Name
Charles
Member since
January 2015
On-time repayments
189 installments • 18%
Am Charles Kiio and my age is 25 years. My parents are Mr. and Mrs. Patrick Nduva. I come from Mukaa region in Makueni county. am a single and currently in college pursuing a degree in civil engineering.
I have eight siblings and am the only one who is learned. My parents are unprofessional and this made our childhood life very challenging. This is due to the large family and no good job for my parents. My siblings went up to class eight. I managed to go to high school because of good marks and due to the fact that my father volunteered to work as a casual to pay for my fees.The salary was megre though. after hard work and commitment i managed to secure a place in a public university where the fees is catered for by the government ,thanks to the HELB loan.
I came to think of business in my second year as i had too little money for my upkeep in school. I started a small business in Athi-river town of selling house hold commodities. The profit i get i use part of it for my need s and the rest goes back to the business. This has kept me going up to now.
Am single and have no children to depend on me.
during free time i like reading novels, doing photography and listening to gospel music.
I sell household commodities in an open air market. This is because the goods are of high demand due to the fact that every home requires them in day to day basis. I chose this kind of business because:
1. The commodities are durable.
2. It does not require big capital to start or buy the goods.
3. It is easy to manage.
4. It also does not necessarily require a shop at the start and cuts on expenses of having to pay for rent, but due to dust, i have now rented a shop, and also due to the fact that the business has grown.
5. Again they are not seasonal, i.e. demand is always assured.
The cost of the commodities range from 1$ to 3 $ and can fetch a profit of up to 50% their price each. All in all i now collect a profit of about 60$ a week. I use part of the profit for my upkeep in school and the rest i boost the business by reinvesting again.
after getting my first loan i was able to rent a shop and employ an attendant. this made the profits to increase by almost double i.e 100$ a week. i have used this profit to pay for the rent, salary for my employer, and reinvesting back to the business. my school life is no longer challenging as before,and am also able to support my parents back at home.
Once the zidisha community entrusts me with this loan ,i intent to buy more inventory not in the business and are in demand . This is because currently the business is not able to meet the high demand from the people though its expanding. I have planed to open a shop because, in the open air market the commodities get some dust which with time affects sells. Dusty goods look old and not eye catching. I will add the amount i get to the capital i have saved of 30$ to improve on the business and i will confidently employ somebody to ensure that the it is running all through the days of the week.
I will use the new capital as follows:
a) rent shop for 10$
b) new inventory 50$
c) employee 10$
When this is implemented, the business will expand and profits increase by 60% .I assure you that i will commit myself to repay the loan as i have filled above. I will also be able to comment on the success of the business.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Jan 23, 2015
Repayment status
On Time
Projected term
6 weeks
Other loans
Amount repaid
$50.99
Amount remaining
$0.00
Date repaid
Mar 8, 2015
Status
Fully repaid
Expected Payments | Actual Payments | ||
---|---|---|---|
Feb 1, 2015 | $8.49 | Feb 1, 2015 | $8.49 |
Feb 8, 2015 | $8.49 | Feb 1, 2015 | $0.49 |
Feb 8, 2015 | $8.00 | ||
Feb 15, 2015 | $8.49 | Feb 8, 2015 | $0.09 |
Feb 15, 2015 | $8.40 | ||
Feb 22, 2015 | $8.49 | Feb 15, 2015 | $0.02 |
Feb 22, 2015 | $8.47 | ||
Mar 1, 2015 | $8.49 | Feb 22, 2015 | $0.07 |
Mar 1, 2015 | $8.43 | ||
Mar 8, 2015 | $8.52 | Mar 1, 2015 | $0.11 |
Mar 8, 2015 | $8.40 |
Ask Charles a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.