Entrepreneur
Name
Festus
Member since
February 2015
On-time repayments
72 installments • 67%
About Me
My name is Festus – born in Machakos town near the capital city of Kenya – Nairobi. Machakos is a small town where the people engage in crop farming as well as livestock keeping. I grew up in this society and learnt farming skills at an early age while still attending school.
I went to primary then secondary school in my home area and then went to Nairobi for my college education. I did a certificate in audio and video production where I graduated after two years. I got short contracts jobs with leading media houses where we would go for road shows across the country. I was working as sound technician during these tours.
I later quit and joined a friend in Mombasa because I wanted to start a new career. While in Mombasa I reignited my love for music and through help of friends I produced my first audio album in 2007. I managed to market and make quick sale of my music and this enabled me to open a small music store in town which serve as an outlet for my music as well as for other artists. I am still doing this to date and it has been a success.
My Business
My business entails stocking music in form of CDs and Dvds for reselling. I sell my own music as well as for other artist. I do gospel music because I am a staunch Christian who is very committed to his beliefs. My dream is to open other branches in and outside Mombasa town so as to serve more people while spreading the word of God through music.
I have employed one assistant who helps in the day to day running of the music shop. I make about $220 per month after all expenses are paid. I use this money to pay my bills and also to support my parents back at home.
Loan Proposal
I deal with selling of gospel music. I do this from my store in town but I occasionally reach out to people in churches and other gatherings like crusades. With this money, I intend to cover a larger area by making longer trips.
I will be using a friends vehicle to transport the music cds, music system and a public address. A trip of about 30 kilometers will cost me about USD 50 and therefore, with this money, I will be able to make several trips.
The returns will definitely be handsome since I will be able to cover areas where there is no competition.
I expect my business sales to grow by not less than 30% when I implement this plan.
Feedback
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Neutral
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Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$201.00
Date disbursed
May 12, 2015
Repayment status
On Time
Projected term
3 months
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Summary
Amount repaid
$211.32
Amount remaining
$0.00
Date repaid
Aug 26, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| May 24, 2015 | $14.08 | May 25, 2015 | $14.08 |
| May 31, 2015 | $14.08 | May 25, 2015 | $5.92 |
| May 31, 2015 | $8.16 | ||
| Jun 7, 2015 | $14.08 | May 31, 2015 | $14.07 |
| Jul 6, 2015 | $0.01 | ||
| Jun 14, 2015 | $14.08 | Jul 6, 2015 | $14.08 |
| Jun 21, 2015 | $14.08 | Jul 6, 2015 | $8.13 |
| Jul 13, 2015 | $5.94 | ||
| Jun 28, 2015 | $14.08 | Jul 13, 2015 | $14.08 |
| Jul 5, 2015 | $14.08 | Jul 13, 2015 | $14.08 |
| Jul 12, 2015 | $14.08 | Jul 13, 2015 | $10.34 |
| Aug 2, 2015 | $3.73 | ||
| Jul 19, 2015 | $14.08 | Aug 2, 2015 | $14.08 |
| Jul 26, 2015 | $14.08 | Aug 2, 2015 | $14.08 |
| Aug 2, 2015 | $14.08 | Aug 2, 2015 | $1.44 |
| Aug 18, 2015 | $12.63 | ||
| Aug 9, 2015 | $14.08 | Aug 18, 2015 | $14.08 |
| Aug 16, 2015 | $14.08 | Aug 18, 2015 | $14.08 |
| Aug 23, 2015 | $14.08 | Aug 18, 2015 | $3.66 |
| Aug 22, 2015 | $10.42 | ||
| Aug 30, 2015 | $14.23 | Aug 22, 2015 | $0.02 |
| Aug 26, 2015 | $14.21 | ||
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