdaniel

Switzerland

S

sarah4d2

Saint Louis, United States

larry

Sweden

TyWee

Manila, Philippines

Vesa

Helsinki, Finland

K

Keith

Luxembourg

S

satheajay

United States

M

MarkA

United Kingdom

M

me.iulian

Iasi, Romania

C

Crainster

Chapel Hill, United States

SuperMario28

Cudahy, United States

Jessosix

Perth, Australia

S

Stephan

Netherlands

AP

Andrew Page

United Kingdom

Haim Si

Mexico, Mexico

Helmut Bachmayr

Munich, Germany

Gab

Singapore

P

PC

United States

Dave Bogard

New York, United States

Villa Maria Outliers

Montreal, Canada

A

AmyLuYenYin

Brisbane, Australia

MW

Matt Willis

United States

V

Vanessa

Gold Coast, Australia

W

Wade

United States

Elly

Woudrichem, United Kingdom

PC

Patrick Clavette

Hartford, Wisconsin, United States

Dean Cress

United States

C

Chitti421

United States

Lou Kaucic

Sanbornton, NH, United States

JT

John Tabacchi

United States

E

erica

antwerpen, Belgium

JK

Hamburg, Germany

Julia

United States

JD

Jeff DePree

United States

Urszula

United Kingdom

CNV

United States

TH

tom hd

United Kingdom

Framework Eyewear

Utrecht, Netherlands

Pedro R-C

Cambridge, United States

Brad Schilling

Bunbury, Australia

MS

Mark S Yourek

United States

EF

Eddie Flores

NYC, United States

jo

Los Angeles, United States

DL

Dan Lawrence

United States

TF

Tom Fawcett

United States

terveer

Netherlands

Taylor

Memphis, United States

Heidy

N J, United States

AG

abel ghita

Bucharest, Romania, Italy

SH

Steven Huntington

London, United Kingdom

Rory McLaughlin

Dallas, United States

Thomas

Sweden, Sweden

K

Katka

St Albans, United Kingdom

V

Vidar

Oslo, Norway

S

Stephanie

Zurich, Switzerland

Tony Liao

Montreal, Canada

DK

Danny Kelly

United States

RC

Rudi Chen

United States

Stephan W

Witten, Germany

J

Julie

Los Angeles, United States

J

Jo

United States

David

Mantua, Ohio Usa, United States

Kevin

United States

B

Brett

Australia

Sinan Taifour

Munich, Germany, Germany

J

Jon

United States

L

Lucy

Australia

K

Katharina

Germany, Germany

A

Annekatrin

Switzerland

Craig Newmark

United States

The Zinc Team

San Francisco, United States

SH

Stephanie He

United States

Humble Bundle Community

San Francisco, United States

Curious Customs

Austin, Texas, United States

JA

Joshua Axtell

United States

Thomas Naimoli

United States

E

Ejvin

United States

D

Dalton

San Francisco, United States

Haroon S

United States

Dean Suminski

Portland, Oregon, United States

A

Anonymous

United States

GS

Gary Sinard

Franklin, TN, United States

Bo Rosén

Eslöv, Sweden

Kenny

San Diego, United States

EC

Edward Conrads

San Francisco, United States

MH

Meika Harris

United States

JU

jeremy upsal

United States

R

RMIM

United States

Mike

Indianapolis, United States

W

Wicki

Germany

Paul Buchheit

Mountain View, United States

Bryce Bow

Bloomington, In, United States

CN

Craig Newmark

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

HB

Hugo Boss

United Kingdom

MR

Mary Reardon

United States

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