Sayed Abdelhamid’s story:
Sayed is an Electrician who has a small shop that sells some electric switches, lamps and other household electric supplies. He sometimes also leaves his shop to do some maintenance at different homes nearby when his services are needed. He has been operating his small business for more than 20 years which he takes from his father. He has 2 kids in elementary school.
Sayed is 40 years old and lives in Giza.
Sayed has reached out to Naslink to help provide him funding for a drill (Hilti) that can drill in concrete. He also needs some operating cash to buy more electric household merchandise for his shop, so people find more things to buy.
More trading from his shop and additional electric services will increase his income to be able to afford the different life expenses.
Loan needed: 8000
Loan period: 6 months
Naslink Note:
Sayed’s business module is pretty straight forward and the surplus he makes will enable him to afford such a loan. Although the price of the service is low in his neighborhood, it is still a skill that is always be in demand. His shop has very low rent and all is expenses are goods that he needs to put on display.
Loan Terms and conditions:
• Zero Interest Rate
• Monthly Repayment
Naslink will wait for 75% of requests before transfer to the borrower. Repayments start 1 month from transfer to borrowers.
By supporting this borrower, you are agreeing to the following:
• An admin fee of 4.5% will be deducted from the repayment installments.
• Fees are used for verification and operational expenses.
• An optional 5% of support amount may be given by the supporter to the borrower at the repayment of the last installment as an incentive for full repayment.
• Automatic re-lending options may be selected at payment.
• Supporters may not support more than 50% of the loan.
• All payments are electronically exchanged for transparency. No cash exchange.
• No credit card or other similar financial data is stored on our system. Just name and phone number.
• The borrower is signing legally binding documents and contracts to ensure the full repayment of support.