Francis Mwangi

Nakuru, Kenya

7% repaid

Entrepreneur

Name

Francis Mwangi

Member since

October 2010

On-time repayments

128 installments  •  18%

About Me

My name is francis Nganga mwangi, I am a Kenyan aged 43 years, I am married and working on semi-permanent basis at Mugaa secondary school .

My Business

I own a business where I supplement my earnings to cater for my family, from it I have been able to meet my family needs. To pay fees for my 1st daughter who is in the university and two daughters in the secondary school. And to do some farming.
My business operate at a capital margin of about Kshs 10000 where am able to buy 3-4 sheep from market and slaughter them in three days. The rate of consumption is high but my capital is not able to service it for a week. With a stock of ten sheep I will be able to enlarge my business to serve more customers thus making a higher profit.
I am now requesting zidisha to loan me 30,000 at an interest rate of 5%, grace period of 12 month, credit period of one year. With this loan I will be able to boost my business to serve more customers thus making a higher profit to be able to meet my family needs and repay the loan

Loan Proposal

I want to register my appreciation for supporting me add my family in our business. So far so good. We want to continue our relationship with you. My business is doing well especially because people are selling their livestock to take their kids back to school. I have plans to expand my business by putting up an extension to the back where i may service customers cooked meat. In Kenya, and even here, roasted meat popularly known as ' nyama choma' is a delicacy that would bring in more customers in to my business. This project/ extension to the back side of my business would entail buying timber, iron sheets, tables and chairs all at a cost of ksh 110000. I have already bought iron sheets. The amount i have applied for would be enough for other costs. The same amount would help me to cement the the floor. That loan would be spend as follows ;
1) Timber ksh 20000.
2) sand ksh 2500
3) cement ksh 4500
4) tables ksh 20000
5) chairs ksh 15000
6) labour ksh 10000
I will also require to add stock of goats and sheep awaiting to be slaughtered at a cost of sh 15000 at about sh 3200 per sheep or goat. The remaining sh 3000 would cater for locks, nails and any other associated expense. Serving plates and spoons will be provided by my wife from home. I feel that this is an idea whose time has come for it in my business and would wish to give it the best short. Your support and that of my family remains vital. Am expecting to be earning an extra sh 7000-10000 per month.
Be blessed as you bid to to uplift my business, myself and my family.
yours,
Francis mwangi.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,058.33

Date disbursed

Jan 31, 2014

Repayment status

Late

Projected term

22 months

Cost to entrepreneur

Lender interest: $1,058.33 at 2.17% annual rate over 22 months = $42.40

Service fee: $68.96

Lenders

A

Anninymouse

Southampton, United Kingdom

K

Katpjotr

Sint-Maria-Oudenhove, Belgium

P

Philippe

Adliswil, Switzerland

D

drjofleming

UK, United Kingdom

Kjartan

Oslo, Norway

A

anonymus

Moon, United States

Zidisha

Sterling, United States

D

dterryn

Brussels, Belgium

B

blahblah

Nuernberg, Germany

B

Bavarian

Bavaria, Germany

Erica

Caledon, Canada

kickerofelves

Sao Paulo, Brazil

ads68

Melbourne, Australia

K

kingcamo1095

Mountain Home, United States

Sarasota

Sarasota, Fl, United States

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