Additional capital for mobile money business

Francis Daka

Lusaka,zambia, Zambia

Loan disbursed

$0 to go

100% lent of $368 goal

0

days left

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Entrepreneur

Name

Francis Daka

Location

Lusaka,zambia, Zambia

On-time repayments

78 weekly installments  •  72%

About Me

My name is Francis Daka, based in Lusaka Zambia. My business model is mobile money which I have been running for the last eight years now. I have acute mobile money business understanding due to several years of business experience.
I have been an active Zidisha community member from 2015 to-date. Due to favourable loan terms and conditions for Zidisha, I commenced loan acquisition from this platform to-date.
Zidisha has greatly, helped me expand my business at a faster rate.

My Business

The Mobile Money business is operating well and it has starting picking up. The venue where the business undertaken is operating is now known. Hopefully, by the end of December 2019, I will open another mobile money booth.

Loan Proposal

This loan will be used to expand my capital base in the business. I have been using K5000 as my capital but I will be using K 7000 as my capital until I reach K10000 as float.

Income Source

This business has less risk factor because all banks in Zambia are encouraging customers to be using fund transfer in order to lessen contact with physical cash. This has made this business more lucrative than before.
Both Airtel and MTN has scrapped fees on any transfer to encourage citizens to use mobile platforms.

Feedback

None

None

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Lenders

David Hopkins

United States

Paul Buchheit

Mountain View,  United States

Kevin

San Francisco,  United States

ShaneHeneghan

Galway, Ireland,  Belgium

lietu

Tallinn,  Estonia

M

Melkmom

United States

C

chrisherron

Chicago,  United States

M

Mårten

Inden,  Switzerland

C

cooltaj

Alexander,  United States

L

Leigh

Australia

E

Ed

Colombia

Show all

Loan Info

Disbursed amount

$364.16

Date disbursed

Mar 5, 2021

Repayment status

On Time

Projected term

2 months

Cost of loan

Service fee: 5% of $364.16 = $18.21

Credit risk payment: $61.88

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