Add more stock of phones and accessories

David

Embu, Kenya

62% repaid

Entrepreneur

Name

David

Member since

March 2014

On-time repayments

85 installments  •  13%

About Me

I'm an optimistic mature gentleman of a pleasant personality ,I'm a born again christian with a very strong conviction to Jesus Christs that He is lord I hold a Diploma in marketing and I'm Married with one Kid.I work and live in Embu whereby I have been working as a sales rep with Barclays Bank for the last two years.I also run two independent businesses ,A fast food Cafe and mobile Phone and accessories shop which has been running for over three years now.I manage both business with assistance of my wife .Both my businesses have already broken even and have been on upward trand in terms of income

My Business

As I said Earlier,I'm on a formal employment with Barclays Bank as a sales representative and hence with a monthly salary .I also run a fast food business in Embu town basically selling such goodies as Ice cream,Chips,Chicken,Sausages,Sodas among other things that are pleasing o the youth and General public.I make around 310 USD in a month from this business
My monthly expenses include
Houserent-40 USD
Electricity Bill-16 USD
Wages-40 USD
Stock -81 USD
Profit-135 USD
I also opened a mobile phone shop where I Sell new cheap phones and especially the internet enabled phones which are in very high demand to the youth and also phone accessories
My gross sales profit is around 326 USD
My expenses totals up to 212 USDs
Net profits of 114 USD.
All those are monthly incomes,With the kind of income I think it will be very Easy to pay any amount advanced to me without fail.

Loan Proposal

Hallo Lenders,
I recently opened a mobile phone and accessories shop within Embu town,The business has picked very well with streaming customers requesting new models of phones each day,The most popular has been the touch phones of which has been of great demand to the youth,
With the amount I intend to buy a few pieces of touch phones i.e three pieces at around 34USD,The three pieces will then total up to 102USD dollars.I will then sell each at 51 USD making a profit of around 51 USD with the remaining 34 USD I intend to buy mobile accessories worth the amount which includes a few pieces of headphones,Memory cards,Flashes and earphones.
From my approximation I will be making a profit of around 60 USD from the amount within most probably three weeks.With the sales and profit gained I plan to repay my installments dully and in full so that I can scale up the ladder of limit.
Kindly leaders support me on this,I will be very grateful.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$150.00

Date disbursed

Apr 13, 2014

Repayment status

Late

Projected term

20 months

Lenders

Silver

Steiermark, Austria

Y

Yevrahs

Dallas, Texas, United States

H

howard

Vence, France

Sarasota

Sarasota, Fl, United States

J

jackdupee

United States

Jehovah

United States

J

Jarecki

United States

M

MaggieYG

United States

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  • David    Aug 1, 2014

    Thank you Zidisha for helping and encouraging me when my business was not performing well.we did meet with Lisbeth in Embu,Kenya.She encouraged me a lot and felt presence of Zidisha team was there with me.i promised to improved my loan repayment record.The business returns has improved since the Embu county has started releasing funds for projects that had been stopped.thank you

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    • Lisbeth    Aug 14, 2014

      Hi David. That's great news that business is 'moving' again in Embu County. It also looks like you're well and truly on track with your loan repayments again. Thanks again for your time when I was in Embu. Lisbeth

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  • Lisbeth    Jul 28, 2014

    I briefly met with David when I was in Embu a fortnight ago as he kindly took some time away from his banking job to have a quick chat with me and update me on his businesses as follows:
    * Following the theft at his phone shop David eventually decided to close the shop and he sold his remaining stock.
    * David’s hotel (restaurant) has suffered a bit of a short term lull in business due to the winter weather but he expects this will pick up again soon.
    * The adjacent bar is doing well, especially with so many people going out to watch the World Cup football matches, but he’s hoping things will soon improve further as he has applied for a licence for extended operating hours.
    David clearly has a good business mind and we spoke about some of the economic issues in Embu County that are affecting all businesses, including David’s, and the ideas he has to overcome these issues.
    He’s very committed to repaying his current loan and working with Zidisha in the future so we also spoke about the importance of keeping lenders informing during both good and difficult times and rescheduling his loan if he has any further setbacks.
    Most importantly, David, his wife and their young son are all well.
    ***
    Lisbeth Overheu, Kenya Client Relationship Volunteer

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  • David    Jul 21, 2014

    Hallo Team Zidisha
    i wish to reschedule my loan repayment due to financial loss suffered in the business for the past one month.i promise to come back the 100% on my loan repayment as soon as the business stabilizes.have decided to concentrate more on the hotel and bar at the moment to boost my sales and ensure business is as usual.thank you

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  • Tobias    Jun 30, 2014

    I have talked to David and he has confirmed that he will clear his arrears by the close of the day before rescheduling his loan,

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  • David    May 29, 2014

    hi Tobias i have rescheduled my loan as advised due to the problem that had occurred in the business.thanks

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  • David    May 29, 2014

    Hallo Team
    i am requesting to reduce my loan repayment amount to kshs500 from kshs1432 since my business have been affected for last two weeks by insecurity.There was a burglary in several businesses within the market i operate.i lost mobile phones and accessories that were the operating stock.matters have been resolved and following up with the security.to ensure that my business will be affected like that again.Have insured the business against burglary and taken caution never to put all my stock in the same operating market.sorry for inconveniences an delay caused.
    thank you

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  • Tobias    May 28, 2014

    Hi David you are behind with your payments, in case you have a problem it will be advisable to reschedule your loan. Otherwise I am hoping to hear from you soon. Thanks

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  • David    May 14, 2014

    The business is operating well and thank Tobias my mentor for giving support.thanks

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  • Tobias    May 13, 2014

    Thanks for honoring your promise, thus the spirit. Thanks!

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  • David    Apr 24, 2014

    thank you Tobias for clarification and team zidisha assisting my business grow.The business is doing fine and more sales were experienced during Easter holiday.The loan did boost stock and brought new clients.i appreciate a lot.thank you

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  • Tobias    Apr 23, 2014

    David has made his payment and sent me a confirmation text EY54CY865 Confirmed Ksh 1,500 sent to Zidisha Inc for account 0725363499 on 21/4/14 at 9.21 PM. Please can the support team update or clarify on this.

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  • David    Apr 23, 2014

    hi
    i did repay KES 1500 on 21st April as supposed and got a reply from zidisha inc.

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  • Tobias    Apr 22, 2014

    Hi,

    David let me know if you have already paid your 1st installments and it is not captured in the system. The records indicates that you are in arrears of $17. Thanks

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  • David    Apr 4, 2014

    thank you zidisha for giving me this business opportunity and continue inviting lenders to support me to raise the loan.thank you

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  • David    Apr 3, 2014

    thank you lenders for welcoming and assisting me to start raise some amount Howard and Jackdupee,Thank you so much,I wish to welcome other prospective lenders to support my cause..... .

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  • David    Mar 31, 2014

    Thank you Zidisha for the chance for me to raise a loan,I hope lenders will support me on this.My promise is I will be prompt in my repayments and mentor the young and those who don't know about zidisha.

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