Storage cylinder acquisition

Olumide Adebayo

Badagry, Nigeria

100% repaid

Entrepreneur

Name

Olumide Adebayo

Member since

December 2018

On-time repayments

162 installments  •  100%

About Me

I am a first degree holder of Obafemi Awolowo University Ile - Ife, and currently enrolled for a Master of Business Administration degree of the National Open University of Nigeria. I possess well over 11 years post NYSC business management experience having completed youth service in 2008. I was awarded a commendation letter for outstanding performance on behalf of the Gombe State Government, by my place of primary assignment in 2008. I have attended several Entrepreneurship trainings (both paid and free) including a 5-day YESP training sponsored by the Bank of Industry at the Lagos Business School in 2016. The Nigerian business environment, where I operate, though quite challenging, but at the same time very ineresting. Of the numerous challenges Entrepreneurs are facing in Nigeria, accessing affordable funding for business scaling and expansion stands out.

My Business

We are in the business of retailing cooking gas to both domestic as well as industrial users in our community. We also trade cooking gas cylinders and accessories. We hope to diversify into repairs and servicing of faulty gas stoves as well as training youths on refilling operations as well as repairs and servicing to empower the teeming unemployed youths in our community. The business currently operate from the ancient town of Badagry, Lagos State of Nigeria.

Loan Proposal

The loan will be deployed to acquire 2 numbers 50kg capacity cylinders to enhance our gas storage capacity by 100. This will enable us buy more quantity from our suppliers per time at a discounted price

My Videos

Jan 24, 2021: Gas plaza video

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$109.84

Date disbursed

Apr 6, 2019

Repayment status

On Time

Projected term

5 weeks

Cost to entrepreneur

Service fee: $4.69

Credit risk payment: $28.14

Lenders

MarktheMormon

Sandy, Utah, United States

M

Margaret

United States

JH

Joseph Hwang

Houston, United States

petter

Finland

Helen and Denis

Global citizens, United States

HL

Harris Lin

New Zealand

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