Loan to build my grocery shop inventory

Margaret Wangari

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Margaret Wangari

Member since

October 2014

On-time repayments

235 installments  •  53%

About Me

My name is Margaret Wangari, born in Kirinyaga county which is on the slopes of Mount Kenya. I was born into a farming family where my parents were and still are peasant farmers. I endured deprived upbringing but somehow managed to get education up to secondary level. These struggles early in life would later prove crucial in my life since I can handle many difficult situations.

I had a desire to continue with my education but I got married soon after finishing secondary education and that put to an end to my education journey. I directed my energy to bringing up my family and we were blessed with three children who came in quick succession. They are all grown up now and the first two are looking for jobs while the last born is still in school.

I am a strong woman who values hard work and honesty. Through hard work, I have managed to improve my life in spite of many hurdles that often come along the way.

My Business

I relocated to Mombasa soon after getting married because this is where my husband works. My husband and I decided to start a small grocery shop to supplement his income. Through hard work, the shop has grown into a relatively big ration store where I sell common house hold goods such as soaps, flour, green vegetables etc.

I run the shop in my backyard and this helps me a lot since I do not have to pay rent for this space. I have one assistant who helps me in day to day running of the shop. My children also spend some of their free time in the business.

I make an average net income of about $350 and this helps in paying my bills and other household expenses. In fact my family's life would be very difficult without this business.

Loan Proposal

My business requires a lot of capital to run. The demands and expectations of customers demands that I stock all sort of household items in my shop since they prefer to do all their shopping under one roof. For this reason, I am always looking for ways to raise capital so as to satisfy my customers.

I normally depend on my husbands and friends when the demand for increase stock exceeds my savings from my normal business income. This is an unreliable way of raising the capital since these people are also burdened by their own obligations. Failure to get credit on time means loss of business which is a very painful thing for any business person.

For this reason, I am requesting for this loan which I will spend as follows:

1. Buy a box of assorted balloons - @ 30 USD
2. Buy a dozen flashlights at a total cost of $40
3. Buy assorted goods with the remaining amout.

I hope you will get time to read my story and loan proposal and lend to me. Thank you.

Show original English  

About Me

My name is Margaret Wangari, born in Kirinyaga county. I endured deprived upbringing but somehow managed to get education up to secondary level. This struggles early in life would later prove crucial in my life since I can handle many difficult situations.

I
I am a strong woman who values hard work and honesty. Through hard work, I have managed to improve my life in spite of many hurdles that ofter come along the way.

My Business

I relocated to Mombasa soon after getting married because this is where my husband works. My husband and I decided to start a small grocery shop to supplement his income. Through hard work, the shop has grown into a relatively big ration store where I sell common house hold goods such as soaps, flour, green vegetables etc.

I run the shop at my backyard and this helps me a lot since I do not have to pay rent for this space. I have one assistant who helps me in day to day running of the shop. My children also spend some of their free time in the business.

I make an average net income of about $350 and this helps in paying my bills and other household expenses. In fact my family's life would be very difficult without this business.

Loan Proposal

My business requires a lot of capital to run. The demands and expectations of customers demands that I stock all sort of household items in my shop since they prefer to do all their shopping under one roof. For this reason, I am always looking for ways to raise capital so as to satisfy my customers.

I normally depend on my husbands and friends when the demand for increase stock exceeds my savings from my normal business income. This is an unreliable way of raising the capital since these people are also burdened by their own obligations. Failure to get credit on time means loss of business which is a very painful thing for any business person.

For this reason, I am requesting for this loan which I will spend as follows:

1. Buy a box of assorted balloons - @ 30 USD
2. Buy a dozen flashlights at a total cost of $40
3. Buy assorted goods with the remaining amout.

I hope you will get time to read my story and my loan proposal and lend me. Thank you.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.69

Date disbursed

Oct 31, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $99.69 at 6.06% annual rate over 2 months = $1.20

Service fee: $0.72

Lenders

I

icetwice

Melbourne, Australia

rfcno

New Orleans, United States

W

wally

Torino, Italy

Kamil

Lidzbark Warminski, Poland

Mikers

Netherlands

K

kennychit

United States

S

Stephan

Netherlands

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