Samuel

Bahati Nakuru, Kenya

64% repaid

Entrepreneur

Name

Samuel

Member since

February 2013

On-time repayments

70 installments  •  47%

About Me

My name is Samuel Njoroge Ihugo, I was born in year 1978 in the area called Kamiruri in Bahati area near Muthaiti Primary School. I went to our lady of mercy of primary school. Then after primary school i started a small business of charging batteries and barber shop.After charging the batteries for sometimes the place became unsave for keeping the batteries so i stop charging but i continued with the work of a barber, up to now. I am married with children.

I come from a place called Kamiruri in Bahati. As you travel from Nakuru along Nakuru/Nyahururu road you reach a centre called Maili Kumi you do not branch , you continue with road that goes to Solai before you reach the police station after passing Muthaiti Primary School you branch to your right then walk for about 600m from the main road you ask for walimuru’s home plot no. 988. The area is a very good place and very productive when it comes to farming.so those who do farming business do very well because of the favourable climate.

My Business

I do mixed farming where I grow different types of crops like maize beans, peas, tomatoes, potatoes, vegetables e.t.c. I sell the produce to the business men around the area and to others who come from afar. I also keep layers chicken for eggs which I sell to neighbouring town Nakuru. Apart from farming business I operate a barber shop at Maili Kumi Centre that is where I work all day and my family takes care of the farming business. I get about 200000 per year from crop farming and from chickens I get 20000 per month and so it is about 240000 per year from the work of barber I get about 150000 per month which is about 180000 per year so the total annual income is about 620000. I use the amount to continue the business, for my family up keep and also paying for my month bills.

Loan Proposal

I would like to thank you Zidisha team for the good work you are doing . Let me say that I was very much helped by your past loans it has truly uplifted my business and also they have helped me to raise the standard of my family . For now I have expand my business of barbar.Thanks for the good work you are doing i hope the lenders will continue doing the good work.

Feedback

1

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$529.00

Date disbursed

Jan 20, 2014

Repayment status

Late

Projected term

14 months

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  • Samuel    Jan 31, 2014

    Thank for the loan i have received the money and i was very much discourage to realize that the interest that i had asked the the cyber assistance to put it for me was not the the interest that is appearing in my A/C i had requested for 12% but now i have found out that it is 21% please give me the way forward because the interest is very high compared to my income of my business.

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    • bconrad    Feb 5, 2014

      Dear Mr. Ihugo,

      Thank you for the message and I am so sorry for the trouble. Unfortunately, I do not think there is any action we can take at this time to adjust the interest rate of the loan. In the future, I would suggest double-checking the interest amount before you accept the bids, in order to make sure it is the correct amount. I understand this may be frustrating and once again apologize for the inconvenience.

      Best,
      Bayle, Zidisha Team

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      • CZC    Feb 5, 2014

        Bayle,

        I'd be willing to lower my interest rate to 10%. Maybe other lenders would also be willing to do the same. Is there any way to contact them and request it in this one case? It would be better than having Mr. Ihugo default.

        He should also increase the period over which he will pay the loan to make it more manageable. Maybe increase it to 104 weeks? Isn't there a way he can also switch from weekly to monthly repayments?

        Thanks,
        Cris

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    • Sverre    Feb 5, 2014

      If the interest is to high, I think your only option is to repay the whole loan now, and ask for a new loan, either that or to prolong the repayment period.

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  • Samuel    Jan 21, 2014

    Thanks you zidisha team for the second loan i have received the amount and i will use it to uplift my business. i would like to be making my payment monthly i would be paying 3,700 every 25th of each month because I get money monthly. thank you very much.

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