Loan to start M-Pesa mobile-money transfer-agent services

Lidya

Nairobi, Kenya

17% repaid

Entrepreneur

Name

Lidya

Member since

April 2015

On-time repayments

143 installments  •  56%

About Me

I am a 47 Year old Kenyan Lady. I am originally from Western Province but I live and Work in Nairobi. I studied at Tigoi Girls high School and Later went to Kisii Secretarial College. I am also a trained cook. After training, I worked at Shell petrol Station, Kisumu as a pump attendant. I later joined Total Petrol, Kapsabet in the Same Capacity. I then transferred to Total Kenya, Uganda road Eldoret as an Accounts clerk. After Leaving Total, i started a personal Business in which I deal in African Print garments called Kangas (A Famous form of dress in East Africa) and Women's wear. I love my business. I always look for means and ways to make it better. I am a hard-working and focused individual, with personal ambitions and goals to develop myself and at the same help the society that supports me.

My Business

The main focus of my business is dealing in Kangas. These are a form of dressing garb famous in Kenya, Tanzania, Uganda and Somalia. It's an African Imprinted garment that is used to sew dresses, headscarves, skirts and other female clothing used by women allover East Africa. It is also famous in public functions for the messages that are commonly imprinted on them. I source my Kangas from Mombasa Kenya. Most of these Kangas are Manufactured in Tanzanian Textile factories and some Kenyan EPZ (Export Processing Zones) at the coast. I buy a bundle that constitutes 12 Kangas at Ksh. 5000. I then carry and sell each Kanga in Nairobi at between Ksh.500 and Ksh. 600 depending on the bargaining power of the client. Each bundle fetches up to Ksh.2000 profit (approximately 22 USD). To be able to comfortably clear the transport and utility bills that I incur on the journey of bringing the Kanga from Mombasa, i buy at least five bundles, which I clear in not more than six weeks. My intention for the future is to start sourcing the material directly from Tanzania and start selling to other places in Kenya like the Rift Valley, Nyanza , Western Provinces and Kampala Uganda. This is because Lesos promote an East African tradition that is appreciated across communities and religions in the region. The Kanga is intertwined with the History of the Swahili Speaking Region of East Africa and Eastern Congo. The appreciation of the Kanga in this region is high due to this factor. This creates the potential wide market for the business.

Loan Proposal

My Current Cloths sales business is doing good. The Lesos and Kangas are particularly doing great. I have identified them as the strength of the business. I have identified an MPesa (Mobile Transfer Money Services) dealer and would like to make a deposit for Ksh.30,000 (300 USD) Float and keep Ksh. 20,000 (200 USD)for cash transactions.I intend to use 8000 on Branding and Stationery. Many of my customers go to withdraw money from the MPesa Shop down the road before coming to pay for purchases. MPesa is preffered as a way to keep money because of security. I know that offering these services will help me get more income in the form of commisions and I will also be able to cut in on the MPesa customers who pass by my Duka to the Agent down the road. Having worked as an MPesa services issuer at an agency briefly, I project my commisions to get to not less than Ksh.15,000 (150 USD) and upto Ksh.25,000 (250 USD) per month which is a significant increase in revenue and I may need the services of my niece who just completed college. She can make some pocket money for the meanwhile as the service rolls out.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$584.00

Date disbursed

Jan 2, 2017

Repayment status

Late

Projected term

17 months

Lenders

JimVandegriff

Trinidad, California, United States

P

PhilACK

Brampton, Canada

S

SvenWaage

Stavanger, Norway

ads68

Melbourne, Australia

P

Peksa

Espoo, Finland

Stefano Bertolo

Luxembourg, Luxembourg

Richard Griebe

La Jolla, United States

MH

Michael Hall

United States

V

Vivek

Arlington, VA, United States

N

Nick

United States

KG

Kate Goodwin

United States

The Zinc Team

San Francisco, United States

Emily

San Francisco, United States

Paul Buchheit

Mountain View, United States

KN

Kevin N

Cleveland, Ohio, United States

A

Anonymous

United States

CN

Craig Newmark

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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Summary

Amount repaid

$98.72

Amount remaining

$484.79

Expected completion

Jun 17, 2018

Status

Repaying late

Installment amount

$8.06

Repayment History

Expected Payments Actual Payments
Jan 15, 2017 $10.07 Jan 22, 2017 $10.07
Jan 22, 2017 $0.00
Jan 29, 2017 $0.00
Feb 5, 2017 $8.06 Feb 5, 2017 $8.06
Feb 12, 2017 $8.06 Feb 13, 2017 $8.06
Feb 19, 2017 $8.06 Feb 28, 2017 $8.06
Feb 26, 2017 $8.06 Feb 28, 2017 $8.06
Mar 5, 2017 $8.06 Mar 6, 2017 $8.06
Mar 12, 2017 $8.06 Mar 19, 2017 $8.06
Mar 19, 2017 $8.06 Mar 19, 2017 $8.06
Mar 26, 2017 $8.06 Mar 29, 2017 $8.06
Apr 2, 2017 $8.06 Apr 17, 2017 $8.06
Apr 9, 2017 $8.06 Apr 17, 2017 $8.06
Apr 16, 2017 $8.06 Apr 17, 2017 $8.06
Apr 23, 2017 $8.06
Apr 30, 2017 $8.06
May 7, 2017 $8.06
May 14, 2017 $8.06
May 21, 2017 $8.06
May 28, 2017 $8.06
Jun 4, 2017 $8.06
Jun 11, 2017 $8.06
Jun 18, 2017 $8.06
Jun 25, 2017 $8.06
Jul 2, 2017 $8.06
Jul 9, 2017 $8.06
Jul 16, 2017 $8.06
Jul 23, 2017 $8.06
Jul 30, 2017 $8.06
Aug 6, 2017 $8.06
Aug 13, 2017 $8.06
Aug 20, 2017 $8.06
Aug 27, 2017 $8.06
Sep 3, 2017 $8.06
Sep 10, 2017 $8.06
Sep 17, 2017 $8.06
Sep 24, 2017 $8.06
Oct 1, 2017 $8.06
Oct 8, 2017 $8.06
Oct 15, 2017 $8.06
Oct 22, 2017 $8.06
Oct 29, 2017 $8.06
Nov 5, 2017 $8.06
Nov 12, 2017 $8.06
Nov 19, 2017 $8.06
Nov 26, 2017 $8.06
Dec 3, 2017 $8.06
Dec 10, 2017 $8.06
Dec 17, 2017 $8.06
Dec 24, 2017 $8.06
Dec 31, 2017 $8.06
Jan 7, 2018 $8.06
Jan 14, 2018 $8.06
Jan 21, 2018 $8.06
Jan 28, 2018 $8.06
Feb 4, 2018 $8.06
Feb 11, 2018 $8.06
Feb 18, 2018 $8.06
Feb 25, 2018 $8.06
Mar 4, 2018 $8.06
Mar 11, 2018 $8.06
Mar 18, 2018 $8.06
Mar 25, 2018 $8.06
Apr 1, 2018 $8.06
Apr 8, 2018 $8.06
Apr 15, 2018 $8.06
Apr 22, 2018 $8.06
Apr 29, 2018 $8.06
May 6, 2018 $8.06
May 13, 2018 $8.06
May 20, 2018 $8.06
May 27, 2018 $8.06
Jun 3, 2018 $8.06
Jun 10, 2018 $8.06
Jun 17, 2018 $1.28

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