George Follonzi

Chumani Village, Kenya

100% repaid



George Follonzi

Member since

May 2013

On-time repayments

158 installments  •  20%

About Me

i was born in afamily of six being the second born.i completed my primary school in 2004 and joined chumani secondary in 2005 and completed the secondary level in 2008. i then joined pwani university the year 2010 where i take diploma in primary education. currently am a teacher at kilifi primary where i serve as a part time teacher. i started my business in 2011 so as to facilitate my basic needs at campus level. the eanings of the bussines are used to improve the business and also in sustaining my basic needs at campus

My Business

MY business is located at chumani stage which is a small tow in between kilifi and malin towns in the kilifi county of kenya. ther goods that ib deal with are maily the food products and litle of medicinal products usually for first aid purposes.the goods are at high demand due to the large population of the town.the boy i employed at the shop is popular in the village and he serve the customers in a polite way thus most people prefer my shop as opposed to the others.the profitability of the business is due to the high sales level while the major risk is expirery of the products.the monthly income is kes 30000 while the expenses accrue to kes10000 hence the profit is about kes 20000

Loan Proposal

i will use to 60% of the loan to buy 4 bundles of maize flour as the demand is high due to food shortage experienced in the region. 20% in buying 50kgs of rice, 10% in buying of dry fish which is the cheapest and most preferred relish. 10% in extending the structure for accommodation of the added goods. i promise to use the given amount wisely as stated above to ensure smooth repayment of the same.





Loan Info

Project Type

Classic Loan

Disbursed amount


Date disbursed

Jun 8, 2013

Repayment status

On Time

Projected term

14 months

Cost to entrepreneur

Lender interest: $100.08 at 4.63% annual rate over 14 months = $5.41

Service fee: $3.84



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