Stephen
Nairobi, Kenya
69% repaid
Name
Stephen
Member since
February 2015
On-time repayments
271 installments • 40%
My names are Stephen Karanja Mwai and I am 29 years old. I was brought up in a humble background in a remote village in Ndia Constituency in Kirinyaga County. As the last born in a family of ten, I was fortunate to have elder brothers and sisters who supported me in my education. Nevertheless, I was not lucky enough to enjoy the warmth and soothing words of my mother who died of hypertensive stroke when I was only three years old. I attended a local primary school where I studied for 9 years. Waking up at the crack of dawn and walking 2 kilometers to school every day on bare foot for 9 years is an experience that will always linger in my mind. Despite lack of school fees on a number of occasions, my persistence enabled me to score good grades that landed me in a reputable high school in 2001. Six years later, I joined Kenyatta University where I pursued a Bsc. degree in Biotechnology for four years. After graduating in Dec 2010, my expectations and hopes of securing a good job were high. Moreover, people at my place always have a lot of hope in the few individuals who are lucky to acquire university education. After looking for a job for four months without success, I consulted my friends who offered to train me as a freelance writer. Since I did not have a personal computer, I had to learn typing and writing research papers in the cyber. At first, it was challenging because of my slow typing speed and lack of money to settle my bills. After one year of hard work, I managed to buy my own laptop which made my work much easier and convenient. In the meantime, my relatives and friends at home were constantly asking me whether I got a well-paying job. I felt bad to disappoint them when I told them that I was still hustling for one. Once I became proficient as freelance writer, I decided to save some money with the aim of starting a small business. Given that freelance writing is a seasonal job, I saw it prudent to invest $940 of my savings in a retail shop. Before I managed to save this money, I had struggled with the problem of unwise spending of my money. After realizing that I needed help to overcome this problem, I took the initiative to attend various seminars where I gained useful tips on how to inculcate a culture of saving. With the help of my niece, the business has picked up well. When I am not in my shop, I am writing research papers while my niece operates the business. Moreover, the business is young and therefore requires more investment so that it can reach a stage where it can sustain itself. As such, a certain percentage of the money that I earn from freelance writing is channeled towards expanding the range of products available in my shop. Before making the decision to invest my hard-earned savings in the shop business, I took time to locate the best location that had the potential for doing the business. With the help of my brother who have many years of experience in business, I was able to locate a good place in Kayole Nairobi. My hope is to grow the business gradually with the goal of having my own supermarket. My hobbies include playing guitar, swimming, writing academic papers, and posting comments on social media.
My business is a retail shop that deals with selling food items such as rice, maize flour, wheat flour, sugar, cooking oil, baked products such as cakes and bread, milk, eggs, and juices. Recently, I have added hair gels and lotions to the stock. The shop is located in the outskirts of Nairobi City in a town called Kayole. I started the business about one year ago with a capital of $940. The shop serves a fairly large number of customers since it is strategically located at a junction along a busy street with many residents and passersby. The goods that I sell at my shop have a high demand since the area is residential with many low and middle income earners who need to do frequent shopping of food items to feed their families. The name of my business is "Nafuu Budget Shop." The reason I chose this name is because I wanted to catch the attention of potential customers in an area where some shop owners have even posted the prices of their items on the windows of their shops just to enable customers compare prices. The term "Nafuu" means better. As such, customers have been flocking at my shop, curious of doing their shopping at better prices. Moreover, the area is dominated by middle and low income earners who are often keen to compare prices before they make their purchasing decisions. My typical costs include the cost of buying stock to re-stock the shop and also introduce new items. On a weekly basis, approximately $300 may be spent on stock and transport of the goods from the wholesalers' premises to the shop. In terms of revenue, the business generates about $550 every month. Out of this, the net profit is about $330. Part of the profit is used to pay for the rented space while some is used to pay the salary of my assistant. Nevertheless, the largest percentage of the profit is reinvested into the business to expand the range of products available as per customers' demands.
If my loan proposal gets fully funded, I intend to invest the whole amount of $554 into a transportation project. A motorbike for my business will make a significant difference in my retail shop business because I will be able to penetrate into areas where products are sold at very low prices. Currently, I depend on the services of the nearest wholesalers who supply products at prices that make it impossible to compete with bigger shops. Since my competitors have enough capital to order large stocks, they are able to compete on a higher level by offering cheaper prices. In order to attract more customers and retain my loyal customers, the motorbike project will facilitate access to wholesalers who sell commodities almost 10% lower.
While a 50 kilos bag of sugar is being sold at $44 by the nearest wholesaler, I will be able to get it at $40 from markets further from my business. The same case applies to all other commodities. The cost implication in terms of fuel will be insignificant because I will no longer rely on wholesaler's transport services. The motorbike will also be ferrying passengers when it is not being used for carrying stock.
On average, I anticipate a monthly increase in net profit from the current $330 to $430. In addition, the proceeds obtained from carrying passengers will help me to meet my loan obligations without any delays. A $100 increase in monthly net profit will mean better savings and higher wages for my assistant. Overall, the project will give my business a new beginning.
Positive
1
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$554.00
Date disbursed
May 5, 2016
Repayment status
Late
Projected term
52 months
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Amount repaid
$403.44
Amount remaining
$178.26
Expected completion
Aug 31, 2020
Status
Repaying late
Installment amount
$0.50
Expected Payments | Actual Payments | ||
---|---|---|---|
May 16, 2016 | $10.09 | May 16, 2016 | $10.09 |
May 23, 2016 | $10.09 | May 22, 2016 | $10.09 |
May 30, 2016 | $10.09 | May 30, 2016 | $10.09 |
Jun 6, 2016 | $10.09 | Jun 5, 2016 | $10.09 |
Jun 13, 2016 | $10.09 | Jun 12, 2016 | $10.09 |
Jun 20, 2016 | $10.09 | Jun 20, 2016 | $10.09 |
Jun 27, 2016 | $10.09 | Jun 27, 2016 | $10.09 |
Jul 4, 2016 | $10.09 | Jul 5, 2016 | $10.09 |
Jul 11, 2016 | $10.09 | Jul 11, 2016 | $10.09 |
Jul 18, 2016 | $10.09 | Jul 18, 2016 | $10.09 |
Jul 25, 2016 | $10.09 | Jul 25, 2016 | $10.09 |
Aug 1, 2016 | $10.09 | Aug 2, 2016 | $10.09 |
Aug 8, 2016 | $10.09 | Aug 9, 2016 | $10.09 |
Aug 15, 2016 | $0.00 | ||
Aug 22, 2016 | $5.04 | Aug 29, 2016 | $5.04 |
Aug 29, 2016 | $5.04 | Aug 31, 2016 | $5.04 |
Sep 5, 2016 | $5.04 | Sep 24, 2016 | $5.04 |
Sep 12, 2016 | $5.04 | Oct 2, 2016 | $5.04 |
Sep 19, 2016 | $5.04 | Oct 7, 2016 | $5.04 |
Sep 26, 2016 | $0.00 | ||
Oct 3, 2016 | $0.00 | ||
Oct 10, 2016 | $0.00 | ||
Oct 17, 2016 | $2.02 | Oct 16, 2016 | $2.02 |
Oct 24, 2016 | $2.02 | Oct 23, 2016 | $2.02 |
Oct 31, 2016 | $2.02 | Oct 31, 2016 | $2.02 |
Nov 7, 2016 | $2.02 | Nov 6, 2016 | $2.02 |
Nov 14, 2016 | $2.02 | Nov 13, 2016 | $2.02 |
Nov 21, 2016 | $2.02 | Dec 4, 2016 | $2.02 |
Nov 28, 2016 | $2.02 | Dec 4, 2016 | $2.02 |
Dec 5, 2016 | $2.02 | Dec 4, 2016 | $2.02 |
Dec 12, 2016 | $2.02 | Dec 18, 2016 | $2.02 |
Dec 19, 2016 | $2.02 | Jan 4, 2017 | $2.02 |
Dec 26, 2016 | $2.02 | Jan 16, 2017 | $2.02 |
Jan 2, 2017 | $2.02 | Feb 20, 2017 | $2.02 |
Jan 9, 2017 | $2.02 | Feb 20, 2017 | $2.02 |
Jan 16, 2017 | $2.02 | Feb 26, 2017 | $2.02 |
Jan 23, 2017 | $2.02 | Mar 1, 2017 | $2.02 |
Jan 30, 2017 | $2.02 | Nov 20, 2018 | $2.02 |
Feb 6, 2017 | $2.02 | Nov 25, 2018 | $2.02 |
Feb 13, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Feb 20, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Feb 27, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Mar 6, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Mar 13, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Mar 20, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Mar 27, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Apr 3, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Apr 10, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Apr 17, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Apr 24, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
May 1, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
May 8, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
May 15, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
May 22, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
May 29, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jun 5, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jun 12, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jun 19, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jun 26, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jul 3, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jul 10, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jul 17, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jul 24, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jul 31, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Aug 7, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Aug 14, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Aug 21, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Aug 28, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Sep 4, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Sep 11, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Sep 18, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Sep 25, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Oct 2, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Oct 9, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Oct 16, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Oct 23, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Oct 30, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Nov 6, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Nov 13, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Nov 20, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Nov 27, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Dec 4, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Dec 11, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Dec 18, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Dec 25, 2017 | $2.02 | Nov 26, 2018 | $2.02 |
Jan 1, 2018 | $2.02 | Nov 26, 2018 | $2.02 |
Jan 8, 2018 | $2.02 | Nov 26, 2018 | $2.02 |
Jan 15, 2018 | $2.02 | Nov 26, 2018 | $2.02 |
Jan 22, 2018 | $2.02 | Nov 26, 2018 | $2.02 |
Jan 29, 2018 | $0.00 | ||
Feb 5, 2018 | $0.00 | ||
Feb 12, 2018 | $0.00 | ||
Feb 19, 2018 | $0.00 | ||
Feb 26, 2018 | $0.00 | ||
Mar 5, 2018 | $0.00 | ||
Mar 12, 2018 | $0.00 | ||
Mar 19, 2018 | $0.00 | ||
Mar 26, 2018 | $0.00 | ||
Apr 2, 2018 | $0.00 | ||
Apr 9, 2018 | $0.00 | ||
Apr 16, 2018 | $0.00 | ||
Apr 23, 2018 | $0.00 | ||
Apr 30, 2018 | $0.00 | ||
May 7, 2018 | $0.00 | ||
May 14, 2018 | $0.00 | ||
May 21, 2018 | $0.00 | ||
May 28, 2018 | $0.00 | ||
Jun 4, 2018 | $0.00 | ||
Jun 11, 2018 | $0.00 | ||
Jun 18, 2018 | $0.00 | ||
Jun 25, 2018 | $0.00 | ||
Jul 2, 2018 | $0.00 | ||
Jul 9, 2018 | $0.00 | ||
Jul 16, 2018 | $0.00 | ||
Jul 23, 2018 | $0.00 | ||
Jul 30, 2018 | $0.00 | ||
Aug 6, 2018 | $0.00 | ||
Aug 13, 2018 | $0.00 | ||
Aug 20, 2018 | $0.00 | ||
Aug 27, 2018 | $0.00 | ||
Sep 3, 2018 | $0.00 | ||
Sep 10, 2018 | $0.00 | ||
Sep 17, 2018 | $0.00 | ||
Sep 24, 2018 | $0.00 | ||
Oct 1, 2018 | $0.00 | ||
Oct 8, 2018 | $0.00 | ||
Oct 15, 2018 | $0.00 | ||
Oct 22, 2018 | $0.00 | ||
Oct 29, 2018 | $0.00 | ||
Nov 5, 2018 | $0.00 | ||
Nov 12, 2018 | $0.00 | ||
Nov 19, 2018 | $0.00 | ||
Nov 26, 2018 | $1.01 | Nov 28, 2018 | $1.01 |
Dec 3, 2018 | $10.59 | Nov 28, 2018 | $10.59 |
Dec 10, 2018 | $10.59 | Nov 28, 2018 | $10.59 |
Dec 17, 2018 | $10.59 | Nov 28, 2018 | $10.59 |
Dec 24, 2018 | $10.59 | Nov 28, 2018 | $10.59 |
Dec 31, 2018 | $8.07 | Nov 28, 2018 | $8.07 |
Jan 7, 2019 | $2.02 | Jan 8, 2019 | $2.02 |
Jan 14, 2019 | $2.02 | Jan 14, 2019 | $2.02 |
Jan 21, 2019 | $2.02 | Jan 21, 2019 | $2.02 |
Jan 28, 2019 | $2.02 | Jan 26, 2019 | $2.02 |
Feb 4, 2019 | $2.02 | Feb 4, 2019 | $2.02 |
Feb 11, 2019 | $2.02 | Feb 20, 2019 | $2.02 |
Feb 18, 2019 | $2.02 | Feb 20, 2019 | $2.02 |
Feb 25, 2019 | $2.02 | Feb 20, 2019 | $2.02 |
Mar 4, 2019 | $2.02 | Mar 20, 2019 | $2.02 |
Mar 11, 2019 | $2.02 | Mar 20, 2019 | $2.02 |
Mar 18, 2019 | $2.02 | Mar 20, 2019 | $2.02 |
Mar 25, 2019 | $2.02 | Mar 20, 2019 | $2.02 |
Apr 1, 2019 | $0.00 | ||
Apr 8, 2019 | $2.02 | Apr 5, 2019 | $2.02 |
Apr 15, 2019 | $2.02 | Apr 9, 2019 | $2.02 |
Apr 22, 2019 | $2.02 | Apr 9, 2019 | $2.02 |
Apr 29, 2019 | $2.02 | Apr 24, 2019 | $2.02 |
May 6, 2019 | $2.02 | May 9, 2019 | $2.02 |
May 13, 2019 | $2.02 | May 12, 2019 | $2.02 |
May 20, 2019 | $2.02 | May 22, 2019 | $2.02 |
May 27, 2019 | $2.02 | May 22, 2019 | $2.02 |
Jun 3, 2019 | $2.02 | Jun 4, 2019 | $2.02 |
Jun 10, 2019 | $2.02 | Jun 12, 2019 | $2.02 |
Jun 17, 2019 | $2.02 | Jun 20, 2019 | $2.02 |
Jun 24, 2019 | $2.02 | Jun 26, 2019 | $2.02 |
Jul 1, 2019 | $2.02 | Jul 4, 2019 | $2.02 |
Jul 8, 2019 | $2.02 | Jul 10, 2019 | $2.02 |
Jul 15, 2019 | $0.00 | ||
Jul 22, 2019 | $0.00 | ||
Jul 29, 2019 | $0.00 | ||
Aug 5, 2019 | $1.01 | Sep 28, 2019 | $1.01 |
Aug 12, 2019 | $0.00 | ||
Aug 19, 2019 | $0.00 | ||
Aug 26, 2019 | $0.00 | ||
Sep 2, 2019 | $0.00 | ||
Sep 9, 2019 | $0.00 | ||
Sep 16, 2019 | $0.00 | ||
Sep 23, 2019 | $0.00 | ||
Sep 30, 2019 | $0.50 | Oct 5, 2019 | $0.50 |
Oct 7, 2019 | $0.50 | Oct 5, 2019 | $0.50 |
Oct 14, 2019 | $0.50 | Oct 19, 2019 | $0.50 |
Oct 21, 2019 | $0.50 | Nov 2, 2019 | $0.50 |
Oct 28, 2019 | $0.50 | Nov 2, 2019 | $0.50 |
Nov 4, 2019 | $0.50 | Nov 15, 2019 | $0.50 |
Nov 11, 2019 | $0.50 | Nov 15, 2019 | $0.50 |
Nov 18, 2019 | $0.50 | Dec 3, 2019 | $0.50 |
Nov 25, 2019 | $0.50 | Dec 3, 2019 | $0.50 |
Dec 2, 2019 | $0.00 | ||
Dec 9, 2019 | $0.50 | Dec 18, 2019 | $0.50 |
Dec 16, 2019 | $0.00 | ||
Dec 23, 2019 | $0.00 | ||
Dec 30, 2019 | $0.00 | ||
Jan 6, 2020 | $0.00 | ||
Jan 13, 2020 | $0.50 | Jan 12, 2020 | $0.50 |
Jan 20, 2020 | $0.50 | Jan 19, 2020 | $0.50 |
Jan 27, 2020 | $0.50 | Feb 2, 2020 | $0.50 |
Feb 3, 2020 | $0.50 | Feb 14, 2020 | $0.50 |
Feb 10, 2020 | $0.00 | ||
Feb 17, 2020 | $0.00 | ||
Feb 24, 2020 | $0.00 | ||
Mar 2, 2020 | $0.00 | ||
Mar 9, 2020 | $0.00 | ||
Mar 16, 2020 | $0.00 | ||
Mar 23, 2020 | $0.00 | ||
Mar 30, 2020 | $0.00 | ||
Apr 6, 2020 | $0.50 | ||
Apr 13, 2020 | $0.50 | ||
Apr 20, 2020 | $0.50 | ||
Apr 27, 2020 | $0.50 | ||
May 4, 2020 | $0.50 | ||
May 11, 2020 | $10.59 | ||
May 18, 2020 | $10.59 | ||
May 25, 2020 | $10.59 | ||
Jun 1, 2020 | $10.59 | ||
Jun 8, 2020 | $10.59 | ||
Jun 15, 2020 | $10.59 | ||
Jun 22, 2020 | $10.59 | ||
Jun 29, 2020 | $10.59 | ||
Jul 6, 2020 | $10.59 | ||
Jul 13, 2020 | $10.59 | ||
Jul 20, 2020 | $10.59 | ||
Jul 27, 2020 | $10.59 | ||
Aug 3, 2020 | $10.59 | ||
Aug 10, 2020 | $10.59 | ||
Aug 17, 2020 | $10.59 | ||
Aug 24, 2020 | $10.59 | ||
Aug 31, 2020 | $6.29 |
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