Importing of eggs

Bernard    Feb 14, 2019

My last loan I used to purchase eggs for resale. I made a bit of a profit but local government regulation such as licensing made it a bit difficult for the business to make good gains since it was a small business. As far as family achievements goes, my six-year old daughter graduated from pre-school and now she is in grade 1. She is too excited. We also went for a small holiday to the coast.

Bernard    Dec 23, 2016

Business is not doing great as expected. I've had to get alternative funds to pay the loan.

Franmiguel    Dec 5, 2016

Hi Bernard,
Happy Holiday Season to you.
I hope you and your business have a great 2017.
Regards
Michael

Bernard    Sep 15, 2016

I am having problems maintaining the KES 800 installment as my income has since reduced drastically. I now feel the proposed KES 500 will be manageable. Thank you.

Bernard    Jul 4, 2016

The business venture is not going as planned but with this reduction in installment I hope to clear the loan. Thanks.

Ndungu    Feb 27, 2016

Dear lenders, I spoke to Bernard today and he informed that he had traveled but now he is back to his workstation and he will pay the overdue amount today.

VM

Kitty    Jan 21, 2016

Good luck with this loan Bernard

Franmiguel    Jan 17, 2016

Hi Bernard,
Good to see you back on Zidisha.
I have put in all that I have in my loan account, hopefully it will kick start your loan.
If it does not fund, try again in a week, I will have more money by then.
All the best
Michael

• Bernard    Jan 18, 2016

  Hi Michael,
  
  Thanks a lot sir, I realized that the amount they deduct is still mine and I can withdraw when I have cleared any outstanding loans. I will try in a week if I don't get it this week. Thanks
  
  Bernard

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  • Bernard    Jan 20, 2016

    Great News, I got 100% funding. Thanks!

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Ndungu    Jan 13, 2016

Hi Ben, Welcome back! Unfortunately that is how the loan fund is designed to work. In fact you are lucky because it was KES 13,500 a while back and then it was reduced to the current KES 10,000. The good thing is that it is refundable upon completion of your loan in case you do not intend to take another one.

Good luck in your fund-raising.

• Bernard    Jan 18, 2016

  Thanks David..

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Franmiguel    Aug 29, 2015

Hi Bernard,
I have had a response to your questions.

"Each borrower has to pay into the Zidisha Members Fund, which is exclusively set aside to compensate lenders for losses.
It looks like Bernard has never paid into this fund because he was an older member, so he will be asked to pay the 7,000 KES fee.
The fee he is speaking of in his post was the one-time registration fee that all borrowers pay into Zidisha (its always at 1000 KES) which covers the cost of money transfers.
However, if the Zidisha Members Fund fee increases in the future, Bernard will not be asked to pay the difference.
Like the registration fee, he will only need to pay into this fund one time. "

In response to your questions...
I did not know of the actual ins and outs of the borrowing side, or of the actual fees incurred.
I certainly understand the purpose of the lenders fund. Please understand that it is not a commercial decision, as in it is not about making profits for Zidisha, it is about ensuring that the Lenders are able to have some funds to keep lending!
I am sure that Zidisha has though long and hard about the optimum amount to charge - but yes I agree with you, it does seem like a lot of money.

I suppose that the only advice I can give is that you weight up the pros and cons of using Zidisha - with the onetime registration and onetime Zidisha Membership Fee - compared to using a bank.
If you get many years of interest free loans from Zidisha for these one time costs, it may just be worth it...

I hope that Zidisha can be of more benefit to you Bernard.
Regards
Michael

• Bernard    Sep 1, 2015

  Hi, thanks for this reply. I am at peace now but all the same, I wish they could spread this KES 7,000 over current and future loans so as to fully maximise on the loan applied. Anyway I will take a 'sabbatical' from zidisha and will come back when 'my back is against the wall' financially speaking.
  
  Thanks once again for your efforts.
  
  Regards,
  Bernard

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  • Franmiguel    Sep 1, 2015

    Hi Bernard,
    I am really sorry to hear that.
    I have passed on your feedback to Zidisha, so they are aware of your concerns.
    All the best going forward.
    Please check in regularly, as things (and fees?!?) could change again in the future.
    If you do apply for another loan, I will help fund it.
    Regards
    Michael

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    • Bernard    Sep 2, 2015

      Thank you sir! I will be on the look out.
      
      Regards,
      Bernard

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    • Bernard    Sep 4, 2015

      Great News, the zidisha crew reviewed the fees charged and reduced it to Kshs 50. I will apply for a loan once I sort some other issues. Thanks.
      
      Regards,
      Bernard

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    • Bernard    Dec 30, 2015

      Wishing you a Happy New Year!!

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Franmiguel    Aug 27, 2015

Hi Bernard,
I have received a reply from Zidisha, but it didn't really answer your question.
I will respond when I hear more.
Hang in there.
Regards
Michael

Bernard    Jul 6, 2015

Massive thank you to all who believed in me.. I finally paid my last installment..I will share pictures of my business venture in due course.

• Franmiguel    Jul 28, 2015

  Hi Bernard,
  Thanks for being such a great borrower.
  I hope that the loan has benefited both you and your business.
  All the best in the future
  Michael

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  • Bernard    Aug 26, 2015

    Hi Franmiguel, are you aware of the extra charges those needing funds are supposed to pay? Do you as lenders approve of this? Also keep in mind in my initial loan I was asked to pay a one-off 'fee' which I did. Last time I checked I was to pay Kshs 3,000 now it has risen Kshs 7,000. Give me your thoughts on this. Thanks

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    • Franmiguel    Aug 26, 2015

      Hi Bernard,
      I do not know much about fees required to be paid from borrowers.
      You homepage states:
      "Upon joining Zidisha, Bernard paid a lifetime membership fee of $11.78. This was a one-time cost and entitled Bernard to lifetime Zidisha membership. "
      That US$11.78 would be about 1250KES, so I am not even sure about the 3000KES you refer to.
      I have asked Zidisha, on your behalf, as to what the fees are that you are being asked to pay.
      I will let you know when I receive a response
      All the best
      Michael.

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      • Bernard    Aug 26, 2015

        I am confused as well. Looking forward to your response. Thanks.

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        • Roy    Aug 26, 2015

          Hello Bernard and Franmiguel,
          I also am interested in the difference between 1250KES and 3000KES...
          Best Regards,
          Roy

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          • Bernard    Aug 27, 2015

            Hello Roy, the unwarranted charges which I am not sure if lenders are aware of is just too much for those who would want to use this platform to get loans. In my case, I am going to be charged almost a third of my loan application. Quite expensive if you ask me.

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            • Roy    Aug 27, 2015

              Bernard, The problem I have in discussing this matter with you is I can not see where you get 3000KES from.
              If you forward the email or screen shot to me at [email protected], I will see if I can give you an appropriate response.

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Bernard    Jun 15, 2015

Greetings! My car wash business has been doing well in the past few weeks. We have been experiencing heavy rains here in Nairobi and with the rains, the environment can be muddy as well. So for that reason I feel I can afford to pay at least Kshs 2500 effective June 21st 2015. I do hope to expand this business later on in the year. Thanks very much to all my sponsors and God Bless you.

Bernard    Mar 20, 2015

The business did not pick as I had anticipated and the road leading to car wash had been closed to undergo rehabilitation. So at times we have low business. But when the road is opened, normalcy will resume businesswise. Thanks

Franmiguel    Feb 26, 2015

Hi Bernard,
Great to see that you are doing well and always repaying on time.
In fact, if I could make a recommendation...
If you are finding it easy to make the current repayments, you might want to consider rescheduling to pay the loan off early.
That way you could save interest!!!
As I am sure you know, that is always a good business outcome.
All the best
Michael.

• Bernard    Mar 17, 2015

  Thanks Franmiguel,
  
  I will consider that...

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Franmiguel    Dec 26, 2014

Hi Bernard,
Happy Holiday Season to you.
I hope you and your business have a great 2015.
Regards
Michael

• Bernard    Jan 8, 2015

  Hi Franmiguel,
  
  I had a good holiday season now its back to work. Looking forward to a great 2015. Thanks

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Kitty    Dec 2, 2014

Congratulations on being funded, I hope the machine works well

• Bernard    Dec 3, 2014

  Thanks Kitty, I am sure it will.

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Bernard    Nov 28, 2014

Thanks David...

Ndungu    Nov 28, 2014

Welcome back Ben, after a long absence. I wish you well in your fund raising effort.

VM

Bernard    Nov 28, 2014

My last loan went into the purchase of hand carts for transporting basically anything. It made a difference as I got to bring on board other school leavers to work with and ultimately created employment for them.