Funds for my retail, online, and farming businesses

Kipngetich Cheruiyot

Kericho, Kenya

5% repaid

Entrepreneur

Name

Kipngetich Cheruiyot

Member since

October 2015

On-time repayments

239 installments  •  84%

About Me

I am a middle aged Kenyan born and bred in Kericho County, Kenya. I grew up in a humble family of 7 siblings where I am the third born. Since my early days in elementary school, I did work hard as my parents struggled to educate me through high school. Luckily, I got the opportunity of joining university and undertook a course in Computer Science. However, since graduating I struggled in getting employment due to high unemployment levels in the country. Nevertheless, I didn't give and decided to venture into freelance writing, research and technical consulting. This has enabled me to earn some income over the years and with better planning, I believe I can tap more online opportunities and grow it into a venture that can employ more young people. I have tried several ventures and some are successful and progressing on well.

My Business

My business basically entails working online on various projects such as freelance academic writing, website creation, online research and recently I have ventured into Forex trading. I would like to expand my involvement in Forex trading by learning more from experienced traders and other expert traders in the Forex market. Unlike academic writing, the Forex market operates 24/7 from Monday through Friday all year round. Therefore, I would like to become a day trader and earn on a daily basis. Recently, I have had an opportunity to open a small retail shop in partnership with someone else, as a result, I am able to supplement my income when online jobs become scarce or the times are tough. In addition to the these ventures, I would also like to invest in seasonal crop farming since its returns are good whilst it requires minimal investment. I would like to borrow a loan to ensure I can be able to increase revenues in these ventures.
I plan to the invest the $ 3, 200 loan as follows:
a) $ 1000 will go into my retail business.
b) Another $1000 shall be invested in my online venntures (Forex trading, Academic writing and congigencies i.e. Internet costs)
c) I plan to invest around $400 in crop farming and agriculture ventures
d) The remaining $ 800 will be used as savings and emergency funds for loan repayment.

Loan Proposal

I intend to utilize the $ 3,200 loan from Zidisha as follows:

a) I shall invest $ 1,000 into my retail business for the purposes of increasing stock and managing expenses.
b) Another $ 1,000 shall be invested into my online ventures (Forex trading, Academic writing and contingencies i.e. Internet costs)
c) I also plan to invest around $ 400 in crop farming (cabbage and potato farming) with intention of growing my revenues.
d) The remaining $ 800 will be used as savings and emergency funds for loan repayment.

I anticipate that this funds injection will contribute to increase in revenues by around 30% and ensure I have higher profits that shall be used in repaying the loan and building my saving capacity.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$3,214.70

Date disbursed

Sep 28, 2018

Repayment status

Late

Projected term

40 months

Cost to entrepreneur

Service fee: $135.45

Credit risk payment: $677.28

Lenders

marcantonio152

Pensacola, FL, United States

A

Alex1987

Ludwigsburg, Germany

BenRump

Washington DC, United States

Cloudways

Malta, Malta

G

Goodwill

Oakland, United States

A

Andy

Berlin, United States

G

glh25

Winooski, United States

JOKer

Weisendorf, Germany

xtrahardware

Cazenovia, United States

Paul Buchheit

Mountain View, United States

B

bugdaniel

Switzerland

Jamal Hamou

Cascadia, Canada

Mike and Jacqui

United Kingdom

Ahadi

France

Janet Merrill Miller

The Mossy Pacific Northwest, United States

MD

Miles Dodge

CORVALLIS, United States

W

Wade

United States

Matt B

Stratford Upon Avon, United Kingdom

LJ

United States

Pedro Lopez

United States

TH

tom hd

United Kingdom

AH

ajay hampapur

United States

Akirahugo

Dortmund, Germany

A

Andrei

United States

MK

Mic Ko

United Kingdom

V

Vidar

Oslo, Norway

I

isaac

United Kingdom

RC

Rudi Chen

United States

roark22

Geneva, Switzerland

G

Gil

Portugal

Sky Strouth

Los Angeles, United States

JA

Jan Andresen

Hamburg, Germany

E

Elle

New York, United States

Benjamin Kniaz

Boston, United States

SH

Stephanie He

United States

WS

Warren Shen

United States

JA

Joshua Axtell

United States

MP

Max Power

United States

BE

Bob Ewing

United States

R

Ralf

Germany

M

Mark

Toulouse, France, France

D

Dalton

San Francisco, United States

HCPSPIRIT

Helsinki, Finland

GS

Gary Sinard

Franklin, TN, United States

JF

J Fister

United States

R

RMIM

United States

M

Mary

United States

MK

Michael Kauer

United States

Nethanel Kohen

NYC, United States

D

Dario

Switzerland

petter

Finland

DR

Denise Ramser

United States

DY

David Yang

Vancouver, Canada

Jim Murray

United States

MM

Mac McKiva

United States

DO

Denis Ontiveros

Guildford, United Kingdom

Cambium Foundation

Kirkland, United States

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