Wilson Kitsao

Mtwapa, Kenya

18% repaid

Entrepreneur

Name

Wilson Kitsao

Member since

January 2013

On-time repayments

11 installments  •  0%

About Me

My name is wilson kitsao, a resident and a businessman in mtwapa town. Am a family man too, with a wife and four children. Born and raised in Malanga, in Malindi district, the most rural area in that region. Am a primary school dropout while a was in class seven.After dropping out of school, i tried a few jobs without much success, this is due to underpay considering the way of life.For this reason i decided to venture into business, which has been the best alternative to my family needs. I first started with a small business, selling mangoes. this was a good business but seasonal. A friend of mine once introduced to his charcoal business, i was very happy to see how he was doing his business. I decided to start my own too. At first this business looked hard to me, i did not have customers, it reached a time i wanted to quit this business. But eventually things became good and i started to smile. Currently i hve customers beyond my supplies. I must say that this is a good business, because i can now look after my family well and am in a process to open a branch in a different town.With my earnings i buy food for my family, pay school fees for my children and also save for expansion of my business.

My Business

My business is charcoal and firewood business, these are products used mainly for cooking. In mtwapa and even other places, people use charcoal, and firewood more than kerosine and gas. this is mainly because of the higher prices in those products.Charcoal and firewood are cheap compared to charcoal and firewood.with this reason we have been doing very good in terms of business. Am a supplier of this product and i have so many customers whom i supply. I get my charcoal and firewood from the forests in the rural areas,and bring them tom town. This has been a good business as its gives me all my family requirements. In a good month i get an income of ksh 30,000 after all my expenses.Its a good business but has risks too. these are like, going to the forest for the products, the journey is long and risky as the road is in the forest and there are dangerous wild animals, so when the vehicle breaks down its dangerous. second when it rains heavily the charcoal cant be processed so at such times i experience a low profit. With my revenue i buy food for my family, pay rent, pay school fees and also expand my business. I use ksh 5,000 to buy food and other family needs, ksh 2,000 goes to school fees, ksh 3,000 is used to pay rent at the chrcoal and firewood store,ksh 2,000 is used to pay for my residential house and i send ksh5,000 to my parents at home. so i save ksh 13,000 per month, which i can usec to pay for my zidisha loan. Am aiming to expand my business further, and that's the reason i want zidisha to help me improve and fulfill my deams.

Loan Proposal

Am so happy that my application has been approved.Thanks to all who made this possible Am a charcoal dealer, doing this business in mtwapa and the surrounding area. I do this business in whole sale and retail price . with this business i need to have enough supply of the commodities. So with this loan i need to add more stock of charcoal and firewood.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$497.32

Date disbursed

Jan 14, 2013

Repayment status

Late

Projected term

12 months

Cost to entrepreneur

Lender interest: $497.32 at 9.88% annual rate over 12 months = $49.82

Service fee: $17.80

Lenders

E

Errol

Bradenton, FL, United States

J

Jason

New Jersey, United States

Ron

United States

EricDWalters

Rochester, Mn, Usa, United States

F

Fredrik

Gothenburg, Sweden

D

dancesflo

sao carlos, Brazil

L

lucnz

Auckland, New Zealand

T

ToddK

Indianapolis, IN, USA, United States

keagan

Saskatoon, Canada

Infinityrush

Toronto, Canada

J

Jazzie

Oklahoma City, United States

russell

leicester, United Kingdom

M

missjoyy

Munich, Germany

L

ldworld

Idaho, United States

Creole1

Mobile, Alabama, United States

B

bgj21

Cambridge, United Kingdom

A

Andersson

Sölvesborg, Sweden

K

kjgeenszins

groningen, Netherlands

juliemartha

Lake Mary, United States

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