Open a fast goods shop in my centre
Timan
My Village Of Residence Is Langas, Eldoret Town, Kenya
100% repaid
Entrepreneur
Name
Timan
Member since
February 2014
On-time repayments
315 installments • 7%
About Me
I am the third born and only boy in a family of four. My late parents left us when I was 9 and we have had to struggle to make ends meet. My two elder sisters got married in bid to escape our troubles, my younger sister is still in school pursuing her education. I am assisting my younger sister through her education and wish to start a shop business to help finance our upkeep alongside my Internet jobs. In addition, we support our elderly grandmother who has no stable source of income. I also intend to pursue my education further so as to achieve my life dream of becoming an accountant. With the assistance of Zidisha Loan, I believe I will be well placed to meet my family needs and gain economic stability.
My Business
My Zidisha Loan was very productive and helped me achieve a great milestone in my business growth. I have so far managed to settle a third of my sister’s school fees $188 (Kshs. 15,000) and she is currently in the process of registering for her examination. The business has also helped me take care of my aging grandmother despite many health challenges that she is currently experiencing. My shop business is progressing well despite the problem of price fluctuation of products in the market. I intend to expand the business by opening an MPESA shop to enable me increase the profits. (MPESA is a money transfer service offered by Safaricom, and allows subscribers to deposit and withdraw cash through their mobile phones). The cost of starting an MPESA business is approximately $590 (Equivalent to Kshs.50, 000). The advantage that I have with the MPESA business is that my shop has a wide space that can be used alongside the shop items; moreover, the location of my shop is strategic and close to the road hence will attract many customers. The MPESA business bring profit through deposits and withdrawals, in which case a deposit of $13 brings a profit of $0,0625 while withdrawal of $13 brings a profit of $0.125; Thus the higher the number of transactions, the greater the profits which are disbursed on monthly basis. I am therefore certain of repaying my Zidisha loan within the stipulated time. Kindly assist m, thanks.
Loan Proposal
With this loan, I intend to start a shop dealing with fast good items such as sugar, salt, cooking fats, bread, milk and sweets among others. Most of these items form basic part of consumer products that sell fast within the neighborhood. Consequently, the profits attached to these items are quick, for instance, buying bread at Sh.45 and selling at Sh.50. This translates to a profit of Sh.5 per bread. With a profit margin of Sh.5 and above for these basic commodities, I can be certain to maintain my weekly loan repayment schedule comfortably.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Feb 25, 2014
Repayment status
On Time
Projected term
9 months
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