Michael
Githurai Progressive, Kenya
11% repaid
Name
Michael
Member since
February 2014
On-time repayments
82 installments • 5%
Hi. My name is Michael Ngau,aged 28 years,the fourth borne in a family of one sister and three brothers. I live in an area which is rapidly growing in the business sector and the population growth experienced in the recent past has led to a sudden need for supply of basic household commodities which encouraged me to start the small business i'm running.I am a trained accountant with basic accounting experience and knowledge having worked in a busy seed industry for the past one year and 2 months.
I started my small diaper business less than a month ago after i ended my probation period at my previous employers Kenya Highland Seed Company Limited in Nairobi. Seeing the population numbers had grown rapidly in the past two years, i noticed a great need for me to meet the demand for diapers as most of the new residents were youths between the age of 20 yrs and 32 yrs who most probably were starting new families or were in the process of raising young babies. After doing my profit calculations, i usually pay for the basic utilities such as electricity, water, rent for my one bed room apartment which i share with my family i.e mother and my newly recruited college brother. Zidisha is an encouragement to many people who may not be able to access small bank loans due the lack of resources to act as security for their loans. i wish zidisha could open local offices to facilitate this service to individuals who may not have technological known how to be able to receive the same services.
I Run a small diaper business in the heart of one of the fastest growing residential areas in the economic capital of our nation. With the small starting capital i had of about Ksh. 6000($75), i've been able to establish a strong customer base that has helped me stabilize the enterprise. There is great demand for my products for the diapers as most of the population in my business area is either youthful with one or two children in the family. Customers are fond of me since i am able to supply the goods to them right at their residential homes as i walk door to door and have a business line that they can call directly to and i deliver their orders as required. this makes it easier for them as they are saved the hustle of going for them directly at the local supermarkets. it is also cheaper for them as my price is slighty cheaper compared to other enterprises. This is profitable for me since i can get the products directly from the main suppliers and sell directly to my customers. The risks i face are customer preferences change from time to time but as long as i have the capital needed to acquire the different types of diapers available in the market, it would go along way to sort that challenge.My costs are basically transport to the industries and main suppliers and my revenues so far are quite good. But lack of enough stocks to meet the great demand for the diapers is a great hinderance to my growth and eventual success.
my main reason to seek loan from Zidisha is for my business to to grow in size.I intend to use all the monry i get to purchase extra stock to distribute to my growing customer base. since my operating expenses are minimal as i operate from my house And i distribute using my bicycle all the 150$ you lend to me i will add to what i have and increase my stock.thank you for lending to me.
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Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Feb 27, 2014
Repayment status
Late
Projected term
19 months
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