Michael

Kiptangwanyi, Kenya

100% repaid

Entrepreneur

Name

Michael

Member since

November 2011

On-time repayments

28 installments  •  21%

About Me

I am a businessman in Kiptangwanyi shopping centre. I am a tenant in plot number 54 house number 3. This is where I stay as well as having my business here.I am married with 3 children. One of the kids is in school and the other two are not schooling.I started the business of selling cereals in Kiptangwanyi shopping centre in the year 2005. The business picked well and there is a very high potential for this business in this area and I would like to increase my effort to tap all the opportunities that are available in this area.

My Business

My business entails the services of selling cereals and other dry grains. The business is situated in Kiptangwanyi shopping centre. This place is very good in terms of this type of business. The area is surrounded by many areas which are potentially productive in terms of agricultural products. There is also a very high demand for the products and this increases my customers. Being near Nakuru town which is a major town in Kenya, I am able to supply most of my products to many town dwellers in Nakuru town.The main challenges that my business encounters are transport problems especially during the rainy season because the area has very poor roads. Other challenges are high transport costs, drought and high electricity costs. Currently I am using my earnings to buy large quantities of cereals that I will be able to supply during the dry season next year.

Loan Proposal

I would like to expand my business by buying more cereals during this period of harvesting. There is plenty of the grains in nearby areas and therefore I can be able to get more. This cereals I will resell them later during the dry season. I would also like to improve my storage so that I can handle larger volumes than I currently handle.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$255.00

Date disbursed

Nov 24, 2011

Repayment status

On Time

Projected term

23 months

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  • Julia Kurnia    Nov 6, 2013

    Dear all,

    Mr. Waithaka had maintained a consistent record of on-time repayments during his first Zidisha loan, in 2011 and 2012. He unexpectedly stopped making payments for this, his second loan, this summer. We attempted unsuccessfully to reach Mr. Waithaka at his mobile number to find out what had happened and if he is all right.

    I spoke this morning with the community leader, a local school teacher, who had signed a recommendation letter in support of Mr. Waithaka's application to join Zidisha back in 2011. We had previously requested the community leader to help us get in touch with Mr. Waithaka, but it seems Mr. Waithaka's number is out of service and the community leader was unable to reach him. The community leader is going to try contacting Mr. Waithaka's wife to find out the family's situation.

    We'll post an update here as soon as there is further news. Best,

    Julia Kurnia
    Director, Zidisha

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  • Michael    Jul 2, 2013

    dear my lenders my butcher business is very active this season. i hope to start suppling meat to the nearby boarding school. the challenges are that to find the cow or goat to slaughter is very hard. i have started looking beef cattle to the nearby farm which belongs to lord delamear. in this farm the beef cows are many but expensive. this has made so many business persons to move out of this meat business. i hope to continue and move some steps a head.

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  • Michael    Jul 2, 2013

    dear my lenders am so greatful to zidisha platform for boosting my business this far.my business is doing so well that am planning to repay my loan this month and complete my repayments. this is because this season is the time when all farmers are harvesting their beans. am very ready to start the business of buying and then selling the beans.this business is very fruitful during this season one needs to have enough capital to buy and then sell to the lorries coming from the eastern part of our country.its my big hope that things will turn positive.on the other topic, my butcher business is doing so well. am planning to repay this amount and then borrow a bigger amount.

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  • Michael    Jun 5, 2013

    Dear lenders,
    I take this opportunity to reschedule my loan repayment and wish to be added some two more months. I have been having problem with my butchery as the place where I usually get livestock was affected by the heavy rains that rocked the country during the months of April. Since then things have been getting better slowly and I hope to resume fully to my repayment by the month of July.

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  • Michael    Mar 11, 2013

    dear my lenders. thanks so much for your patience, i have been late in my repayments.this has turned up due to the past election which was going on in our country. my business turned down on january but im recovering. i have decided to reschedule my loan in one month time, so that i can have enough time for preparation of making my repayments.im planning to make my past dues repayments in one weak time. thank so much my lenders for being patience . i wish you all the best. thanks so much and have a very nice moments

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  • Michael    Sep 26, 2012

    Dear Lenders,
    I am here again to request to reschedule my loan repayment. As I had explained earlier about my business having some difficulty, it is now that it has started picking and therefore would like to request some more time for it to stabilize once again. It is my sincere hope that I will be back on track again and proceed with my repayments without any difficulty.

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  • Ishaque    Aug 6, 2012

    Thanks for the update.

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  • Michael    Aug 6, 2012

    Dear lenders,
    I would like to reschedule my loan repayment because i have my business has been undergoing some difficulties. I have been having a shortage of cattle to slaughter because of heavy rainfall that is falling in areas where I get my supplies. I have not been able to access the area because of poor roads and this has really affected my business negatively.

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  • Michael    Apr 28, 2012

    hello lenders first of all is to thank you all who supported my loan bid to an end thank you very much indeed secondly i want to inform you that due to low demand of grains consumption in the area i decided to open another business of meat which is making very well currently and i hope that thing will go as i plan my GOD BLESS YOU ALL[WAITHAKA]

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  • Michael    Apr 13, 2012

    Hi Lenders.
    This isanother great opportunity I am taking to know how you are doing. My business is doing well. After I received the loan from Zidisha I started another business of butchery. This is because I received the loan around December and this is the time many people are at home for Chistmas season and the demand for meat is very high. This picked on well and the butchery has become a very good source of income for my family. I started with slaughtering a few goats at that time but now my butchery has so many customers that at times I slaughter several goats per day. I am doing on well with my repayments and I dont have any difficulty. Many people here in Kiptangwanyi are very happy because of the loans they are getting from Zidisah at a very low interest. May God bless Zidisha always.

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