Buying groundnuts for reselling in grocery store

David Banda

Lusaka, Zambia

100% repaid

Entrepreneur

Name

David Banda

Location

Lusaka, Zambia

On-time repayments

7 weekly installments  •  86%

About Me

My Name is David Banda I am a 21 year old Male of Lusaka. In the year 2016 my family got a very big tragedy as both of my parents perished in a fatal road traffic accident in Kapiri Mposhi. During that time I was doing my grade 10 at Kafue Boys secondary school. With no financial aid or insurance I was forced to drop out of school to vent for my younger siblings aged 12 and 8 respectively. Luckily my parents had a grocery store in Kapiri Mposhi where they resided and so my siblings and I had to relocate to Lusaka permanently with the aid of the saved income I was able to open a grocery store which has supported my siblings through primary school and secondary school. I am also attending night school as my dream is to finish my secondary school education

My Business

My business is a simple grocery store which stocks different kinds of groceries ranging from house hold food stuffs to house hold tools like brooms and mops. In my part time I also work as an electrician, I am able to fix broken appliances such as fridges and stoves. I plan on studying electrical engineering when God gives me the chance

Loan Proposal

Good day to you . I run a successful grocery store located in the heart of misisi compound in St Catherines road. With this loan i am applying for, i am going to buy groundnuts from city market and then roast them and prepackage them for sell in my shop. i sell dry snacks like crackers, scones and groundnuts as well as groceries in my store.

Income Source

I have never faced any downfall or reduction in sales in my store because misisi compound is a fast paced township with people always being on the move. The area is also very populated so i always have customers flooding my shop as early as 6 AM in the morning.

My Videos

Apr 21, 2021: My introduction to my grocery shop

Feedback

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Lenders

Hans van den Berg

Zaandam,  Netherlands

Henry

United States

Loan Info

Disbursed amount

$21.84

Date disbursed

Feb 23, 2021

Repayment status

On Time

Projected term

1 week

Cost of loan

Service fee: 5% of $21.84 = $1.08

Credit risk payment: $2.83

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