Inventory financing for mini mart

Edwin Chui

Ruaka, Kenya

100% repaid

Entrepreneur

Name

Edwin Chui

Member since

September 2018

On-time repayments

73 installments  •  81%

About Me

I am Edwin Chui. I was born and raised in Central Kenya, schooled in Nairobi and USA.

I believe that the quickest way to develop Africa is to support the scaling of small businesses in Africa.

My Business

LeoMart is a retail business that is working to grow from the ground up. I envision that it will be a fully fledged supermarket outlet in 2.5 years.

Loan Proposal

I will use the loan to augment daily working capital needs for a mini mart business. Specifically, the funds will be used to prepay for inventory items on order.

Income Source

Small business in the mold of mini-marts are actually seeing higher turnover and a faster cash conversion as people shun the bigger supermarkets that are likely to see overcrowding and as more people remain at home due to various control measures imposed by the government.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$83.48

Date disbursed

Jul 4, 2020

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Service fee: $7.03

Credit risk payment: $6.33

Optional expediting fee: $7.03

Lenders

MarktheMormon

Sandy, Utah, United States

Vratik Krocik

Prague, Czech Republic

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