Loan to expand my plates, bowls, cups, pans business

Daniel Mageta

Mbita Township, Kenya

100% repaid

Entrepreneur

Name

Daniel Mageta

Member since

April 2015

On-time repayments

123 installments  •  54%

About Me

My name is Daniel Onyango. l am 70 years of old with 12 children and 28 grandchildren. l am the first born in a family of 12 . l am from Kasgunga ward, Mbita Sub County, Kenya .

I grew up with six siblings (since 6 had died due to childhood diseases) and had to leave junior high school because both of my parents were poor and did not have any income to support my higher education. Life became difficult for me and my other siblings . l tried to find job so that l could take care of my self and siblings but l was unable to find a job . l remained unemployed, later, l decided to set up my own shop and my dream came to pass . l set this shop with the help from my friends. l established my own shop selling plate, plastic bowls , pan and so on . Owning my business has enabled me to earn a stable income of around KES 780 (U$10) a day, which has changed my life and help me to send my siblings and children to school. My dream was that because l did not complete high school and college ,l will help them to finish both high school and college.

My hobbies are reading books, swimming , dancing, and traveling.

My Business

I have set up my own small business shop.and l have been in a business for six years.
l sell plates, plastic bowls , pan and so on. I started this business 36 years ago, when both my parents died and I was left with my siblings and my children to take care of, life became difficult for me. No job and no money to support education of my siblings and own children. I have worked on this business and it has taken me through the crisis of life. I have a very good customers who always buy from me.

My business is profitable because I have so many customers so I sell more.I also have so many customers because my prices are normal. The risk of my business have been facing is lack of capital to expand my business and and take good care of my family and reinvest some of the profit into the business

I am going to invest all the loan in the business so that my profit and income will increase in order for me to continue to support my grandchildren (the ones who parents have died) to go to school . I make at least KES 780 (US$10) a day.
I will be paying the loan from the Profit I make .

Loan Proposal

I am seeking my 2nd loan of KES 19,012 to enable me buy more stock of household cooking and serving equipment which are in great demand in Mbita town at the moment due to good catch of fish. l am selling cooking pans, cooking pots, plastic bowls, plates, spoons and several household items. These are essential household items and the demand is quite high than what I have in stock which is denying me customers.

The profits from the business will be used to take good care of my family and 8 orphaned grandchildren. I will also take 20% of the profit to reinvest into the business. l want the lenders to give me a 2nd loan so that l will be able to keep up in business. l want to expand my business and add more plates, pan, spoons, bowls to my shop. l urge the lenders to fund me so that l expand the business to cater for my myself and family. Thank you Zidisha and all the lenders.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$200.00

Date disbursed

Jul 1, 2015

Repayment status

On Time

Projected term

12 months

Lenders

ads68

Melbourne, Australia

fairspirit

Utrecht, Netherlands

B

BMcDermott

Washington, DC, United States

mepster

San Francisco, Ca, United States

ThomasJosef

Berlin, Germany

N

Nicolaas

Doha, Qatar

Haim Si

Mexico, Mexico

F

Falk

Germany

Johannes Duerk

Bochum, Germany

Paul

Auckland, New Zealand

V

Vivek

Arlington, VA, United States

RM

Robert Mulley

United States

M

Mike

United States

PG

Paul Graham

United States

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