Entrepreneur
Name
Wilfred
Member since
September 2015
On-time repayments
213 installments • 12%
About Me
My name is Wilfred Migosi a Kenyan citizen aged 25 years.My primary education started in a remote school by the name Nyagiti Primary somewhere in the heart of Kitutu Chache North constituency in Kisii County.I later on proceeded to St Don Bosco Secondary school where I schooled for four years before joining Chuka University for my Bachelor of Science Agricultural Economics.
My business focuses on beauty services. I have a salon with cosmetics and barbershop all under one roof.
The business started way back in 2011 when I joined University for my undergraduate. Students were traveling 5km away from campus to seek hair related services. Upon realizing the great need for students and staff as well as the community around Chuka University for these services, I decided to put up a facility to address the need.
In the process of conceiving the idea, I realized I had one great challenge; being a student and depending almost entirely on my parents for financial aid with the only hope being the Higher Education loans Board ,I had to slash my budget to an extent of missing two meals so that I could make a saving to start up the business.
I managed to save Ksh.15000 all of which I used to invest in a barbershop. The business picked almost immediately and within two months, I was able to recover the amount I used as my capital. I was motivated so much when I looked at what the work of my hands was able to produce.
You may be interested to know how I managed to serve my customers owing to the fact that I had class work to attend to not mentioning that I was a class representative which meant that I was responsible for coordination of matters within our program that is including but not limited to fixing classes and looking for venues for lectures when need arose. The answer is simple. Time management is a skill that will enable one to do wonders. I knew when i had classes and when there was none so if i wasn’t in class or library, I was in my small shop serving my customers. With time I conditioned my customers that the time for me to conveniently offer the services was in the evening and full time weekend.
I did it on my own until I was able to employ one individual who assisted me when I was unavailable. The business has operated since then up to now we have full salon services with three permanent employees. I with my dedicated employee are committed to providing the best beauty services in town all the time!
My Business
The business offers hair braiding services,trimming services,manicure and pedicure.Within the business we also sell braids to clients as well as nail polish and hair treatment chemicals.
The braids and weaves are basically very useful for both the customers coming for services in our business and those who want to buy the and use them elsewhere.
Looking at the university setting which majorly consists of individuals who focuses on their looks,this business idea came in handy.
We usually pay electricity bills,water as well as the rented room as part of the costs.Maintanance cost for our machines also is requred at least once per m,month
The Business operates majorly on self funding.The profits obtained are re-invested so as to keep the business providing the required services for the clients.
Occasionally,the business seeks soft loan funding especially from mobile banking service Mswari where savings are made and a loan obtained for short term funding.
Part of the income generated is also used for doing expansion within the limit of the available funds.For instance This year alone some amount was set aside to purchase a popcorn machine to utilize the outer extension space in the business.The income from the machine compliments the amount obtained from the main business which actually as seen the business improve each day.
Loan Proposal
I intend to purchase the following items for my salon.
1.blowdry machines@ USD 40.30
2.Two hair clippers @USD 45=90
3.Sink installation USD 20
3.2 seats USD 32
The purchase of the above items will enable ease customer traffic especially now that we will have more machines.There will be undoubted comfort to my waiting customers since they will have the seats to wait for their turns.
Finally the sink will give me a controlled drainage which will make my working space clean and dry.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$171.00
Date disbursed
Apr 17, 2016
Repayment status
Late
Projected term
44 months
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
Summary
Amount repaid
$0.33
Amount remaining
$179.21
Expected completion
Dec 10, 2019
Status
Repaying late
Installment amount
$1.01
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Apr 26, 2016 | $0.17 | Jun 24, 2016 | $0.17 |
| May 3, 2016 | $0.00 | ||
| May 10, 2016 | $0.00 | ||
| May 17, 2016 | $0.00 | ||
| May 24, 2016 | $0.00 | ||
| May 31, 2016 | $0.00 | ||
| Jun 7, 2016 | $0.00 | ||
| Jun 14, 2016 | $0.00 | ||
| Jun 21, 2016 | $0.00 | ||
| Jun 28, 2016 | $0.00 | ||
| Jul 5, 2016 | $0.00 | ||
| Jul 12, 2016 | $1.01 | Jul 15, 2016 | $0.16 |
| Jul 19, 2016 | $1.01 | ||
| Jul 26, 2016 | $1.01 | ||
| Aug 2, 2016 | $1.01 | ||
| Aug 9, 2016 | $1.01 | ||
| Aug 16, 2016 | $1.01 | ||
| Aug 23, 2016 | $1.01 | ||
| Aug 30, 2016 | $1.01 | ||
| Sep 6, 2016 | $1.01 | ||
| Sep 13, 2016 | $1.01 | ||
| Sep 20, 2016 | $1.01 | ||
| Sep 27, 2016 | $1.01 | ||
| Oct 4, 2016 | $1.01 | ||
| Oct 11, 2016 | $1.01 | ||
| Oct 18, 2016 | $1.01 | ||
| Oct 25, 2016 | $1.01 | ||
| Nov 1, 2016 | $1.01 | ||
| Nov 8, 2016 | $1.01 | ||
| Nov 15, 2016 | $1.01 | ||
| Nov 22, 2016 | $1.01 | ||
| Nov 29, 2016 | $1.01 | ||
| Dec 6, 2016 | $1.01 | ||
| Dec 13, 2016 | $1.01 | ||
| Dec 20, 2016 | $1.01 | ||
| Dec 27, 2016 | $1.01 | ||
| Jan 3, 2017 | $1.01 | ||
| Jan 10, 2017 | $1.01 | ||
| Jan 17, 2017 | $1.01 | ||
| Jan 24, 2017 | $1.01 | ||
| Jan 31, 2017 | $1.01 | ||
| Feb 7, 2017 | $1.01 | ||
| Feb 14, 2017 | $1.01 | ||
| Feb 21, 2017 | $1.01 | ||
| Feb 28, 2017 | $1.01 | ||
| Mar 7, 2017 | $1.01 | ||
| Mar 14, 2017 | $1.01 | ||
| Mar 21, 2017 | $1.01 | ||
| Mar 28, 2017 | $1.01 | ||
| Apr 4, 2017 | $1.01 | ||
| Apr 11, 2017 | $1.01 | ||
| Apr 18, 2017 | $1.01 | ||
| Apr 25, 2017 | $1.01 | ||
| May 2, 2017 | $1.01 | ||
| May 9, 2017 | $1.01 | ||
| May 16, 2017 | $1.01 | ||
| May 23, 2017 | $1.01 | ||
| May 30, 2017 | $1.01 | ||
| Jun 6, 2017 | $1.01 | ||
| Jun 13, 2017 | $1.01 | ||
| Jun 20, 2017 | $1.01 | ||
| Jun 27, 2017 | $1.01 | ||
| Jul 4, 2017 | $1.01 | ||
| Jul 11, 2017 | $1.01 | ||
| Jul 18, 2017 | $1.01 | ||
| Jul 25, 2017 | $1.01 | ||
| Aug 1, 2017 | $1.01 | ||
| Aug 8, 2017 | $1.01 | ||
| Aug 15, 2017 | $1.01 | ||
| Aug 22, 2017 | $1.01 | ||
| Aug 29, 2017 | $1.01 | ||
| Sep 5, 2017 | $1.01 | ||
| Sep 12, 2017 | $1.01 | ||
| Sep 19, 2017 | $1.01 | ||
| Sep 26, 2017 | $1.01 | ||
| Oct 3, 2017 | $1.01 | ||
| Oct 10, 2017 | $1.01 | ||
| Oct 17, 2017 | $1.01 | ||
| Oct 24, 2017 | $1.01 | ||
| Oct 31, 2017 | $1.01 | ||
| Nov 7, 2017 | $1.01 | ||
| Nov 14, 2017 | $1.01 | ||
| Nov 21, 2017 | $1.01 | ||
| Nov 28, 2017 | $1.01 | ||
| Dec 5, 2017 | $1.01 | ||
| Dec 12, 2017 | $1.01 | ||
| Dec 19, 2017 | $1.01 | ||
| Dec 26, 2017 | $1.01 | ||
| Jan 2, 2018 | $1.01 | ||
| Jan 9, 2018 | $1.01 | ||
| Jan 16, 2018 | $1.01 | ||
| Jan 23, 2018 | $1.01 | ||
| Jan 30, 2018 | $1.01 | ||
| Feb 6, 2018 | $1.01 | ||
| Feb 13, 2018 | $1.01 | ||
| Feb 20, 2018 | $1.01 | ||
| Feb 27, 2018 | $1.01 | ||
| Mar 6, 2018 | $1.01 | ||
| Mar 13, 2018 | $1.01 | ||
| Mar 20, 2018 | $1.01 | ||
| Mar 27, 2018 | $1.01 | ||
| Apr 3, 2018 | $1.01 | ||
| Apr 10, 2018 | $1.01 | ||
| Apr 17, 2018 | $1.01 | ||
| Apr 24, 2018 | $1.01 | ||
| May 1, 2018 | $1.01 | ||
| May 8, 2018 | $1.01 | ||
| May 15, 2018 | $1.01 | ||
| May 22, 2018 | $1.01 | ||
| May 29, 2018 | $1.01 | ||
| Jun 5, 2018 | $1.01 | ||
| Jun 12, 2018 | $1.01 | ||
| Jun 19, 2018 | $1.01 | ||
| Jun 26, 2018 | $1.01 | ||
| Jul 3, 2018 | $1.01 | ||
| Jul 10, 2018 | $1.01 | ||
| Jul 17, 2018 | $1.01 | ||
| Jul 24, 2018 | $1.01 | ||
| Jul 31, 2018 | $1.01 | ||
| Aug 7, 2018 | $1.01 | ||
| Aug 14, 2018 | $1.01 | ||
| Aug 21, 2018 | $1.01 | ||
| Aug 28, 2018 | $1.01 | ||
| Sep 4, 2018 | $1.01 | ||
| Sep 11, 2018 | $1.01 | ||
| Sep 18, 2018 | $1.01 | ||
| Sep 25, 2018 | $1.01 | ||
| Oct 2, 2018 | $1.01 | ||
| Oct 9, 2018 | $1.01 | ||
| Oct 16, 2018 | $1.01 | ||
| Oct 23, 2018 | $1.01 | ||
| Oct 30, 2018 | $1.01 | ||
| Nov 6, 2018 | $1.01 | ||
| Nov 13, 2018 | $1.01 | ||
| Nov 20, 2018 | $1.01 | ||
| Nov 27, 2018 | $1.01 | ||
| Dec 4, 2018 | $1.01 | ||
| Dec 11, 2018 | $1.01 | ||
| Dec 18, 2018 | $1.01 | ||
| Dec 25, 2018 | $1.01 | ||
| Jan 1, 2019 | $1.01 | ||
| Jan 8, 2019 | $1.01 | ||
| Jan 15, 2019 | $1.01 | ||
| Jan 22, 2019 | $1.01 | ||
| Jan 29, 2019 | $1.01 | ||
| Feb 5, 2019 | $1.01 | ||
| Feb 12, 2019 | $1.01 | ||
| Feb 19, 2019 | $1.01 | ||
| Feb 26, 2019 | $1.01 | ||
| Mar 5, 2019 | $1.01 | ||
| Mar 12, 2019 | $1.01 | ||
| Mar 19, 2019 | $1.01 | ||
| Mar 26, 2019 | $1.01 | ||
| Apr 2, 2019 | $1.01 | ||
| Apr 9, 2019 | $1.01 | ||
| Apr 16, 2019 | $1.01 | ||
| Apr 23, 2019 | $1.01 | ||
| Apr 30, 2019 | $1.01 | ||
| May 7, 2019 | $1.01 | ||
| May 14, 2019 | $1.01 | ||
| May 21, 2019 | $1.01 | ||
| May 28, 2019 | $1.01 | ||
| Jun 4, 2019 | $1.01 | ||
| Jun 11, 2019 | $1.01 | ||
| Jun 18, 2019 | $1.01 | ||
| Jun 25, 2019 | $1.01 | ||
| Jul 2, 2019 | $1.01 | ||
| Jul 9, 2019 | $1.01 | ||
| Jul 16, 2019 | $1.01 | ||
| Jul 23, 2019 | $1.01 | ||
| Jul 30, 2019 | $1.01 | ||
| Aug 6, 2019 | $1.01 | ||
| Aug 13, 2019 | $1.01 | ||
| Aug 20, 2019 | $1.01 | ||
| Aug 27, 2019 | $1.01 | ||
| Sep 3, 2019 | $1.01 | ||
| Sep 10, 2019 | $1.01 | ||
| Sep 17, 2019 | $1.01 | ||
| Sep 24, 2019 | $1.01 | ||
| Oct 1, 2019 | $1.01 | ||
| Oct 8, 2019 | $1.01 | ||
| Oct 15, 2019 | $1.01 | ||
| Oct 22, 2019 | $1.01 | ||
| Oct 29, 2019 | $1.01 | ||
| Nov 5, 2019 | $1.01 | ||
| Nov 12, 2019 | $1.01 | ||
| Nov 19, 2019 | $1.01 | ||
| Nov 26, 2019 | $1.01 | ||
| Dec 3, 2019 | $1.01 | ||
| Dec 10, 2019 | $0.07 | ||
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