Entrepreneur
Name
Joseph
Member since
February 2015
On-time repayments
252 installments • 34%
About Me
MY STORY
I come from Western Kenya a place called Ugenya and but currently I live and work in Eldoret Town. I have been in these Town for the last ten (15) years. I am a marriage man to one woman aged 42 years with five children (four girls and one boy). I have O level Education background also possess a Bachelors degree in Biblical Studies. I have been a Pastor for 10 years. Due to financial challenges and family responsibilities forces me do part time business of selling clothes to minimize financial constraint
My Business
About My Business
Besides Pastoring, I have been selling clothes to offices, shops and estates. I chose this business due to high demand by the people who have no time going to the market because of their working condition and various engagements. I also have a shop where I display clothes for sales. My business is always active and promising as the two business support each other.
The business does not face any risk as I select the best clothes from main market and stock them in my shop and sell others at mobile shop. My monthly cost of running the business is $ 90 while average Gross profit before the expenses is how I normally use profit approximately $ 70
The following is how I use profits from the business:-
10% I give tithes to church
50% Upkeep i.e. food and clothing
5% Savings
20% Payments of school fees
15% bills, rent and emergencies
Loan Proposal
To improve my business by increasing the stock and planning to open new branches in different locations. When awarded this loan i will use it wisely and pay it promptly.
I will buying clothes worth 100$ ,salaries 60$ and 19$ rent and transport.
It will benefit myself by boosting my business and also renewing the stock. The new stock will attract new customers. Others will benefit by creating job opportunities by opening new branches.
Am expecting profit margin of 15$ weekly that will make me to be able to pay around 7$ and the rest can help in other needs. But i know it will increase with time as we approach yearly sales pick by September and October.
Thank you in advance.
Pastor Joseph Mwalo
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Loan Info
Project Type
Classic Loan
Disbursed amount
$189.00
Date disbursed
Aug 9, 2015
Repayment status
On Time
Projected term
5 months
Other loans
Lenders
United States
Summary
Amount repaid
$197.51
Amount remaining
$0.00
Date repaid
Jan 12, 2016
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Aug 16, 2015 | $7.00 | Aug 15, 2015 | $7.00 |
| Aug 23, 2015 | $7.00 | Aug 23, 2015 | $7.00 |
| Aug 30, 2015 | $7.00 | Aug 30, 2015 | $7.00 |
| Sep 6, 2015 | $7.00 | Sep 6, 2015 | $7.00 |
| Sep 13, 2015 | $7.00 | Sep 13, 2015 | $7.00 |
| Sep 20, 2015 | $7.00 | Sep 13, 2015 | $1.00 |
| Sep 20, 2015 | $6.00 | ||
| Sep 27, 2015 | $7.00 | Sep 20, 2015 | $1.00 |
| Oct 4, 2015 | $6.00 | ||
| Oct 4, 2015 | $7.00 | Oct 4, 2015 | $1.00 |
| Oct 10, 2015 | $6.00 | ||
| Oct 11, 2015 | $7.00 | Oct 10, 2015 | $1.00 |
| Oct 12, 2015 | $6.00 | ||
| Oct 18, 2015 | $7.00 | Oct 12, 2015 | $1.00 |
| Oct 21, 2015 | $6.00 | ||
| Oct 25, 2015 | $7.00 | Oct 21, 2015 | $7.00 |
| Nov 1, 2015 | $7.00 | Oct 21, 2015 | $1.00 |
| Nov 2, 2015 | $6.00 | ||
| Nov 8, 2015 | $7.00 | Nov 2, 2015 | $7.00 |
| Nov 15, 2015 | $7.00 | Nov 23, 2015 | $7.00 |
| Nov 22, 2015 | $7.00 | Nov 23, 2015 | $7.00 |
| Nov 29, 2015 | $7.00 | Nov 23, 2015 | $7.00 |
| Dec 6, 2015 | $10.00 | Dec 22, 2015 | $10.00 |
| Dec 13, 2015 | $10.00 | Dec 22, 2015 | $10.00 |
| Dec 20, 2015 | $10.00 | Dec 22, 2015 | $10.00 |
| Dec 27, 2015 | $10.00 | Dec 22, 2015 | $10.00 |
| Jan 3, 2016 | $10.00 | Jan 2, 2016 | $10.00 |
| Jan 10, 2016 | $10.00 | Jan 12, 2016 | $10.00 |
| Jan 17, 2016 | $10.00 | Jan 12, 2016 | $10.00 |
| Jan 24, 2016 | $15.51 | Jan 12, 2016 | $15.51 |
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