Business loan for a mechanic's workshop

Gibson Simuchile

Kitwe, Zambia

100% repaid

Entrepreneur

Name

Gibson Simuchile

Location

Kitwe, Zambia

On-time repayments

5 weekly installments  •  100%

About Me

I am Zambia young man aged 32 based in kitwe am married with 1 child, I own mechanics work shop , mobile money booth and recently started fish business,my dream is to open big butchery so that my finances are balanced, so far my work shop is going very well tho am having space problem for now I can't manage to rent a big spaces

My Business

I run a mechanics shops in kitwe and mobile money transfering booth for Airtel I also started fish business after seeing how food business pays out well, so far my business is going well am able to pay two guys I work with and rent my small work shop, with the help of Zidisha I pray this year I will be move to a big work shop. Mobile banking is not much profitable looking at the location and the demand, but we will are still pushing and we are able to make k700 communication per month I ventured in 3 different types of business to make ma finances balanced so that am not inconvenienced wen I don't have customers in my work shop am able to make money thru fish since pipo eat every day and I insure the money for the mobile not touched that well am able to pay bills with out worrying

Loan Proposal

I will use it to put on my new business mobile money business

Income Source

Side hustle

Feedback

None

None

None

Lenders

Babbitt Family Foundation

Sioux Falls, SD,  United States

Loan Info

Disbursed amount

$19.90

Date disbursed

Mar 30, 2021

Repayment status

On Time

Projected term

1 week

Cost to entrepreneur

Service fee: 5% of $19.90 = $0.95

Credit risk payment: $2.45

Optional expediting fee: $2.86

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