Entrepreneur
Name
Mwenda
Member since
March 2016
On-time repayments
263 installments • 63%
About Me
My full name is Mwenda Kaluwaji aged 31 male based in Lusaka Zambia. I grew up in a huge family where we had to share every little we had. Completed my high school back in the year 2006 then went on to pursue a course in business management which has always been my passion. Well after College I got a job at Entrepreneurs Financial Centre (EFC Zambia) one of the leading micro-finance organisation in Zambia. I was hired as a Sales Representative. Unfortunately the job did not last as expected ,but since I had saved some money I decided to start a business from the experience I got interacting with entrepreneurs from different walks of life and backgrounds. I later decided to venture into a profit making business till to date.
The uniqueness of my country is that it has about 60 percent of water-bodies of southern Africa contained in Zambia.
I envision my children to grow up in a modern city so as to ease and increase opportunities for them to pursue careers that they will be passionate about and ultimately be relevant in society.
And lastly, my hobbies include but not limited to reading and travelling.
My Business
My business is growing by the day and i have just ventured into potato selling.
This type of business is on demand because of growing fast foods restaurants around.
Having gained experience in running businesses i have decided to diversify into potato selling because of low cost of running it and also having access to my daily profits will help me plan well for growth plus during winter sales for potatos go up hence taking up this business during the gold rush season.
My typical costs range from paying rent $50 for my shop monthly, i have only employee who helps me when i go out to do other errands and so salary lunch plus transport is costing to $100 then also ordering of poatoes costs every week $200
The previous loan has really helped me stabalise my savings. the loan im applying for will greatly help me boost my stock through profits to reinvest in the business for more growth, i will also manage to pay for my degree program which im starting next month and manage other expenses.
Loan Proposal
This loan when acquired will greatly help me get a second booth, a phone to use plus material to mount it at a location I have already secured total expense being at $110. The remaining amount will be used as agent float so that I can provide a seamless service to my customers.
The benefits are immense as this will help me expand my business network as well as create more revenue streams for my business. It will also create employment to my fellow youth as they will also get the benefit of getting paid and it will further put me on track to explore other business opportunities as I strive to contribute into service delivery as an agent of mobile money solutions. Having a second booth will also mean that I will be able to increase my monthly savings and also afford to pay my running costs promptly.
Because of the steady growth of demand and foot traffic at my current booth, I expect my profit margins to increase greatly to above 30% monthly.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$634.00
Date disbursed
Jan 10, 2019
Repayment status
On Time
Projected term
8 months
Lenders
Southampton, United Kingdom
Austin, United States
WOLLONGONG, Australia
St-Lucien, Canada
Tromso, Norway, Norway
New York, NY, United States
Tampin, Malaysia
Beach City, United States
Denver, United States
Australia
Sacramento, United States
Helsinki, Finland
Brazil
Germany
United States
Norway
Hamburg, Germany
Norway
United States
Franklin, TN, United States
Brazil
Kirkland, WA, United States
United States
Asheville, Nc, United States
United States
United Kingdom
Germany
United States
United Kingdom
Germany
United States
Australia
United States
United States
Sweden
United Kingdom
Greece
Ask Mwenda a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
BernadetteV Aug 14, 2017
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