Entrepreneur
Name
Paul
Member since
January 2014
On-time repayments
63 installments • 30%
About Me
I am an enthusiastic gentleman with a great passion for business. I live in an area which is fast developing a situation that has created numerous business opportunities. I have a degree in finance management. Currently am doing business while pursuing a part-time accounts professional course. I started business in a bid to meet my daily life expenses plus my education expenses. The fact that there exist many business opportunities also encouraged me to start my own business. I use the surplus to expand my business through purchasing additional stock.
My Business
My business entails selling carpets and door mats. There is a high demand for these items since real estate in my locality is growing rapidly. Since i started this business the sales have been growing exponentially. People prefer my business due to auxiliary services such as home delivery. Profitability in the business is high due to low cost of doing the business; however the business faces competition risk due to new entrants. Currently my business earns an average net profit of $ 300 a month. This amount will enable to conveniently meet my loan obligations.
Loan Proposal
I will purchase bulk stock with 75% of the money that will be lend to me. I will use 25 % of the money in enhancing my marketing strategies. The current size of my business is not cost effective. I need to add stock due to the rising sales levels and to meet the overall cost of conducting business. I often find myself running out of stock at odd times and incur significant costs due to restocking inefficiencies. I have decided to use personal selling marketing strategy for part of the stock. I have sited that most people in my region do not know where to get items such as door mats. I have hence decided to distribute them personally to potential buyers. I am highly optimistic that my venture will generate enough money to for the business as well as repaying the loan.
Feedback
Positive
1
Neutral
None
Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$148.00
Date disbursed
Jul 1, 2014
Repayment status
Late
Projected term
11 months
Other loans
Lenders
Calgary, Canada
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Summary
Amount repaid
$20.93
Amount remaining
$146.58
Expected completion
Jun 5, 2015
Status
Repaying late
Installment amount
$3.49
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jul 11, 2014 | $10.29 | Jul 11, 2014 | $10.29 |
| Jul 18, 2014 | $0.17 | Jul 11, 2014 | $0.17 |
| Jul 25, 2014 | $3.49 | Aug 10, 2014 | $3.49 |
| Aug 1, 2014 | $3.49 | Aug 10, 2014 | $3.49 |
| Aug 8, 2014 | $3.49 | Aug 10, 2014 | $3.49 |
| Aug 15, 2014 | $3.49 | ||
| Aug 22, 2014 | $3.49 | ||
| Aug 29, 2014 | $3.49 | ||
| Sep 5, 2014 | $3.49 | ||
| Sep 12, 2014 | $3.49 | ||
| Sep 19, 2014 | $3.49 | ||
| Sep 26, 2014 | $3.49 | ||
| Oct 3, 2014 | $3.49 | ||
| Oct 10, 2014 | $3.49 | ||
| Oct 17, 2014 | $3.49 | ||
| Oct 24, 2014 | $3.49 | ||
| Oct 31, 2014 | $3.49 | ||
| Nov 7, 2014 | $3.49 | ||
| Nov 14, 2014 | $3.49 | ||
| Nov 21, 2014 | $3.49 | ||
| Nov 28, 2014 | $3.49 | ||
| Dec 5, 2014 | $3.49 | ||
| Dec 12, 2014 | $3.49 | ||
| Dec 19, 2014 | $3.49 | ||
| Dec 26, 2014 | $3.49 | ||
| Jan 2, 2015 | $3.49 | ||
| Jan 9, 2015 | $3.49 | ||
| Jan 16, 2015 | $3.49 | ||
| Jan 23, 2015 | $3.49 | ||
| Jan 30, 2015 | $3.49 | ||
| Feb 6, 2015 | $3.49 | ||
| Feb 13, 2015 | $3.49 | ||
| Feb 20, 2015 | $3.49 | ||
| Feb 27, 2015 | $3.49 | ||
| Mar 6, 2015 | $3.49 | ||
| Mar 13, 2015 | $3.49 | ||
| Mar 20, 2015 | $3.49 | ||
| Mar 27, 2015 | $3.49 | ||
| Apr 3, 2015 | $3.49 | ||
| Apr 10, 2015 | $3.49 | ||
| Apr 17, 2015 | $3.49 | ||
| Apr 24, 2015 | $3.49 | ||
| May 1, 2015 | $3.49 | ||
| May 8, 2015 | $3.49 | ||
| May 15, 2015 | $3.49 | ||
| May 22, 2015 | $3.49 | ||
| May 29, 2015 | $3.49 | ||
| Jun 5, 2015 | $0.07 | ||
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