Lender Interest: $971.00 at 0.91% annual rate over 18 months = $13.25
Service Fee: $971.00 at 5% annual rate over 18 months = $72.82
Total Loan Cost:
$13.25 + $72.82 = $86.08
Sammy may withdraw the Members Loan Fund deposit at any time, as long as all outstanding loan amounts are repaid to lenders.
These costs are only paid once and entitle Sammy to raise an unlimited number of loans at zero interest.
MY names are Sammy Kanja Nganga born in kandutura village, Rongai division, Rongai district,in 1976. I am married to one legal wife according to the traditional Agikuyu customs. I'm blessed with four kids, 3 boys and a girl.The girl is the apple of my heart. I started schooling in 1982, in a remote primary school called Kandutura primary school . After I dropped out of school because of lack of fees , I started a business to earn a living and support my family.
I provide some services using a donkey pulling cart, my cart is pulled by three donkeys . I offer transportation to people and goods from the farm to the market and from the market to the farms. Most people prefer the services I provide, as a pulling cart can be used in different conditions of roads where vehicles cannot pass.The business is profitable as it only requires one to feed the animal well most oftenly. Risks include tire punchers, and death of donkeys due to pest and diseases attacks and changes in weather. In a month I usually use approximately of four thousand Kenya shilling to maintain a pooling cart and the donkey. I normally deworm the donkeys regularly and to buy some feeds additives to supplement their daily feeds. After providing the services and maintaining the pooling cart I normally get a profit of sh.10,000 that is the total earning 14,000 sh (minus4,000 expenses) in order to get the above profit.
I’m normally situated in a place called Waka centre where most farmers and business men and women who come for the service .On average I charge about kenya shillings 500 on any customer who hire my cart to transport his goods to his place of destination .At times I charge about 1000 shillings if the goods have to be taken for a distance that is greater than 8 kilometres .If given a loan, I can buy new tubes and tyres for the wheels and buy much more feeds to keep my animals strong and healthy.
I would like to buy 2 new donkey carts for sh 60000, 4 new tyres for sh5000 each totaling 20000.I desire as well to buy 4 donkeys each at sh 5000. I would like to dispose the old cart as soon as the bidding is over.I also desire to sell the donkeys and buy younger ones that are generally stronger and energetic.I aspire to get a kill with every thing being new as this is the peak of the harvesting season.I have managed to save sh 15000 THIS FAR DUE TO YOU LENDERS. THANKS.
Romgai, Nakuru, Kenya