Add stock to my two hardwares

Joseph

Dandora, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Joseph

Member since

February 2013

On-time repayments

302 installments • 83%

About Me

My names are Joseph Ngumi Nganga. I was born in Nakuru county at a place called Rongai. We have lived in Rongai with my family for many years until I relocated to Nairobi in Dandora estate in the year 1990. I am a father of four children who have all completed schooling. They have also gone to college and successfully completed their courses. I live in plot number E429, Dandora phase Five. I operate a hardware shop at the estate and this has been a business that I have operated for more than twenty years.

My Business

My business of a hardware shop I started in the year 1992. The business is located in Dandora estate and at a strategic place where customers can be able to get the services easily. The main items that I sell in the hardware shop are cement,iron sheets, nails, wheelbarrows, barbed wire, mesh wires, and many other stuffs involving building and construction. This is a good business here especially with the opening up of other areas which require building and construction materials. the main challenges that affect the business are fluctuating prices of these items that I sell which is usually affected by world prices of fuel.

Loan Proposal

I intend to add stock as follows.
1) Modern Roofing Sheets ( Plastic)
2) Modern Plastic Ceiling Sheets
3) Building Steel Bars
4) Flooring Ceramics
5) Timbers
6) Paints
7) Wall Master Making Materials, Like Marbales Etc
8) Decorating Slaps
The cost might be higher than the amount am applying but i have to add from my current sales

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,432.00

Date disbursed

Oct 8, 2017

Repayment status

On Time

Projected term

21 months

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Ask Joseph a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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Robinson Mar 11, 2020

Mercy Muthoni said she will try to get through to him and pass this message, on the overdue payments

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Edwin Feb 6, 2020

Hi. Joseph will maintain a small repayment amount that his business can manage at the moment but will raise it again when the business picks.

Thank you for your patience.

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Joseph Jan 14, 2020

The only main reason for reducing my current loan installment is that I have not yet recovered after the disbursement the less amount I was not expecting due to the deductions.
I had fully informed the lender during the time I applied the current loan what I had already done. I did some renovations to two of the running hardware shops waiting to add enough stock to them. But when the loan came almost all of the amount I was supposed to receive went into unexpected deductions. I had to go back to my drawing-board to start almost afresh for I had to close one of the hardware so as to be seen as if I had ran bankrupt.
This little am paying per week is only the amount I can afford for now until the business will pick.

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Edwin Jan 3, 2020

Hi

Joseph will restart his payments within this month.

Thank you.

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Edwin Nov 29, 2019

Hi

Joseph will be restarting payments shortly.

Thanks

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Joseph Oct 11, 2019

Because I have had hard time since I received the current loan due to the unexpected huge deductions I had already done some renovations to my two hardware preparing to receive the loan ,but when it happened so ;I started a rough journey by closing one of the hardware. So as to keep it running for it not look like as if the business had collapsed to keep the customers though not fully stocked as there before.
I hope business and loan payment will be as there before after I settle the matter with the zidisha authority regarding the unexpected deductions and my deposit.
Thank you

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Joseph Sep 7, 2019

Because I have had hard time since I received the current loan due to the unexpected huge deductions I had already done some renovations to my two hardwares preparing to receive the loan ,but when it happened so ;I started a rough journey by closing one of the hardwares. So as to keep it running for it not look like as if the business had collapsed to keep the customers though not fully stocked as there before.
I hope business $ loan payment will be as there before after I settle the matter with the zidisha authority regarding the unexpected deductions and my deposit.

Thankyou

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Joseph Jul 27, 2019

The loan deductions caught me unaware .It happened so when i had already made some costly renovations to my two Hardware businesses waiting to stock new items.
I had to reduce my loan installments untill i reverse my plan and ideas i intended after i will increase the loan installments paying

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Joseph May 4, 2019

Am forced to reduce the amount to that much until i sort out with the people concerned. I have full explanation why my current loan was deducted some nonrefundable amount why i was not informed about it. When my previous deposit of Kshs. 4,000 will be refunded; why i did not qualify for a bigger loan yet my paying rate was over the minimum rate 90%.
This deduction has caught me off-guard and therefore i have to adjust the whole plan i had for i had already finished the renovations to my both hardwares knowing that i was to receive a handsome loan.
I hope this adjustment will not last for more than that I have done things will change for no permanent nowadays.

God is with us.

Thank you.

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Joseph May 4, 2019

Prior to your reply of my complain of 21/04/2019; it hurts so much to hear that the Credit risk is not refundable for every new loan; for example the one i received on the same day was Kshs. 165,000; after all the deductions:

(i) Credit risk Kshs 49,000;

(ii) Interest fee Kshs. 8,900

(iii) Expedite Fee Kshs. 8,900

The money sent to me was Kshs. 99,000, now I ask why the Credit risk is not refundable and am supposed to repay the whole amount of Kshs. 165,000; tell me.

Okay go back to my loan repayment and disbursement; you will find that I paid that credit risk as deposit some years back incase i defaulted, but up to today I have no any loan arrears. What will happen to that amount i paid? I will want that money to be refunded for I had paid it before 16/12/2018 and no alert was given to me so that i could decide what to do next.

The above was about the Credit Risk amount. this now is to want to know why i was not offered the amount I was expecting of Kshs. 216,000 plus invitees bonus of Kshs. 6,000; why the pattern of qualifying a higher was changed all over sudden? Before we used to receive half of the previous loan as loan increment if one attained over 90% repayment rate. Mine was 95% , how come my current loan only increased by Kshs. 21,000?

I think justice did not prevail I hope also that you reconsider my complain so that my right of qualifying for Kshs. 216,000 be seen for the rate I reached was higher than the minimum needed.

Incase this comment has reached you and you do not deal or solve such issues, I kindly request you to give me the right direction or the office address which deals with these kind of complain so that I may know my way forward

Kindly waiting to hear from you.

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- Lotus Flower May 4, 2019
  
  Joseph,
  
  The lenders do not set the terms of any of the loans at Zidisha.
  The Staff (www.zidisha.org) does that.
  
  Please be aware that this is NOT the correct place to post complaints to the Staff or requests for help from the Staff.
  
  You need to click on the HELP link in your account... then, look for a subject option with a text-box available... then, type and send a private message to the Staff.
  
  Although the two (2) members of the Staff also are lenders, most lenders are NOT on the Staff and cannot help you with what you've written above. The Staff almost never visits borrower Discussion pages, so please click on the HELP link in your account to reach them.
  
  For more information, please *read*
  here: www.zidisha.org/loan/buying... [comment-660388]
  and here: www.zidisha.org/loan/busine... [comment-660503]
  
  Please also don't forget about the FAQs:
  www.zidisha.org/faq
  
  Thanks, and best wishes.
  
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- Lotus Flower May 4, 2019
  
  Joseph, please be aware that the credit-risk fee is not only in case *you* default on your loan. The credit-risk fee goes into a pool of funds, in case *any* borrower defaults. It works sort of like insurance. For example, when automobile-insurance premiums are paid, those premiums go into a pool of funds, and then anytime *anybody* has an accident, the claim gets paid from the pool of funds. If an individual doesn't have any accidents and never puts in a claim, that person doesn't get a refund of the premiums he or she paid into the pool of funds. The credit-risk payment is like that.
  
  I don't know how it's calculated. Only the Staff knows about that, and you are free to contact them anytime, via the HELP link in your account.
  
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Purity May 2, 2019

Dear Joseph, Trust you are well. Regarding your post to my inbox, I am rather surprised you chose to address to me, and especially asking me to re-consider the issues raised. I am one of the many Zidisha borrowers and I commented on your post in the BORROWERS' forum like I do sometimes on many others, but I cannot solve any of the issues you raised. I am not a Staff of Zidisha, not a VM or a Community Moderator. The issue of no refunds on Credit Risk (after 16.12.2018) was updated by the Director and it is available on the Announcements by Zidisha Staff; that is where I got the info. How they work out the loan qualifications and increments - I am completely not in the picture. Having said that; I can only request you raise the issue via the Help Button so it goes to the concerned Staff, I am sure they are in the best position to address your weighty concerns. All the Best to you

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Lotus Flower likes this.
- Lotus Flower May 2, 2019
  
  "How they work out the loan qualifications and increments - I am completely not in the picture." As far as I know, the only people here who ever have known those things are Julia and Rodrigo. Purity is correct, Joseph, you need to contact them via the HELP link in your account.
  
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Lotus Flower May 1, 2019

Joseph, regarding your post on this other page: www.zidisha.org/loan/finali... , please be aware of the following:

Lenders cannot help you with anything technical or administrative.
Therefore, borrower Discussion pages are not the correct place
to try to reach the Staff: www.zidisha.org/team

For more information, please read
here: www.zidisha.org/loan/buying... [comment-660388]
and here: www.zidisha.org/loan/busine... [comment-660503]

Please also don't forget about the FAQs:
www.zidisha.org/faq

Thanks, and best wishes.

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Joseph Apr 22, 2019

Am very thankful to my all lenders who are always read =y to help that is a God's send; you really do a good job.
i will buy new items to my both hardware shop. this time round will not be business as usual.
I have to repay the loan as scheduled for increment of my daily or weekly sales will improve.
I have sent my complaints to the Zidisha organization concerning the double deduction of the credit risk fee; I paid it more than three years back and i hope the amount will be re-disbursed back to me.

Thank you Lenders again

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Joseph Apr 22, 2019

Infact i have had other loans from this Zidisha before; I stated it with Kshs. 43,000 since the year 02/2013; my business has grown upwards due to the loans i receive from my lenders through Zidisha; although it has taken too long to achieve at least a bigger loan than the one am now applying for that happened during early times of borrowing caused by my previous mentor Francis Kiguru who did not want to disclose rules and conditions which Zidisha uses to consider bigger loans for his aim was to mint money from whenever i completed any loan. He was eager to tell me that it was better for me to complete the loans as quickly as possible. He used to tell me so and even other members who were being mentored by him. He used to collect atleast Kshs. 2,500 for every time i applied for a loan; to confirm the loan. He was used to collect atleast Kshs. 2,000; but he could not disclose to me that there existed rules and conditions during the repayment of the loans and that is when my chances of getting bigger loans worsened.
anyway thereafter i got full answers from Zidisha and my loan increment started; though i was somehow happy about it the pace its being calculated does not satisfy me because my payment rate is 95% over the 90% needed for better increment.
I still thank my lenders all the time for the work they do by helping the needy people like me to prosper. I cannot forget the Zidisha team who work tirelessly to conenct the borrowers & lenders.
Thank you so much you my lenders and Zidisha team. God bless you.
Last and not least i would like to request for a bigger loan this time, for the all this time of almost Seven years now i have never thought of defaulting. Kindly think of me.
Loans i have received before have played great improvement and am hoping this one or if it will be increased abit higher will do more than great improvement.

Thank you.

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Joseph Apr 6, 2019

The reason I still have for the adjustment is that am still going on with the renovation at my Business place so that when my next loan disbursement will be done.
I will have enough space, new look and attraction of new and my old customers and that will mean also more income which will enable me to complete the loan in a smooth clean way.

Thank you.

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Joseph Mar 9, 2019

The reason is that Am doing some renovation for am almost completing my current loan so when I receive the intended new loan; there will be enough space for the new items which will be somehow a surprise to my customers and others who will see how the business has new customers attraction and that is when my income will also increase so that I will be able to finish the loan quicker than the previous one.
Thank you.

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Joseph Feb 9, 2019

Things are not bad as before for I got relieved after the sick relative finished the period that the doctor had described. I will do my best to repay the loan as soon as possible so that i apply for another one.

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Joseph Jan 19, 2019

I humbly request you to hear me for being a regular customer of re-scheduling the loan repayment.
The only reason i have for now is the same i had the last time. One of my relative has not recovered as i had expected and i have to take care of that matter. I cannot also forget to service the remaining loan balance so that i can still be able to apply another one after i complete the current one.

Thank you lenders
Thank you Zidisha Team
God bless you all

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Joseph Dec 30, 2018

my sick relative has not recovered as i expected . so i have to reduce payment for the two are my responsibility ; good day
thank you

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Joseph Dec 15, 2018

I have not completed to pay attention to one of my family relative who is still in need of medical prescribed drugs therefore I kindly request my humble plea be heard; things will be as usual soon.
Thank you for your continued support.

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