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

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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: 10% of $51.19 = $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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Summary

Amount repaid

$51.19

Amount remaining

$0.00

Date repaid

Jul 24, 2020

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
Jul 17, 2020 $25.64 Jul 17, 2020 $25.64
Jul 24, 2020 $25.55 Jul 24, 2020 $25.55

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