Help me grow my grocery business

Richard Siafwa

Simunchembu, Zambia

100% repaid

Entrepreneur

Name

Richard Siafwa

Member since

October 2015

On-time repayments

165 installments  •  81%

About Me

I am Richard Siafwa. I am 52 years old. I have eight children. One has finished school but is lacking sponsorship. The other seven have not finished; they are just at home. Five are married. The other three are not yet married. One of these has finished school, and the other is in grade seven. I'm running a shop, but I would like to improve orders of my shop so that I can earn a better livelihood.
I was working for Zambia Railways in 2000, then with the money I got, I decided to start a shop because the wages were too low. I started the shop in 2003, and the shop is currently is open on daily basis. However, I am incapable to sell some products in the shop because I have lack of funds.

My Business

I sell drinks, cooking oil, salt, biscuits, soap, fabric, and other groceries. People use these things on a daily basis. I chose to have a shop because it is the fastest way to make money.
In a week, I may spend 1,000 kwacha. Once I sell those things, I will make about 200 extra.
I spend money on sending my children to school, farming, and buying more groceries to sell.

Loan Proposal

when i get the loan i will use the money to buy more stock for my shop.I will use $150 to buy a 100kg bag of rice.from this i will make a profit of $100.Then i will use $100 to order paint.il order 10*20 litres of paint.i sell a 20 litre of paint at $25 so il make $250 dollars.The rest of the money i will buy groceries for my shop

Feedback

4

None

None

  • Margaret    Dec 29, 2018

    The loan was paid back in a timely manner!

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  • Mary    Oct 12, 2017

    Richard is an excellent borrower. I would recommend loaning to him for any future loans.

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  • Margaret    Oct 12, 2017

    Richard paid off his loan perfectly, I would gladly lend to him again and encourage others to do the same.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$694.62

Date disbursed

Oct 20, 2017

Repayment status

On Time

Projected term

10 months

Cost to entrepreneur

Service fee: $19.28

Lenders

W

Witlof

Tsukuba, Japan

ads68

Melbourne, Australia

Bobrm2k3

Charleston, United States

PG

Paul Graham

United States

Stephan W

Witten, Germany

M

Margaret

United States

Paul Buchheit

Mountain View, United States

A

Anonymous

United States

Daveycee

The Hague, Netherlands

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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