To buy an electronic cash register for grocery business

David Banda

Lusaka, Zambia

100% repaid

Entrepreneur

Name

David Banda

Location

Lusaka, Zambia

On-time repayments

7 weekly installments  •  86%

About Me

My Name is David Banda I am a 21 year old Male of Lusaka. In the year 2016 my family got a very big tragedy as both of my parents perished in a fatal road traffic accident in Kapiri Mposhi. During that time I was doing my grade 10 at Kafue Boys secondary school. With no financial aid or insurance I was forced to drop out of school to vent for my younger siblings aged 12 and 8 respectively. Luckily my parents had a grocery store in Kapiri Mposhi where they resided and so my siblings and I had to relocate to Lusaka permanently with the aid of the saved income I was able to open a grocery store which has supported my siblings through primary school and secondary school. I am also attending night school as my dream is to finish my secondary school education

My Business

My business is a simple grocery store which stocks different kinds of groceries ranging from house hold food stuffs to house hold tools like brooms and mops. In my part time I also work as an electrician, I am able to fix broken appliances such as fridges and stoves. I plan on studying electrical engineering when God gives me the chance

Loan Proposal

With this Loan I am applying for I will be able to buy a second hand electronic cash register. I have been unable to always be able to keep records of all inventory that is sold especially when it is busy so I think this machine will make it easy for me to track all my profits in a short period of time.

Income Source

Yes business does face risks but because of my ability to also fix house hold appliances and gadgets I am able to raise more money than the grocery shop can give me. I will be able to pay back this loan with no problems.

My Videos

Apr 21, 2021: My introduction to my grocery shop

Feedback

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Lenders

Loan Info

Disbursed amount

$112.11

Date disbursed

Apr 22, 2021

Repayment status

On Time

Projected term

2 weeks

Cost of loan

Service fee: 5% of $112.11 = $5.57

Credit risk payment: $15.66

Optional expediting fee: $22.40

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