363 weekly installments • 80%
My name is Esther Wanjiru and Kenyan citizen. I am a teacher of English and English literature. I am a second born in a family of five. I was born in Kiambu county Kenya where I went through my primary school education then secondary school. I later joined Kenyatta University where I took a course in Bachelor of Arts and later a post graduate diploma in Education. I later got employed as a teacher and posted to Mombasa County where I am still teaching.
I am a mother of two young children.
I started a business in 2010 to supplement my salary since I had difficulties in meeting my many expenses such as rent, school fees for my children, transport e and also helping out my ageing parents back home. I run a general shop where I sell common household items like flour, soap, sugar etc. I also sell cooking gas in cylinders. I also started a money transfer business (M-pesa) within the same establishment. I rely on two workers to run the business since I spend most of time in school where I work.
I am a go-getter, focused and very ambitious woman. I believe in integrity and hard work.
As stated above, I run a three in one business – the main one being the shop where there is a steady flow of shoppers who buy goods worth anything from $0.5 to $20 per shopper. I also sell gas cylinders in quantities of 3kg and 13kg at a retail price of $7 and $26 respectively. I also do a money transfer business (called M-Pesa locally) where I serve about 60 clients daily.
The three departments give me a net profit of about $650 per month – after paying the rent, other bills and salaries.
My business requires heavy investment for buying stock especially the gas section. I sometimes fail to cope with the demand of the gas cylinders since my stock gets depleted very fast especially during the end-month when most workers get paid. I have decided to join Zidisha to access credit which will enable me to build up my stock as this will bring satisfaction to my customers.
I run 3 businesses in one namely, general shop, sale of LPG cooking gas and money transfer popularly known as M-pesa – all housed under one roof. I am a teacher by profession but I started this business to supplement my income. The three business combined give me a total net income of about $120 per week.
I have asked for this loan because I want to strengthen the LPG gas section by buying more empty gas cylinders. This loan of $150 will enable me buy 5 such cylinders @ $30. The extra cylinders will ensure that I will have a continuous supply of the product since as things are right now, I sometimes run of stock due to the small quantity I have. The demand for the cylinders peaks at the end of month when most salaried workers get paid and my failure to cope with the demand inconveniences me a lot not to mention losing business to competition. This loan therefore, if granted will help me greatly in expanding my business.
Jun 13, 2014
Cost to entrepreneur
Lender interest: $150.44 at 6.23% annual rate over 2 months = $1.80
Service fee: $150.44 at 5% annual rate over 2 months = $1.45
Upon joining Zidisha, Esther paid a lifetime membership fee of $8.86.