Loan to expand my grocery store
Esther Wanjiru
Mombasa, Kenya
100% repaid
Entrepreneur
Name
Esther Wanjiru
Member since
June 2014
On-time repayments
404 installments • 71%
About Me
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.
My Business
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.
Loan Proposal
Ever since I borrowed my first loan with Zidisha, my business has grown by leaps and bounds. This unprecedented growth has come with some challenges. The space where I run my grocery business is now too small due to increased volumes of sale items. Fortunately, my neighbour who runs a similar business has opted to retire and he has offered to let his premises to me.
The budget for occupying this bigger space is as shown
1. Goodwill $300( it is a common practice in Kenya to compensate the previous occupier for building a client base who presumably will continue patronizing the business)
2. Fittings and branding $350
3. Enhanced security – grill doors and quality locks $300
4. Purchase of an extra refrigerator $300
All these items are crucial for the success of my ambitious venture. I also intend to hire an extra worker to cope with the anticipated increased sales volumes. I humbly request you lenders to support me in this continuing success story. Thank you.
Feedback
Positive
4
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$1,335.01
Date disbursed
Jan 13, 2015
Repayment status
On Time
Projected term
14 months
Cost to entrepreneur
Lender interest: $1,335.01 at 5.47% annual rate over 14 months = $89.48
Service fee: $56.96
Lenders
New York, United States
Reston, United States
[email protected], Belgium
Atlanta, United States
Toronto, Canada
Tempe, United States
Chicago, United States
Geneva, Switzerland
Gent, Belgium
Vienna, Austria
United States
Fontvielle, Monaco, Yemen
Gold River, Canada
Mohnton, Pa, United States
United States
United States
United States
United Kingdom
Vietnam
Netherlands
United States
United States
United States
Germany
Australia
United States
Fairmont, United States
New York, United States
Netherlands
Maputo, United States
Australia
Germany
Denmark
United Kingdom
Canada
United States
United States
Austria
Germany
Germany
United Kingdom
United States
United States
Ask Esther a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.
Loading...