Name
Michael
Member since
February 2015
On-time repayments
188 installments • 82%
My name is Michael Mutiso, born in Makueni county of Kenya – 35 years ago. I was born in a farming community in an area which is semi arid with an acute shortage of water. I was raised up in this rural area far away from modern civilizations. I led that simple life until I finished my secondary education and relocated to Mombasa where I began my second phase of my life.
Once in Mombasa, I enrolled in a college where I did course in sales and marketing. This course took two years to complete. I got a job shortly afterwards with local companies where I worked as a salesman and this I did for five years.
I decided to quit after the five year stint and started my own business of making soaps and detergents.
I am a family man with a wife and two children – aged 4 and 7 years.
My business deals with manufacturing soaps and detergents using simple equipment. I use raw materials such as glycerine, hydrochloric acid, industrial salt etc. I mix them using buckets and stirring stick and then package them into quantities ranging from 1 liters to 20 liters.
My main clients are shops (to retail), restaurants, hospitals and people in residential areas. They prefer my products because they are cheaper and more effective than those made by big companies. I manage to keep the price low due to low production cost and use of simple techniques. I normally package the finished products using recycled containers further reducing the cost.
I make a net profit of about $250 per month which I use for family’s sustenance.
If I get this money, I will use it to buy more raw materials so that I produce more products. I will use half of it to buy hydrochloric acid and the rest to buy industrial salt. I will also spare a small amount to buy recycled containers. I normally buy these containers from street kids and this preserves the environment as well as giving the unfortunate kids something to spend.
This stock will keep me going for a number of months thus ensuring smooth running of my business.
I expect to make good returns from the sale of the finished product which will mean a better life for my family.
Positive
1
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 4, 2015
Repayment status
On Time
Projected term
4 months
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Amount repaid
$103.84
Amount remaining
$0.00
Date repaid
Jun 28, 2015
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Feb 15, 2015 | $5.19 | Feb 14, 2015 | $5.19 |
Feb 22, 2015 | $5.19 | Feb 14, 2015 | $0.37 |
Feb 21, 2015 | $4.82 | ||
Mar 1, 2015 | $5.19 | Feb 21, 2015 | $0.39 |
Feb 28, 2015 | $4.80 | ||
Mar 8, 2015 | $5.19 | Feb 28, 2015 | $0.98 |
Mar 7, 2015 | $4.21 | ||
Mar 15, 2015 | $5.19 | Mar 7, 2015 | $0.23 |
Mar 14, 2015 | $4.11 | ||
Mar 27, 2015 | $0.84 | ||
Mar 22, 2015 | $5.19 | Mar 27, 2015 | $3.60 |
Apr 4, 2015 | $1.59 | ||
Mar 29, 2015 | $5.19 | Apr 4, 2015 | $3.97 |
Apr 11, 2015 | $1.22 | ||
Apr 5, 2015 | $5.19 | Apr 11, 2015 | $3.33 |
Apr 23, 2015 | $1.86 | ||
Apr 12, 2015 | $5.19 | Apr 23, 2015 | $3.92 |
May 2, 2015 | $1.27 | ||
Apr 19, 2015 | $5.19 | May 2, 2015 | $4.62 |
May 9, 2015 | $0.57 | ||
Apr 26, 2015 | $5.19 | May 9, 2015 | $1.99 |
May 16, 2015 | $2.56 | ||
May 23, 2015 | $0.64 | ||
May 3, 2015 | $5.19 | May 23, 2015 | $3.02 |
May 30, 2015 | $2.17 | ||
May 10, 2015 | $5.19 | May 30, 2015 | $2.61 |
Jun 9, 2015 | $2.58 | ||
May 17, 2015 | $5.19 | Jun 9, 2015 | $5.19 |
May 24, 2015 | $5.19 | Jun 9, 2015 | $2.57 |
Jun 10, 2015 | $2.62 | ||
May 31, 2015 | $5.19 | Jun 10, 2015 | $3.26 |
Jun 17, 2015 | $1.93 | ||
Jun 7, 2015 | $5.19 | Jun 17, 2015 | $3.96 |
Jun 22, 2015 | $1.23 | ||
Jun 14, 2015 | $5.19 | Jun 22, 2015 | $3.54 |
Jun 24, 2015 | $1.64 | ||
Jun 21, 2015 | $5.19 | Jun 24, 2015 | $0.91 |
Jun 28, 2015 | $4.28 | ||
Jun 28, 2015 | $5.26 | Jun 28, 2015 | $5.26 |
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