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 want to introduce the selling of fresh, fish float bladder/fish maws in my business. There is a great demand for fresh fish maws I would like to tap into this opportunity, which is quite promising in returns.
I plan to use the money received as following:-
Get a license from the ministry of fisheries, which cost $20,
In a week, I'll buy around 30kg of fresh fish maws worth around $551
Cleaning, sorting, transport and packaging will cost me US $ 10.
The remaining $83 will cover any unforeseen expenses that may arise
After sorting and cleaning, I will be left with between 27-28Kg of fish maws.
Sell the 27-28kg fish maws for around $ 750
I have done my research, and interacting with other dealers and noted that this is a viable venture. This new product in my business will give me a very good boost where I will be able to service the loan promptly, expand my business further.
Positive
8
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$640.00
Date disbursed
Feb 16, 2015
Repayment status
On Time
Projected term
6 months
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Amount repaid
$687.06
Amount remaining
$0.00
Date repaid
Aug 9, 2015
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Mar 1, 2015 | $26.42 | Mar 2, 2015 | $26.42 |
Mar 8, 2015 | $26.42 | Mar 2, 2015 | $1.91 |
Mar 9, 2015 | $24.51 | ||
Mar 15, 2015 | $26.42 | Mar 9, 2015 | $3.27 |
Mar 14, 2015 | $23.16 | ||
Mar 22, 2015 | $26.42 | Mar 14, 2015 | $4.62 |
Mar 20, 2015 | $21.80 | ||
Mar 29, 2015 | $26.42 | Mar 20, 2015 | $5.98 |
Mar 28, 2015 | $20.44 | ||
Apr 5, 2015 | $26.42 | Mar 28, 2015 | $7.33 |
Apr 5, 2015 | $19.09 | ||
Apr 12, 2015 | $26.42 | Apr 5, 2015 | $6.47 |
Apr 13, 2015 | $19.96 | ||
Apr 19, 2015 | $26.42 | Apr 13, 2015 | $0.04 |
Apr 22, 2015 | $26.38 | ||
Apr 26, 2015 | $26.42 | Apr 22, 2015 | $6.96 |
Apr 29, 2015 | $19.47 | ||
May 3, 2015 | $26.42 | Apr 29, 2015 | $13.87 |
May 5, 2015 | $12.56 | ||
May 10, 2015 | $26.42 | May 5, 2015 | $20.78 |
May 16, 2015 | $5.64 | ||
May 17, 2015 | $26.42 | May 16, 2015 | $26.42 |
May 24, 2015 | $26.42 | May 16, 2015 | $1.27 |
May 27, 2015 | $25.16 | ||
May 31, 2015 | $26.42 | May 27, 2015 | $10.40 |
Jun 1, 2015 | $16.02 | ||
Jun 7, 2015 | $26.42 | Jun 1, 2015 | $17.31 |
Jun 13, 2015 | $9.11 | ||
Jun 14, 2015 | $26.42 | Jun 13, 2015 | $26.42 |
Jun 21, 2015 | $26.42 | Jun 13, 2015 | $8.91 |
Jun 23, 2015 | $17.51 | ||
Jun 28, 2015 | $26.42 | Jun 23, 2015 | $10.27 |
Jul 2, 2015 | $16.16 | ||
Jul 5, 2015 | $26.42 | Jul 2, 2015 | $6.07 |
Jul 5, 2015 | $20.36 | ||
Jul 12, 2015 | $26.42 | Jul 5, 2015 | $4.09 |
Jul 21, 2015 | $22.33 | ||
Jul 19, 2015 | $26.42 | Jul 21, 2015 | $26.42 |
Jul 26, 2015 | $26.42 | Jul 21, 2015 | $9.58 |
Jul 29, 2015 | $16.84 | ||
Aug 2, 2015 | $26.42 | Jul 29, 2015 | $10.93 |
Aug 6, 2015 | $15.49 | ||
Aug 9, 2015 | $26.42 | Aug 6, 2015 | $0.07 |
Aug 7, 2015 | $26.36 | ||
Aug 16, 2015 | $26.42 | Aug 7, 2015 | $26.42 |
Aug 23, 2015 | $26.50 | Aug 7, 2015 | $8.33 |
Aug 9, 2015 | $18.17 |
Will Nov 12, 2017
Mary Nov 4, 2017
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