Entrepreneur
Name
Alex
Member since
December 2014
On-time repayments
340 installments • 88%
About Me
My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.
I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.
I made savings which enabled me to open a small electrical shop which I am running to date.
I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.
My Business
My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.
I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This is the main reason why I started this business since I wanted to get a market share of the boom.
I make a profit of about $380 which I use to support my family and also for business expansion.
Loan Proposal
My business has grown over time and so have my clients. This has put demand for items that I sell very high. The item that moves very fast and always in demand is installation cables which is used to do wiring in homes and schools.
I will spend the entire amount to buy rolls of different cables and I hope to sell them within a short time. I will the profit so realized to buy more stock while repaying this loan. My family also depends on this business and good business will guarantee their secure future.
Thank you very much.
About Me
My name is Alex Masumbuko. I was born in Kitui County of Eastern region of Kenya. I was born in a family of farmers where my parents practised small scale farming. I spent my childhood years assisting my parents with their day to day chores.
I went to local schools where I studied up to secondary school but I could not proceed with my education since my parents were unable to afford college fees. I then decided to move to Mombasa in search of a job. I did not secure a job as expected and I started hawking small wares from door to door.
I made savings which enabled me to open a small electrical shop which I am running to date.
I am married with one child who is 2 years old. I am a committed member of my church where I am involved in many group activities.
My Business
My business deals with sale of electrical items such as wiring cables, wall sockets, bulbs etc. I am a retailer and I source my merchandise from wholesalers. I normally sell my items to contractors and technicians who do electrical work.
I decided to start this business due to the rapid expansion of Mombasa city where many new buildings are coming up and there is a big demand for electrical items. This it the main reason why I started this business since I wanted to get a market share of the boom.
I make a profit of about $480 which I use to support my family and also for business expansion.
Loan Proposal
My business has grown over time and so have my clients. This has put demand for items that I sell very high. The item that moves very fast and always in demand is installation cables which is used to do wiring in homes and schools.
I will spend the entire amount to buy rolls of different cables and I hope to sell them within a short time. I will the profit so realized to buy more stock while repaying this loan. My family also depends on this business and good business will guarantee their secure future.
Thank you very much.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$2,533.00
Date disbursed
May 4, 2018
Repayment status
On Time
Projected term
11 months
Other loans
Lenders
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Summary
Amount repaid
$2,533.70
Amount remaining
$0.00
Date repaid
Dec 19, 2018
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| May 11, 2018 | $72.43 | May 11, 2018 | $72.43 |
| May 18, 2018 | $72.43 | May 19, 2018 | $72.43 |
| May 25, 2018 | $72.43 | May 26, 2018 | $72.43 |
| Jun 1, 2018 | $72.43 | Jun 1, 2018 | $72.43 |
| Jun 8, 2018 | $72.43 | Jun 11, 2018 | $72.43 |
| Jun 15, 2018 | $72.43 | Jun 20, 2018 | $72.43 |
| Jun 22, 2018 | $72.43 | Jun 26, 2018 | $72.43 |
| Jun 29, 2018 | $72.43 | Jul 5, 2018 | $72.43 |
| Jul 6, 2018 | $72.43 | Jul 12, 2018 | $72.43 |
| Jul 13, 2018 | $72.43 | Jul 18, 2018 | $72.43 |
| Jul 20, 2018 | $72.43 | Jul 26, 2018 | $72.43 |
| Jul 27, 2018 | $19.72 | Aug 2, 2018 | $19.72 |
| Aug 3, 2018 | $19.72 | Aug 2, 2018 | $19.72 |
| Aug 10, 2018 | $19.72 | Aug 15, 2018 | $19.72 |
| Aug 17, 2018 | $19.72 | Aug 15, 2018 | $4.92 |
| Aug 23, 2018 | $14.80 | ||
| Aug 24, 2018 | $19.72 | Aug 23, 2018 | $19.72 |
| Aug 31, 2018 | $72.43 | Aug 23, 2018 | $4.90 |
| Sep 5, 2018 | $67.53 | ||
| Sep 7, 2018 | $29.56 | Sep 12, 2018 | $29.56 |
| Sep 14, 2018 | $29.56 | Sep 19, 2018 | $29.56 |
| Sep 21, 2018 | $29.56 | Sep 27, 2018 | $29.56 |
| Sep 28, 2018 | $29.56 | Oct 5, 2018 | $29.56 |
| Oct 5, 2018 | $29.56 | Oct 5, 2018 | $29.56 |
| Oct 12, 2018 | $72.43 | Oct 17, 2018 | $72.43 |
| Oct 19, 2018 | $29.56 | Oct 22, 2018 | $29.56 |
| Oct 26, 2018 | $29.56 | Oct 29, 2018 | $29.56 |
| Nov 2, 2018 | $29.56 | Nov 5, 2018 | $29.56 |
| Nov 9, 2018 | $29.56 | Nov 15, 2018 | $29.56 |
| Nov 16, 2018 | $29.56 | Nov 22, 2018 | $29.56 |
| Nov 23, 2018 | $72.43 | Nov 28, 2018 | $72.43 |
| Nov 30, 2018 | $29.56 | Dec 6, 2018 | $29.56 |
| Dec 7, 2018 | $29.56 | Dec 13, 2018 | $29.56 |
| Dec 14, 2018 | $29.56 | Dec 19, 2018 | $29.56 |
| Dec 21, 2018 | $29.56 | Dec 19, 2018 | $29.56 |
| Dec 28, 2018 | $29.56 | Dec 19, 2018 | $29.56 |
| Jan 4, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Jan 11, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Jan 18, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Jan 25, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Feb 1, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Feb 8, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Feb 15, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Feb 22, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Mar 1, 2019 | $72.43 | Dec 19, 2018 | $1.97 |
| Dec 19, 2018 | $70.46 | ||
| Mar 8, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Mar 15, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Mar 22, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Mar 29, 2019 | $72.43 | Dec 19, 2018 | $72.43 |
| Apr 5, 2019 | $36.09 | Dec 19, 2018 | $36.09 |
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