Chairs and tables for our school

Benson Kapenda

Lusaka, Zambia

100% repaid

Entrepreneur

Name

Benson Kapenda

Location

Lusaka, Zambia

On-time repayments

48 weekly installments  •  31%

About Me

I am a dedicated trained teacher, business administrator, HR specialist and an entrepreneur.
I am married with one wife and four children; two girls and two boys.
I love to empower others economically and the sure way l thought of doing this is coming up with a business that within my expertise jurisdiction.
So, in 2012, l registered a school which is run as a private school in Lusaka. It is called Primetime Christian Academy.

My Business

My business is called Primetime Christian Academy. It runs from Kindergarten to Primary in the 6th grade. It is located within a compound of Matero North in Lusaka.
It has a population of 120 students ranging from 2 years to 12 years.
The business runs a one stream grade pattern.
The main thrust of the school is effective reading and writing among the learners, coupled with numeracy.
It is a fully registered business entity according to the laws of the Republic of Zambia in as far as Patent and Companies Registration Agency (PACRA) is concerned.

Loan Proposal

The last time l accessed K290 and repaid back K353, the money was used for furniture restocking in preparation for reopening in September this year.

Our target is to restock 50 chairs and 25 tables, specifically for kindergarten learners. So far we have bought 5 of them.

We have forecast to also start buying double seated desks for the primary school learners in the near future.

With this loan coming our way, we shall increase the stock by at least 10 more chairs only. But we are so excited because we are recording success in that the little that is coming in is making progressive impact.

Income Source

Like it was in our first ask where received K290, we had to repay it even far much earlier because of the business model we are currently using.

Our virtual meetings with selected learners and their children are reached out three times a week. We charge them K150 per family. And we have 10 groups per week. This gives us K1500 income per week. We took time to explain to our clients that the charge should have been K200 but knocked off a K50 for their bundles during our virtual sessions. In fact this looks like a payback check for them and they excited about it. Of course, we experience limitations with some group members with internet network problem....depending on the area people live.

So, yes, this is enough cash outlay to enable us make our repayments with ease.

Feedback

None

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$51.19

Date disbursed

Jul 7, 2020

Repayment status

On Time

Projected term

2 weeks

Cost to entrepreneur

Service fee: $3.82

Credit risk payment: $2.29

Lenders

Babbitt Family Foundation

Sioux Falls, SD, United States

LM

Logan Max

McKinleyville, California, United States

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  • Chama Lusaka    Sep 2, 2021

    Benson will soon pay back the loan next week

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  • Chama Lusaka    Aug 2, 2021

    Benson said that he will pay back the loan next week he was having issues

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  • Chama Lusaka    Jul 1, 2021

    My dear lenders
    I talked to Benson and he said that he wil pay back the loan on time soon.

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  • Benson Kapenda    Jun 27, 2021

    Limited or no cash flow at all

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  • Benson Kapenda    Jun 7, 2021

    Limited cash

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  • Benson Kapenda    May 24, 2021

    It will be easier to pay.

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  • Benson Kapenda    May 17, 2021

    The income from business took a new twist and disturbed the cash flow. The adjusted one will be easier for now.

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  • Jesper Kamuhuza    May 15, 2021

    Benson is going through financial challenges with his business. He has promised to work on repaying in the shortest time.

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  • Mpundu Mercy    Apr 21, 2021

    He said that he will pay next week

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  • Mogarn Mulenga    Mar 17, 2021

    I called him and he said that he will repay the loan soon

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  • Mogarn Mulenga    Mar 17, 2021

    He said that he he break of his work but very he will start repaying.

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  • Benson Kapenda    Mar 1, 2021

    Not yet stabilized financially

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  • Mogarn Mulenga    Feb 17, 2021

    I have talked to Benson and he said that he had a problem but he is promising to start repaying very soon.

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  • Benson Kapenda    Jan 25, 2021

    Business has been hard....schools are not yet reopened.

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  • Benson Kapenda    Dec 29, 2020

    This has been due to the unforeseen business pattern erratic cash flow.
    I will bounce back to the normal repayment pattern as before.

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  • Chiozya Mwanza    Dec 27, 2020

    Dear Lenders,

    I called Benson and he explained to me that he plans to make a repayment towards his loan soon. Thank you.

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  • Benson Kapenda    Nov 19, 2020

    This is because the collections from parents have slowed down but will be able to revert to the original pattern of repayment even sooner.

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  • Benson Kapenda    Nov 12, 2020

    I have received ZMW 9750

    I will buy building blocks

    Thank you for the loan

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  • Benson Kapenda    Nov 10, 2020

    *This money will be used to buy blocks and other building materials
    *This will help the school enrolment to go up, which means the income will increase.
    *Thank you very much lenders for the loan

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  • Benson Kapenda    Nov 4, 2020

    I have already paid the remaining ZMW 1571 equivalent to two installments. I was motivated to do so because of the attractive credit limit of over ZMW 15000 I have been awarded. I strongly feel this amount will help me reach near completion of my project.

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