Entrepreneur
Name
Charles
Member since
January 2015
On-time repayments
189 installments • 18%
About Me
Am Charles Kiio and my age is 25 years. My parents are Mr. and Mrs. Patrick Nduva. I come from Mukaa region in Makueni county. am a single and currently in college pursuing a degree in civil engineering.
I have eight siblings and am the only one who is learned. My parents are unprofessional and this made our childhood life very challenging. This is due to the large family and no good job for my parents. My siblings went up to class eight. I managed to go to high school because of good marks and due to the fact that my father volunteered to work as a casual to pay for my fees.The salary was megre though. after hard work and commitment i managed to secure a place in a public university where the fees is catered for by the government ,thanks to the HELB loan.
I came to think of business in my second year as i had too little money for my upkeep in school. I started a small business in Athi-river town of selling house hold commodities. The profit i get i use part of it for my need s and the rest goes back to the business. This has kept me going up to now.
Am single and have no children to depend on me.
during free time i like reading novels, doing photography and listening to gospel music.
My Business
I sell household commodities in an open air market. This is because the goods are of high demand due to the fact that every home requires them in day to day basis. I chose this kind of business because:
1. The commodities are durable.
2. It does not require big capital to start or buy the goods.
3. It is easy to manage.
4. It also does not necessarily require a shop at the start and cuts on expenses of having to pay for rent, but due to dust, i have now rented a shop, and also due to the fact that the business has grown.
5. Again they are not seasonal, i.e. demand is always assured.
The cost of the commodities range from 1$ to 3 $ and can fetch a profit of up to 50% their price each. All in all i now collect a profit of about 60$ a week. I use part of the profit for my upkeep in school and the rest i boost the business by reinvesting again.
after getting my first loan i was able to rent a shop and employ an attendant. this made the profits to increase by almost double i.e 100$ a week. i have used this profit to pay for the rent, salary for my employer, and reinvesting back to the business. my school life is no longer challenging as before,and am also able to support my parents back at home.
Loan Proposal
once i get the loan i intent to use 100$ to bring in more inventory of existing stock, and 70$ for inventory not already in the business. this is because my business has not yet been able to supply all the varieties of home supplies stuff, thus not yet met the high demand for these commodities. the place has many industries calling for employment so the market for my commondities is already there. i plan to use the 30$ for salary of another attendant to assist the first one.i will also use 50$ from my savings to rent another store. i plan to use three quarters of the loan to enlarge the business so as to employ more people especially the youth who are idle. my ambition is to help solve the issue of unemployment by creating one. by doing so hop i will be able to get more profit (120$ weekly) and help others through employment. i have a plan to supply the commodities in wholesale and retail in the area. i believe zidisha community can help me achieve this. this will make my community members very happy generally.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$207.00
Date disbursed
Mar 23, 2015
Repayment status
Late
Projected term
43 months
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
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