On-Time Repayments: 25% (20)
Lender Interest: $849.00 at 3.43% annual rate over 25 months = $60.67
Service Fee: $849.00 at 5% annual rate over 25 months = $88.44
Total Loan Cost:
$60.67 + $88.44 = $149.11
Stephen will also deposit $152.79 into the Zidisha Members Loan Fund as security for lenders against default. Stephen 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 Stephen to raise an unlimited number of loans at zero interest.
I am married with five children who are all schooling. I live in kiptangwanyi shopping centre where my business is situated. I reside in my own piece of land which is about one km from the centre. My plot number of my land is number 936. Kiptangwanyi shopping centre is about 43km from Nakuru. This is where my business that deals with woodwork is situated. I make goods such as tables, stools, cupboards, beds, sofa sets and other wood products.
My business entails a workshop that sells wood products. there is very high demand of these commodities as we supply them to neighbouring towns such as Nakuru, Njoro and Gilgil. The challenges that my business face are transport difficulties, high electricity costs, lack of raw materials.
I would like to buy two machines that will assist me a lot in the work that I do. The first machine that I would like to purchase is a less machine. This machine is used in rolling legs for tables and beds. The other machine that I would like to buy is bird machine. This is used for designing and making curves in timber. These two machines will enable me to improve the quality of the products that I make for my customers
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