Float/cash for mobile banking business (mpesa)
Duncan
Solai- Nakuru, Kenya
10% repaid
Entrepreneur
Name
Duncan
Member since
December 2014
On-time repayments
116 installments • 7%
About Me
My name is Duncan Kibet, 31 years old and married. I am a first born in a family of seven and I reside in Upper Solai near Lake Solai in Nakuru county. I studied a diploma course in in general agriculture from Rift Valley Institute of Science and Technology.
Since then, I have had a few temporary contracts paying poorly and the I could not plan on. About one year ago, I established an MPESA outlet for mobile banking transactions at Kamukunji shopping centre. So far it has been a success and only want to improve.
I spend most of my free time watching TV especially in the shop where I sell mobile accessories.
My Business
I have established an MPESA (mobile banking) outlet at Kamukunji shopping centre- few kilometers from Lake Solai.
I basically perform mobile transactions for instance, cash deposits and withdrawals while earning commission from them.
The location is strategic and has a good population with minimal competition. The business is my only source of income and most of the proceeds often go to upkeep with little savings. The business demands a lot of cash liquidity which is often a limiting factor for my business.
Loan Proposal
With mobile banking, the demand for high liquidity is high and being able to maintain this cycle is key to the success of this business as it pays on commission.
The potential to exploit is increasing the number of transactions which translate to better commission I will therefore use all the $100 in improving cash/float levels.
The increased profits will help me expand my business- by introducing other businesses that can easily match for instance, sale of mobile phone accessories within the same outlet as well as pay back the loan with ease.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jan 1, 2015
Repayment status
Late
Projected term
27 months
Lenders
Fletcher, NC, United States
Summary
Amount repaid
$13.48
Amount remaining
$115.06
Expected completion
Apr 2, 2017
Status
Repaying late
Installment amount
$1.12
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jan 11, 2015 | $2.25 | Jan 11, 2015 | $1.12 |
| Jan 18, 2015 | $1.12 | ||
| Jan 18, 2015 | $0.00 | ||
| Jan 25, 2015 | $1.12 | Jan 26, 2015 | $1.12 |
| Feb 1, 2015 | $1.12 | Feb 1, 2015 | $1.12 |
| Feb 8, 2015 | $1.12 | Feb 15, 2015 | $1.12 |
| Feb 15, 2015 | $1.12 | Feb 15, 2015 | $1.12 |
| Feb 22, 2015 | $1.12 | Feb 22, 2015 | $1.12 |
| Mar 1, 2015 | $1.12 | Mar 1, 2015 | $1.12 |
| Mar 8, 2015 | $1.12 | Mar 8, 2015 | $1.12 |
| Mar 15, 2015 | $1.12 | Mar 27, 2015 | $1.12 |
| Mar 22, 2015 | $1.12 | Apr 11, 2015 | $1.12 |
| Mar 29, 2015 | $1.12 | Apr 19, 2015 | $1.12 |
| Apr 5, 2015 | $0.00 | ||
| Apr 12, 2015 | $0.00 | ||
| Apr 19, 2015 | $0.00 | ||
| Apr 26, 2015 | $1.12 | ||
| May 3, 2015 | $1.12 | ||
| May 10, 2015 | $1.12 | ||
| May 17, 2015 | $1.12 | ||
| May 24, 2015 | $1.12 | ||
| May 31, 2015 | $1.12 | ||
| Jun 7, 2015 | $1.12 | ||
| Jun 14, 2015 | $1.12 | ||
| Jun 21, 2015 | $1.12 | ||
| Jun 28, 2015 | $1.12 | ||
| Jul 5, 2015 | $1.12 | ||
| Jul 12, 2015 | $1.12 | ||
| Jul 19, 2015 | $1.12 | ||
| Jul 26, 2015 | $1.12 | ||
| Aug 2, 2015 | $1.12 | ||
| Aug 9, 2015 | $1.12 | ||
| Aug 16, 2015 | $1.12 | ||
| Aug 23, 2015 | $1.12 | ||
| Aug 30, 2015 | $1.12 | ||
| Sep 6, 2015 | $1.12 | ||
| Sep 13, 2015 | $1.12 | ||
| Sep 20, 2015 | $1.12 | ||
| Sep 27, 2015 | $1.12 | ||
| Oct 4, 2015 | $1.12 | ||
| Oct 11, 2015 | $1.12 | ||
| Oct 18, 2015 | $1.12 | ||
| Oct 25, 2015 | $1.12 | ||
| Nov 1, 2015 | $1.12 | ||
| Nov 8, 2015 | $1.12 | ||
| Nov 15, 2015 | $1.12 | ||
| Nov 22, 2015 | $1.12 | ||
| Nov 29, 2015 | $1.12 | ||
| Dec 6, 2015 | $1.12 | ||
| Dec 13, 2015 | $1.12 | ||
| Dec 20, 2015 | $1.12 | ||
| Dec 27, 2015 | $1.12 | ||
| Jan 3, 2016 | $1.12 | ||
| Jan 10, 2016 | $1.12 | ||
| Jan 17, 2016 | $1.12 | ||
| Jan 24, 2016 | $1.12 | ||
| Jan 31, 2016 | $1.12 | ||
| Feb 7, 2016 | $1.12 | ||
| Feb 14, 2016 | $1.12 | ||
| Feb 21, 2016 | $1.12 | ||
| Feb 28, 2016 | $1.12 | ||
| Mar 6, 2016 | $1.12 | ||
| Mar 13, 2016 | $1.12 | ||
| Mar 20, 2016 | $1.12 | ||
| Mar 27, 2016 | $1.12 | ||
| Apr 3, 2016 | $1.12 | ||
| Apr 10, 2016 | $1.12 | ||
| Apr 17, 2016 | $1.12 | ||
| Apr 24, 2016 | $1.12 | ||
| May 1, 2016 | $1.12 | ||
| May 8, 2016 | $1.12 | ||
| May 15, 2016 | $1.12 | ||
| May 22, 2016 | $1.12 | ||
| May 29, 2016 | $1.12 | ||
| Jun 5, 2016 | $1.12 | ||
| Jun 12, 2016 | $1.12 | ||
| Jun 19, 2016 | $1.12 | ||
| Jun 26, 2016 | $1.12 | ||
| Jul 3, 2016 | $1.12 | ||
| Jul 10, 2016 | $1.12 | ||
| Jul 17, 2016 | $1.12 | ||
| Jul 24, 2016 | $1.12 | ||
| Jul 31, 2016 | $1.12 | ||
| Aug 7, 2016 | $1.12 | ||
| Aug 14, 2016 | $1.12 | ||
| Aug 21, 2016 | $1.12 | ||
| Aug 28, 2016 | $1.12 | ||
| Sep 4, 2016 | $1.12 | ||
| Sep 11, 2016 | $1.12 | ||
| Sep 18, 2016 | $1.12 | ||
| Sep 25, 2016 | $1.12 | ||
| Oct 2, 2016 | $1.12 | ||
| Oct 9, 2016 | $1.12 | ||
| Oct 16, 2016 | $1.12 | ||
| Oct 23, 2016 | $1.12 | ||
| Oct 30, 2016 | $1.12 | ||
| Nov 6, 2016 | $1.12 | ||
| Nov 13, 2016 | $1.12 | ||
| Nov 20, 2016 | $1.12 | ||
| Nov 27, 2016 | $1.12 | ||
| Dec 4, 2016 | $1.12 | ||
| Dec 11, 2016 | $1.12 | ||
| Dec 18, 2016 | $1.12 | ||
| Dec 25, 2016 | $1.12 | ||
| Jan 1, 2017 | $1.12 | ||
| Jan 8, 2017 | $1.12 | ||
| Jan 15, 2017 | $1.12 | ||
| Jan 22, 2017 | $1.12 | ||
| Jan 29, 2017 | $1.12 | ||
| Feb 5, 2017 | $1.12 | ||
| Feb 12, 2017 | $1.12 | ||
| Feb 19, 2017 | $1.12 | ||
| Feb 26, 2017 | $1.12 | ||
| Mar 5, 2017 | $1.12 | ||
| Mar 12, 2017 | $1.12 | ||
| Mar 19, 2017 | $1.12 | ||
| Mar 26, 2017 | $1.12 | ||
| Apr 2, 2017 | $1.57 | ||
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