Name
Eric
Member since
September 2014
On-time repayments
25 installments • 72%
I was born and brought up in a rural home set up. As a family we faced many challenges. My Dad passed on when I was only four years old. I am the sixth born in a family of seven.
My mother did what she could manage and I went through education and training. Now I have skills and knowledge which gives me my daily bread.
As I grew up I had an ambition of owning a big business. I have tried to put up business many times but often the business fails badly! In fact I had despaired. I had lost hope of ever doing business. I had become broke.
However, next to my apartment, several residential buildings were under construction. I noticed there was very big demand for steel doors, windows and grilles. I identified a business opportunity here.
Two years ago I rented a house, bought a few machines and tools and off I started the business. Today I do not regret the decision I took. I have a story to tell. You do not need huge savings to start a successful business!
One of my children wants to be a bank manager. Others are yet to tell me.
I do not have a pastime. I am always too busy. However I have scheduled my time so that at least once a day I pray and read the scriptures. I also do research on the net.
I fabricate and sale steel doors, gates, windows, grilles, chairs, beds, etc. my products are in demand because they are long lasting, secure and attractive.
I chose this business because there was demand, and of course it is my area of training.
In a month a spend US Dollars 1700 in purchasing materials, paying rent and electricity, paying my two helpers and licenses. I get an average of US Dollars 350 as revenue or profit per month.
Most of my revenue I spend in educating my children. One of my children is at university.
My focus is to purchase a drilling machine worth US Dollars 942. However i will use this money to buy a job gripping Vice.
currently I am having one vice which brings about delays when two people need a vice simultaneously.
A vice is handy when cutting metals, when grinding pieces of metal and sometimes when welding delicate joints.
they come in different sizes but i will buy the small size. I belief I will experience an improvement in speed generally. This will translate to more production per day,
Positive
1
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Nov 21, 2014
Repayment status
On Time
Projected term
6 weeks
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Amount repaid
$50.66
Amount remaining
$0.00
Date repaid
Jan 10, 2015
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Nov 30, 2014 | $8.44 | Dec 2, 2014 | $8.44 |
Dec 7, 2014 | $8.44 | Dec 11, 2014 | $8.44 |
Dec 14, 2014 | $8.44 | Dec 17, 2014 | $8.44 |
Dec 21, 2014 | $8.44 | Dec 19, 2014 | $8.44 |
Dec 28, 2014 | $8.44 | Jan 2, 2015 | $8.44 |
Jan 4, 2015 | $8.44 | Jan 10, 2015 | $8.44 |
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