Buy new fridge to sell beverages in home goods store

Peter Moinugu

Eldoret, Kenya

Funds disbursed

$0 to go

100% funded of $100 goal

0

days left

Entrepreneur

Name

Peter Moinugu

Member since

March 2015

On-time repayments

7 installments  •  0%

About Me

my name is peter moinugu.I cleared technical training institute on june last year.I am 24 yrs old.I come from a humble background of a family of 4,2 brothers and 2 sisters of which am the eldest.My mum is a primary school teacher whereas my dad is a motorcycle repairer.we have been facing financial constraints because of my parents low income thus it could not sufficiently cater for our fees and other needs.I thus decided to start a shop business at eldoret town on november last year.I borrowed ksh 20,000 from my uncle ,added it up with my savings and stocked my shop with soft drinks,water,utensils and stationary.It has been running quite smoothly for 3 months now and i foresee it prospering.

My Business

my shop is called FAITH SHOP.It is located at action centre just opposite chepkoilel stage.I sell product including water,stationary,utensils and perishables.A month ago i started selling eggs too.In a month i make profits ranging from ksh12,000 to 15,000 depending on the season.My shop enjoys the priviledges of demand because it is not only centrally located at the heart of the stage where i have passengers-customers,but also i give goods on credit at times to hotels.I often face minor challenges like expansion of my shop and also hiking of rent since the stage is expanding quite rapidly.The profit i get i use a fraction of it to restock my supplies,help with home basic needs and also pay some of my siblings fees,the rest i save.My main challlenge currently is that i lack a fridge and thus i lose many customers in the soft drinks sector because they naturally prefer cold to warm drinks.I therefore kindly request zidisha to help fund me and i add up with my savings and buy a brand new fridge.Iwill really be grateful since the loan will not only help me raise my living standards but also give me a chance to help my neighbours,family and friends.

Loan Proposal

If given the loan,ill add it up with my savings of 120 dollars and buy a new fridge.currently my business is doing well except on the sale of soft drinks .Buying a fridge will greatly boost the sale of beverages and water since most customers prefer cold to warm drinks.This willgreatly boost my monthly sale of drinks and in so doing improve my business quite largely and i estimate the crate of soda bought in week will increse from four to nine and thus an increse in profit from ksh1500 to 3200 on the sale of soda only.I also expect the sale of bottled-water to increase in the same ratio.Thus i humbly ask zidisha for assistance to buy he fridge for i know it will give me a platform of not only raising my living standards but also of helping my friends and family financially.

Feedback

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.13

Date disbursed

Apr 15, 2015

Repayment status

Late

Projected term

7 weeks

Cost to entrepreneur

Service fee: $3.94

Peter opted to pay $17.46 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

T

Tmann

Los Angeles, United States

A

Anninymouse

Southampton, United Kingdom

Sideburnjack

Conroe, TX, United States

D

Delph007

Den Haag, Netherlands

A

arenk

Karlsruhe, Germany

S

syklop

Lausanne, Switzerland

carlos vendrell

Barcelona, Spain, Philippines

Kitty

Hailsham, United Kingdom

DuAel

Orvault, France

cyrus0302

San Francisco, United States

D

Davieboy

Melbourne, Australia

J

JBosshardt

Redmond, United States

M

m_dennis

Toronto, Canada

V

viperaus

Melbourne, Australia

B

beowulf911

Yarmouth, Canada

C

ChrisID

Vancouver, Canada

E

evanglend

Arlington, United States

J

JakeA

Wellington, New Zealand

rodcul

Altea, Spain

P

PeaceandLove

Morro Bay, United States

E

ericcamden

Berkeley, United States

F

FCPLending

brooklyn, United States

J

JaMinLu

Concord, United States

H

Halli

Bottrop, Germany

S

Stijn

Hasselt, Belgium

J

jdhowa2

Louisville, KY, United States

EmilAsker

Lomma, Sweden

B

bhalter

Eau Claire, United States

ProfStick

Grassy Head, Australia

J

Jaslogic

Castle Rock, United States

rasmus

Bern, Switzerland

T

toscoman

Adliswil, Switzerland

element

Trondheim, Norway

P

planespotter

Berlin, Germany

lorello

Vicopisano, Italy

B

Bully

Konstanz, Germany

braccino

Settimo Milanese MI, Italy

B

BClay

Campbell, United States

X

xaphoon

angouleme, France

ads68

Melbourne, Australia

Christopher

Copenhagen, Denmark

P

Patrick5678

Beijing, China

ryanissamson

Philadelphia, United States

skullyjo

Winnipeg, Canada

C

caseygoff

George Town, Cayman Islands

Grant Xavier Storer

Seattle, Wa, United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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