I will use the loan to increase my float of buying and selling paypal dollars locally
Charles
Kiambu, Kenya
4% repaid
Entrepreneur
Name
Charles
Member since
January 2014
On-time repayments
61 installments • 0%
About Me
Hi, I am a 25yr old Computer Science graduate from the University of Nairobi. I live along Kiambu Rd in Nairobi, Kenya. I buy and sell online currencies within the country. Kenya is a thriving hub of growing and emerging technologies. More Kenyans continue to access the Internet and as a result more people are now freelancing online and there is a continuos need for e-currencies within the economy. I basically buy and sell PayPal since none of the Kenyan banks are able to do so. I will use the earnings to increase my float hence be able to repay the loan ASAP.
My Business
I buy Paypal dollars at ksh.80 and sell them at ksh 90. hence making ksh10 on every dollar bought or sold. My customers prefer me since I allow mobile money payments and with no delays. The business is profitable since there is no verified PayPal exchanger within the country and I move more than $600 a day, hence I am guaranteed a profit of ksh6000 ($70) daily. The only risk in the business is a customer claiming a refund from PayPal and my only costs incurred are electricity and internet bills. The business should be able to repay the loan in 1month
Loan Proposal
I will use the money to purchase Paypal dollars locally at a lower price. It will benefit me (of course because of the commissions I will be making) and the local communities within Nairobi which is largely composed of freelancers who want a quicker and instant means of converting Paypal dollars into tangible cash. Lenders should not worry for even a minute, as my payments will be on time and they will get their money back asap.
Thank you all in advance.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Feb 5, 2014
Repayment status
Late
Projected term
14 months
Lenders
Lahr, Germany
Summary
Amount repaid
$7.06
Amount remaining
$194.16
Expected completion
Apr 11, 2015
Status
Repaying late
Installment amount
$3.53
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Feb 14, 2014 | $0.00 | ||
| Feb 21, 2014 | $0.00 | ||
| Feb 28, 2014 | $0.00 | ||
| Mar 7, 2014 | $3.53 | Mar 24, 2014 | $3.53 |
| Mar 15, 2014 | $3.53 | Apr 21, 2014 | $3.53 |
| Mar 22, 2014 | $3.53 | ||
| Mar 29, 2014 | $3.53 | ||
| Apr 5, 2014 | $3.53 | ||
| Apr 12, 2014 | $3.53 | ||
| Apr 19, 2014 | $3.53 | ||
| Apr 26, 2014 | $3.53 | ||
| May 3, 2014 | $3.53 | ||
| May 10, 2014 | $3.53 | ||
| May 17, 2014 | $3.53 | ||
| May 24, 2014 | $3.53 | ||
| May 31, 2014 | $3.53 | ||
| Jun 7, 2014 | $3.53 | ||
| Jun 14, 2014 | $3.53 | ||
| Jun 21, 2014 | $3.53 | ||
| Jun 28, 2014 | $3.53 | ||
| Jul 5, 2014 | $3.53 | ||
| Jul 12, 2014 | $3.53 | ||
| Jul 19, 2014 | $3.53 | ||
| Jul 26, 2014 | $3.53 | ||
| Aug 2, 2014 | $3.53 | ||
| Aug 9, 2014 | $3.53 | ||
| Aug 16, 2014 | $3.53 | ||
| Aug 23, 2014 | $3.53 | ||
| Aug 30, 2014 | $3.53 | ||
| Sep 6, 2014 | $3.53 | ||
| Sep 13, 2014 | $3.53 | ||
| Sep 20, 2014 | $3.53 | ||
| Sep 27, 2014 | $3.53 | ||
| Oct 4, 2014 | $3.53 | ||
| Oct 11, 2014 | $3.53 | ||
| Oct 18, 2014 | $3.53 | ||
| Oct 25, 2014 | $3.53 | ||
| Nov 1, 2014 | $3.53 | ||
| Nov 7, 2014 | $3.53 | ||
| Nov 14, 2014 | $3.53 | ||
| Nov 21, 2014 | $3.53 | ||
| Nov 28, 2014 | $3.53 | ||
| Dec 5, 2014 | $3.53 | ||
| Dec 12, 2014 | $3.53 | ||
| Dec 19, 2014 | $3.53 | ||
| Dec 26, 2014 | $3.53 | ||
| Jan 2, 2015 | $3.53 | ||
| Jan 9, 2015 | $3.53 | ||
| Jan 16, 2015 | $3.53 | ||
| Jan 23, 2015 | $3.53 | ||
| Jan 30, 2015 | $3.53 | ||
| Feb 6, 2015 | $3.53 | ||
| Feb 13, 2015 | $3.53 | ||
| Feb 20, 2015 | $3.53 | ||
| Feb 27, 2015 | $3.53 | ||
| Mar 6, 2015 | $3.53 | ||
| Mar 14, 2015 | $3.53 | ||
| Mar 21, 2015 | $3.53 | ||
| Mar 28, 2015 | $3.53 | ||
| Apr 4, 2015 | $3.53 | ||
| Apr 11, 2015 | $0.05 | ||
Ask Charles a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.