Martin

Nairobi, Githunguri Utawala Jet View, Kenya

100% repaid

Entrepreneur

Name

Martin

Member since

March 2012

On-time repayments

29 installments  •  38%

About Me

I am 24 years old and a single man. I finished my secondary school education in the year 2009 and started my small business in the year 2010 (with as little Ksh 6000) so that I may support my young brothers and sister to get good education,improve my financial status and also further my education In future.

My Business

I run a retail shop where I deal with varieties such as detergents, Cooking oil, maize flour, wheat flour, cereals, Sweets, biscuits, books, pencils, snacks, soft drinks. From this business I make profit of Ksh 200000 per year. I also offer transport services by my Donkeys where I make Ksh 200 daily on each. My expenses include house rent of Ksh 5000 per month, Electricity Ksh 2000 per month, water Ksh 500 and transport of Ksh 4000.Challenges of my business are price inflation and inaccessibility of some commodities cost.

Loan Proposal

I will use the loan to increase the stock of my shop, buying more product to satisfy my customers needs, also introduce new product such as all varieties of soft drinks, margarine and all sizes of cooking fats. My current capital of the shop is ksh 50000 and this loan will increase it to Ksh 100000 which i will make more profits

Feedback

6

None

1



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Loan Info

Project Type

Classic Loan

Disbursed amount

$613.00

Date disbursed

Apr 1, 2012

Repayment status

On Time

Projected term

12 months

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Ask Martin a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Paul    Dec 3, 2014

    Dear Lenders,
    I am trying to contact Martin and I will get back to you with regards to his loan repayment. I wil keep you posted.

    Paul,
    VM

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  • Sverre    Feb 8, 2014

    Are you not able to start repaying soething each month?

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  • Kitty    Oct 5, 2013

    I also salute your honesty and hard work and wish your efforts to have success

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  • Martin    Oct 5, 2013

    I have decided to reschedule my repayment date because of the challenge i am facing as i shared with you last time as the alternative source which i had relied on, have also gone astray as i have just given in details in my comments below.
    I therefore believe the additional time will enable me to rearrange myself and be able to settle my loan.

    I deeply regret the move and in future,this will be a thing of past.

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    • Sverre    Oct 5, 2013

      I must salute you for having the courage to tell about your problems and its a good thing that its possible when needed to reschedulee loans on Zidisha. Keep up Your courage and your hard work, and you will find that lenders will not support only this loan, but also the next one! We whish you all the best!

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    • Sverre    Oct 5, 2013

      I must salute you for having the courage to tell about your problems and its a good thing that its possible when needed to reschedulee loans on Zidisha. Keep up Your courage and your hard work, and you will find that lenders will not support only this loan, but also the next one! We whish you all the best!

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    • beverly    Oct 5, 2013

      Hi Martin,

      I also deeply appreciate your honesty in sharing your situation with us lenders. We like reading updates, whether good news or bad news. We lend our money in good faith that borrowers to do their best with the circumstances that they have, because we know that business is not easy!

      You have the right attitude for success, seeing this as a challenge and not an intractable problem and I want to send you my support, encouragement and best wishes as you work through this difficult situation.

      Sincerely,
      Beverly

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  • Martin    Oct 5, 2013

    Dear lenders,
    I thank God for the far He has brought us,wishing that everyone of you is doing well.It is time since we shared with you and i decided to have it today.I always feel guilty to share my downs with you after you did a commendable work to fund me the way you did.
    Soon after i shared with you last,my motorbike developed some little engine problem though it could hardly work.I therefore decided to see rectifier to avoid furtherance of the problem,only to realize he was not a qualified one after it was too late.As i am sharing my motorbike is lying in my room waiting for a new engine which will cost me at least Ksh42000.
    I am of that courage and i believe this will not be my blockage in success.

    Since that time, i have not been able to settle my installment since my new small business cannot cater for this for the time being because even it cannot pay its rent.I therefore decided to look for a solution and i am now working by another person's bike at night in order to raise some significant money to see it through.I am also looking another alternative to raise this money even if it means to get some loan locally to settle your loan.This is because some little money i am getting in my fast food business and that of motorbike at night cannot cater for these needs.

    I am not begging for your sympathy as doing this will lower my pride to be a man of little faith and limited solutions and alternative.As a man who does not believe in himself.It is also contrary to our agreement and i believe in what i promise.
    All i want is you to understand what i am facing and ask you not to give up in me.I believe i will be able to settle my loan even before the time elapses as i demonstrated in my previous loan after facing some normal business challenges i had faced also.I believe i did not let you down in my previous and the first loan you lend me and this will not be my first time to do it.

    If had power and capability,i would not have let this occur and i will try the best i can to a shame the devil and his work.

    I deeply regret to share this with you as it goes contrary to your expectations though i do not take it as a problem but as a challenge which will have a solution as soon as possible.
    My wish is to settle my loan soon so as you could assist me with more in order to resume in my financial position,if at all you have understood me.

    My God be with you every time and bless you all.

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  • Martin    Jul 7, 2013

    Hi my friend members,
    I wish to thank everyone for your support and goodwill.I have been silent for a long time but today i decided to break this with some little good news.Ever since i commented last,i've been undergoing a very stressful challenge as i informed you previously.I had told you of how i opened a butchery and i regret to inform you that i have recently decided to do away with it.This is after costing me more than Ksh134000,approximately two and a half times the amount you offered me.I decided to start a new business in selling chicken and fish with the little money i had ,and am proud to tell that it is doing well under little cost.I now wish to break your suspense because after all am not a failure,it's just a slide in time of life.Furthermore,am still operating by my motorbyke and i believe i will manage to refund your loan and get more of your offer.Thank you a lot and nice time.

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    • beverly    Jul 7, 2013

      Hi Martin,

      Thanks for the update. It is good to hear that your fish and chicken business is doing well. It was definitely a very brave thing to do to take that leap of faith and start a whole new business! We are here with you through the good and the bad times because we know you are working hard all the time. :)

      Best wishes for your continued success and happiness,
      Beverly

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  • Martin    Jun 2, 2013

    Hi zidisha fraternity,
    I wish to reschedule my loan to have more time to prepare well and set my business to cater for this loan.As usual,one must have several selective options before you decide and stand by one of them.When i received your money i decided to invest in butchery including chicken and fish.But as most of new businesses have difficulties before you win your own customers,the same happened to me.The worse about this is that all these are perishable goods,thus take very little time to rot.And this has been my very challenging situation all through.But right now i have some hope since am winning some customers and therefore believe am gonna make it to the end.
    I greatly regret this and hope you will understand and i promise that it will not compromise my repayment once again.
    Best wishes to all.

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  • Namaste250    May 31, 2013

    Hello Martin,
    Time had flown. It seems like just yesterday you were asking for lenders and already your first payment time is here. It is good to hear that the motorcycle has improved your business. I think we must all try to keep up with the modern world. If you are able to go back to school, what would you like to study?
    Best regards,
    Ann (namaste250)

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  • Martin    Mar 18, 2013

    I wish to extend my gratitude to everyone who contributed funds and every kind and level of support towards this far i am.I am now happy that the loan is fully funded and so believe to accomplish my mission.I will be informing you on the progress i make through regular communication.Thank you.

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    • Namaste250    Mar 22, 2013

      Hello Martin, I am looking forward to hearing many more success stories. You have become a businessman. Ann

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    • Namaste250    Mar 22, 2013

      Hello Martin, I am looking forward to hearing many more success stories. You have become a businessman. Ann

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  • Namaste250    Mar 16, 2013

    Hello Martin,
    Be careful riding your new motorcycle. Traffic can be so bad. I am relieved to see the calm after the election. Congratulations on your continued expansion. Best wishes for health, success and prosperity. Ann

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  • Martin    Mar 14, 2013

    Hi Zidisha team,
    Am glad to see your quick response to my second loan application.I wish to express much gratitude to those who have contributed so far.I also believe there is a large number of those willing to contribute and i welcome this and highly appreciate it.Feel welcome to contribute.Thanks.

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  • Martin    Mar 9, 2013

    Hi Zidisha Team,
    It has been a little bit long since we had some communication,but i wish to assure you of the good but challenging moment i have had.I have been facing some serious challenges in relation to business such as price flunctuation,scarcity in commodities and transport problems among many others.All these sound common to all businesses worldwide, but were catalised mostly by the already finished elections preparations.This had installed some tension in the society which obviously effects the business at the end of day,considering the the dark dawn that followed our previous general election elections in year 2007.The light-side of this is that i have been able to deal with all these ,because i don`t take them as problems but as my strength and knowledge to deal with them in future.Otherwise i have been able to achieve a lot.I managed to buy a brand new motorbyke which cost Ksh70000;I use it to supply wholesale price goods.I was also be able to start a wholesale price small-scale businesses.I have also been able to access goods much more than before.Last but not least,i managed to expand my shop to accommodate all.All these have enabled me to clear my loan from you even before the scheduled period,that up to 01/04/013 .I therefore wish to extend my gratitude to everyone who contributed towards this progress and success and i wish you will be willing to contribute your funds in another application i am looking forward to post soon.I wish you the best as we keep in touch through regular communication.

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  • Martin    Jul 31, 2012

    Hi Zidisha team,
    It is long ever since we had communication but i wish to break down your suspense of my whereabout.I have been good and doing well in my business and i am glad to tell you i am almost landing on my target.I have stocked my shop well enough to attract customer's attention and in fact i have more customers than before due to access to more goods.I am now planning to buy a new motorbike in two weeks time to start wholesale price goods and services.I will be informing you on the same soon.Have a nice moment.

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  • Martin    Mar 17, 2012

    Hi Zidisha team,
    It is long ever since we had communication but i wish to break down your suspense of my whereabout.I have been good and doing well in my business and i am glad to tell you i am almost landing on my target.I have stocked my shop well enough to attract customer's attention and in fact i have more customers than before due to access to more goods.I am now planning to buy a new motorbike in two weeks time to start wholesale price goods and services.I will be informing you on the same soon.Have a nice moment.

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